OpenAI CEO's World Network eyes partnership with Visa to integrate card features into self-custody crypto wallet
The goal is to create robust self-custody wallet systems with integrated Visa card features and stablecoin payments.
Key Takeaways
- World Network is engaging with Visa to integrate card features into its crypto wallet.
- The integration will enable stablecoin payments across Visa's global merchant network via World Network.
Share this article
World Network, formerly known as Worldcoin, the crypto and digital identity project tied to Tools for Humanity and OpenAI CEO Sam Altman, is in discussions with Visa to integrate card features into its self-custody crypto wallet, CoinDesk reported Monday, citing a source with knowledge of the talks.
This came after Bloomberg reported last April that the project was negotiating potential partnerships with PayPal and OpenAI to broaden its technological and operational impacts.
If successful, World Wallet would be able to tap into Visa’s massive network of merchants worldwide. The collaboration would enable fintech and FX applications, fiat on-and-off ramps, and stablecoin-based payments across Visa’s global merchant network.
Tools for Humanity, led by Altman, has reportedly sent out requests to card issuers, indicating active steps toward implementation. The company is engaging with crypto card facilitators like Rain, which is backed by Coinbase and Circle and provides on-chain Visa cards for projects including Optimism and Avalanche.
On Monday, Rain announced that it secured $24.5 million in a funding round led by Norwest Venture Partners, with participation from Galaxy Digital, Coinbase Ventures, and Lightspeed.
World Network builds on Worldcoin’s controversial iris-scanning tech, which creates a unique biometric ID for users. Pairing this with a wallet could enable secure, identity-linked financial services without traditional intermediaries, a feature few competitors offer.
The development follows World Network’s launch of the World Chat application on March 7. The mini-app is designed for secure communication among verified users on the World Network platform.
Released in Beta, World Chat integrates the Contacts tab, World ID protocol, and World App wallet to create an end-to-end encrypted messaging environment.
With World Chat and peer-to-peer crypto transfers already launched, plus ambitions for FX trading and stablecoin payments, World Network is aiming to be a one-stop shop for finance, communication, and digital identity.
“Basically to turn World Wallet into a mini bank account for anyone who wants it,” the source told CoinDesk.
Share this article
