Hong Kong –News Direct– Chainwire
Collect, the Global FinTech Company Powering Expense Management through the First Reap Visa Corporate Card (“Reap Card”) Platform, Launches Cutting-Edge Innovation by Including Cryptocurrency Reimbursement Functionality for Industry Web3 . With the Reap card, Reap offers expense management software that will allow web3 businesses to settle their fiat payments with cryptocurrencies.
Daren Guo, co-founder of Reap, said: “We have noticed a gap in the payments market involving Web3 projects that are having difficulty settling business expenses with non-fiat currencies like cryptocurrency. A seamless and scalable solution to converting crypto to fiat does not exist. not currently 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 fiat economy of the web2.
Security and stability are top of mind for customers using Web3 technologies. To create a trusted ecosystem, Reap has integrated with Fireblocks, an easy-to-use platform for building new blockchain-based products and managing day-to-day operations of digital assets.
Stephen Richardson, Senior Vice President of Financial Markets at Fireblocks, added: “Security of digital assets is of paramount importance when it comes to building customer trust, which is why we are delighted to work with Reap to ensure secure and frictionless payments for web3 creators. Reap’s solution aims to improve the operational efficiency of Web3 projects, allowing founders and project owners to focus on building innovative products with greater peace of mind.We are proud to work with innovative companies like Reap that will enable the next generation of digital assets.
The Reap Card simplifies the process of settling global fiat payments by using USDC, USDT, BTC, and ETH seamlessly to solve the problem of costly processing fees that include multiple off-track parties. Digital provider Gnosis has already used the service to see firsthand how the Reap Card streamlines complex currency conversion processes and billing issues, freeing up time for executives to focus on core business operations.
“As early adopters of Reap Card, we were able to leverage their innovative product suite and seamlessly settle fiat currency payments,” said Dosh, communications and marketing team at Gnosis. “Reap’s solution was particularly helpful in circumventing the difficulties and hurdles that often come with using cryptocurrency to navigate the traditional banking system.”
Reap envisions a future where every business, regardless of size and industry, has the opportunity to operate to its full potential by creating and applying innovative financial solutions. Reap is committed to orchestrating success with all types of businesses to seize global opportunities, in an ever-changing competitive global marketplace.
Collect is a financial platform that enables financial access and connectivity through innovation for businesses of all sizes. Reap combines expense management software with a range of innovative payment products, including the Reap Visa corporate credit card. Reap is committed to helping businesses succeed by providing the best financial tools that evolve with their customers and the market.
Reap is backed by industry-leading investors including Acorn Pacific Ventures, Arcadia Funds, HashKey Capital, Hustle Fund, Fresco Capital, Abacus Ventures and Payment Asia. Reap was founded in 2018 and has grown to a team of over 40 people, working from offices in 7 countries.
Learn more here. Media Inquiries – Reap [email protected]
See the source version on newsdirect.com: https://newsdirect.com/news/reap-leverages-fireblocks-to-enable-crypto-repayments-with-the-reap-card-922452832