Bleap secured USD 2.3 million in pre-seed funding, achieving a USD 10 million valuation, led by Ethereal Ventures. They launched a beta non-custodial wallet with features like DeFi yields, multi-currency accounts, zero fees for stablecoin transactions, and a Mastercard-backed debit card offering 2% cashback. Since December 2024, Bleap has onboarded thousands of users, processed over USD 5 million in transactions, and saved users over USD 100,000 in fees.
The company plans to expand by allowing other wallet providers to integrate with Mastercard’s network for easier stablecoin transactions.
Mastercard has joined forces with crypto companies, such as MetaMask, Baanx, and Ledger, to strengthen its Web3 card program. This initiative seeks to connect traditional financial systems with decentralised finance by facilitating the integration of digital currencies, including stablecoins, into everyday transactions.
Bleap is built on the Ethereum Layer 2 network Arbitrum, and it offers fast, gasless transactions and replaces traditional seed phrases with cloud storage and social logins, utilising Portal's Multi-Party Computation (MPC) technology. Users create a smart wallet through account abstraction (ERC-4337) for a secure, user-friendly web3 asset management experience. The wallet supports USDC, USDT, USDA, and EURA stablecoins and allows fee-free crypto transactions.
Bleap connects public blockchains with centralised systems like Mastercard, enabling simplified transactions while maintaining self-custody. For instance, when a customer uses Bleap for a USD 5 payment at Starbucks, the system verifies funds in stablecoins, settles with Mastercard, and avoids conversion fees, unlike other crypto cards. Cashback incentives come from merchant fees and subscription plans, while Bleap covers blockchain transaction fees. The platform plans to launch its token in 2026.
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