FTX-Backed Bridge Network Announces Plans for a Multichain Non-Custodial Payment Solution
October 19, 2022 – London, United Kingdom
Bridge Network reveals plans to launch a non-custodial multichain payment product to tackle crypto off-ramps in underserved regions.
The product will allow users to fund their card directly from Web 3.0 wallets across any chain without the risk of centralized wallets infrastructure, enabling seamless and secure crypto payments in the real world.
Bridge Network, a cross-chain bridging DApp for both tokens and NFTs, has announced plans to enter the payments space and unlock global payments rails for millions of underserved crypto users via a multichain payment solution.
The product will allow users to connect any Web 3.0 wallet and directly fund a virtual or physical debit card using crypto from any supported blockchain, enabling faster, easier and decentralized crypto payments.
The announcement was made during a recent community update which revealed initiatives to build out an end-to-end platform for the average user entering DeFi.
Kimberly Adams, co-founder of Bridge Network, said,
“This is an exciting endeavor and problem to tackle because crypto payments have been the most difficult thing for us as a company based out of Barbados. We are well-positioned to understand the challenges associated with it and are working with regulators in the underdeveloped regions to address [and] reduce barriers.”
The product will offer multichain access, meaning users can directly fund their Bridge card with crypto assets from any of the supported networks. For example, a user with USDC on Solana or BUSD on Binance Smart Chain can connect their phantom or MetaMask wallet and top up their card directly without the need for moving away from the network in order to access the funds for payments.
The project recently raised $3.8 million from crypto investors including FTX Ventures, and Bridge Pay is planned to roll out in Q2 of 2023 with priority access for users on the waitlist.
According to the updated documents, the Bridge Pay product will act as the revenue driver to incentivize Bridge validators in order to build a trustless network for its ecosystem of cross-chain applications.
About Bridge Network
Bridge network is a trustless ecosystem of cross-chain applications powering seamless transactions across various blockchains in the world of DeFi. Bridge allows users to transfer native tokens and NFTs cross-chain, manage assets, trade, earn and access opportunities in the multichain-verse from one easy-to-use platform.
Bridge Network introduces a unified experience to the multichain world with a scalable, secure and robust infrastructure to simplify the complexities behind moving cross-chain and transacting in DeFi.
Contact
Favour Uzoaru, Bridge Network
This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.
Follow Us on Twitter Facebook Telegram
The post FTX-Backed Bridge Network Announces Plans for a Multichain Non-Custodial Payment Solution appeared first on The Daily Hodl.
Go to Source
Author: ChainWire
