Reap Launches Industry-Leading Innovation with Crypto Payments for Web3 Businesses
-Reap is offering expense management software that will enable web3 companies to settle their fiat payments with cryptocurrencies
-Reap has integrated with Fireblocks to create an easy-to-use and secure platform for web3 projects
-This innovation is aimed at bridging the gap between web3 businesses and the web2 fiat economy
Reap, a global fintech company, recently announced the launch of their industry-leading innovation that includes cryptocurrency repayments functionality for the Web3 industry. Through their Reap Visa Corporate Card („Reap Card“) platform, Reap is offering expense management software that will allow web3 companies to settle their fiat payments with cryptocurrencies.
This innovative solution has been designed to bridge the gap between web3 businesses and the web2 fiat economy. Currently, the traditional banking system does not yet have an industry standard for web3 businesses to convert crypto into fiat, so this new solution from Reap will be a welcome addition to the market.
Daren Guo, Co-Founder of Reap, said: „We noticed a gap in the payments market involving web3 projects that face challenges for settling corporate expenses with non-fiat currencies like cryptocurrency. A seamless and scalable solution to convert crypto into fiat currently does not exist as traditional banks have not been able to settle on an industry standard for these web3 businesses. Reap is now able to bridge the gap between web3 businesses and the web2 fiat economy.“
The security of digital assets is of paramount importance when it comes to building customer trust, which is why Reap has integrated with Fireblocks, an easy-to-use platform to create new blockchain-based products and manage day-to-day digital asset operations. Stephen Richardson, SVP of Financial Markets at Fireblocks, commented: „We are delighted to be working with Reap to power secure, frictionless payments for web3 creators. Reap’s solution stands to improve operational efficiency for web3 projects, allowing founders and project owners to focus on building innovative products with greater peace of mind.“
Reap’s new solution is set to revolutionize the payments market, allowing web3 businesses to settle their corporate expenses with non-fiat currencies like cryptocurrency, while also providing the security and stability of Fireblocks‘ platform. This will provide web3 projects with a seamless and scalable solution that does not currently exist in the traditional banking system. It is a welcome addition to the payments market, and one that is sure to be a big success.