Startup Zap and Visa will issue a payment card for bitcoin payments
The main task for this year at Zap is to launch the Strike card for app users and Visa Direct integration.
This year's Fast Track member was startup Fold, which announced the launch of a Visa debit card to receive a bitcoin cashback. In addition, there is a debit card issued by Coinbase, which allows you to pay with the cryptocurrency. It is not known what option will be offered to Zap cardholders.
Mullers plans to compete with the Cash App from Square company Jack Dorsey and Coinbase card at a lower cost.
In Strike, users will have a unique domain name that they can use to send bitcoins by simply scanning a QR code. A similar service called Ethereum Name Service has been created in the ecosystem of the second largest cryptocurrency.
Strike is not a cryptowallet and will convert bitcoins to US dollars on the server side for crediting them to the user account. This will allow the bitcoins to be transferred to anyone who holds a card or an account in a U.S. bank, as well as transfer the conversion tax liability to intermediaries.
The public identifier provided by Strike will not be associated with the bitcoin wallet address. It will be the responsibility of the startup to manage it. Thus, it will be possible, for example, to send a translation to the content creator without disclosing personal data to each other.
Visa confirmed the information about working with Zap, but did not provide any explanation.