World Network Negotiates With Visa to Integrate On-Chain Wallet Features
World Network is negotiating with Visa to integrate on-chain card features into its self-custody crypto wallet. This partnership aims to:
- Enable Visa card functionality within World Network wallets
- Provide fintech and foreign exchange applications
- Facilitate fiat on and off-ramps
- Support stablecoin payments at thousands of Visa-affiliated merchants
Tools for Humanity, co-founded by Sam Altman, has sent requests for product forms to card issuers and is in discussions with crypto card providers like Rain, which issues on-chain Visa cards for projects such as Optimism and Avalanche.
A source indicated the goal is to create a comprehensive wallet strategy allowing users to manage various transactions, effectively turning World Wallet into a mini bank account.
Earlier this month, World Network launched a World Chat application enabling crypto-based transactions between users. The iris scanning orb used for biometric data collection by Worldcoin has faced controversy since its introduction in 2021.
Visa and Mastercard are exploring collaborations with crypto projects to enhance their services in the digital asset space.
Tools for Humanity, Rain, and Visa have not provided comments regarding these developments.