FTX-Backed Bridge Network Announces Plans for Noncustodial Multi-Chain Payments Solution
October 19, 2022 – London, UK
Bridge Network reveals plans to launch a non-custodial multi-chain payment product to combat crypto outflows in underserved regions.
The product will allow users to fund their card directly from Web 3.0 wallets on any chain without the risk of a centralized wallet infrastructure, enabling seamless and secure crypto payments in the real world.
bridge networka cross-chain bridge DApp for tokens and NFTs, announced plans to enter the payment space and unlock the global payment rails for millions of underserved crypto users through a payment solution multi-channel.
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 create an end-to-end platform for the average user entering DeFi.
Kimberly Adams, co-founder of Bridge Network, said:
“This is an exciting undertaking and a problem to be solved as crypto payments have been the hardest thing for us as a Barbados-based company. We are well placed to understand the challenges that are associated with it and work with regulators in underdeveloped regions to resolve [and] reduce barriers. »
The product will offer multi-chain access, which means 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 Shadow Wallet or MetaMask and top up their card directly without having to walk away from the network in order to access funds for payments.
The project recently raised $3.8 million from crypto investors including FTX Ventures, and Bridge Pay is set to roll out in the second quarter of 2023 with priority access for users on the waitlist.
According to the updated documents, the Bridge Pay product will serve as a revenue stream to incentivize Bridge validators to build a trustless network for its cross-chain app ecosystem.
About the bridge network
The Bridge Network is a trustless ecosystem of cross-chain applications powering transparent transactions on various blockchains in the world of DeFi. Bridge allows users to transfer native tokens and NFTs between chains, manage assets, trade, earn, and access opportunities in the multi-chain verse from one easy-to-use platform.
Bridge Network introduces a unified experience in the multi-chain world with a scalable, secure and robust infrastructure to simplify the complexities of cross-chain movement and transactions in DeFi.
Prefer Uzoaru, Bridge Network
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