For the Web3 sector, Reap, the global fintech company that drives expense management via its first-of-its-kind Reap Visa Corporate Card (“Reap Card”) platform, launches a first-of-its-kind innovation by enabling cryptocurrency repayments. To help web3 businesses settle their fiat payments with cryptocurrencies, Reap is providing expense management software with the Reap Card.
“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.” – Daren Guo, Reap Co-Founder.
Users of Web3 systems care most about safety and reliability. Reap has combined forces with Fireblocks, a user-friendly platform for developing blockchain-based products and overseeing routine digital asset management to facilitate the development of a reliable ecosystem.
“The security of digital assets is of paramount importance when it comes to building customer trust, which is why 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. We’re proud to work with innovative companies like Reap that will enable the next generation of digital assets.” – Stephen Richardson, SVP of Financial Markets at Fireblocks.
By seamlessly integrating USDC, USDT, BTC, and ETH to address the issue of expensive handling fees that include multiple off-ramp parties, the Reap Card streamlines the process of settling global payments in fiat. Gnosis, a digital service provider, has used this service and can attest to how the Reap Card simplifies currency conversion and billing issues, allowing executives more time to focus on strategic initiatives.
“As an early adopter of Reap Card, we have been able to take advantage of their innovative product suite and seamlessly settle payments in fiat currencies,” said Dosh, Communication and Marketing Team at Gnosis. “Reap’s solution has been particularly useful for bypassing the difficulties and hurdles that often come with trying to use cryptocurrency to navigate the traditional banking system.”
Reap’s long-term goal is to create and implement ground-breaking monetary solutions that enable businesses of all sizes and sectors to realize their full potential in the marketplace. Reap is dedicated to orchestrating the success of all types of businesses to seize global opportunities in an ever-evolving competitive global marketplace.
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- Source: https://zycrypto.com/reap-debuts-industry-leading-crypto-repayments-feature-with-the-reap-card-leveraging-fireblocks/