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Revolution’s former VP for growth touts zeal to simplify cryptocurrency spending
Former Revolut employees have launched Zeal, a DeFi wallet and crypto debit card that allows users to spend cryptocurrencies directly on everyday purchases. The launch follows a strategic partnership and $2 million investment from Gnosis, which aims to seamlessly integrate Web3 financial binaries into existing payment experiences.
Zeal, now available as both a browser extension and mobile app, allows users to build onchain payments as well as everyday transactions using a crypto Visa debit card provided by Gnosis.
The information was confirmed by Hannes Graah, founder of Zeal and former vice president of growth at Revolut, during the ongoing DappCon in Berlin. The conference is organized by Gnosis, which provided Zeal with the necessary financial support last month.
“Spending cryptocurrencies is difficult – many think of cryptocurrencies as an online casino due to volatile price movements,” commented Graah. “Zeal’s new approach combines a feature-rich EVM wallet with a Visa card that lets people buy a coffee or connect to Uniswap from the same app. Unlike previous crypto cards that require a fiat balance, the Gnosis Card spends directly cryptocurrencies on the chain.”
The Zeal payment process is much simpler. Gnosis Pay checks the customer’s token balance in their smart wallet upon payment request from the merchant. If the funds are adequate, the payment is approved and the merchant can request the tokens. These tokens are later withdrawn and converted into fiat currency.
“The lack of biometrics and seed phrases will make this wallet perfect for anyone starting out with DeFi,” added Friederike Ernst, co-founder of Gnosis. “We are also particularly excited about the launch of the Gnosis card. This is a huge step forward in allowing people to actually purchase everyday items with their cryptocurrencies.”
The launch of Zeal marks a milestone in the DeFi space. It offers a convenient and accessible solution for users who want to spend their cryptocurrencies on everyday purchases. The project was first mentioned in November last year, but now its official launch has been confirmed.
It’s not the first time a former Revolut executive has ventured into starting his own business. Ruslan Fakhrutdinov, previously head of crypto operations at Revolut, created a cryptocurrency exchange after securing a $6.5 million investment. Tioga Capital, Semantic Ventures, Cherry Ventures, Starkware and Cyber Fund are among the investors backing the new exchange called X10.
You can learn more about Zeal from the video below:
Revolut will present the payment terminal for large businesses
In the meantime,
Revolution also announced a significant update; the company is set to introduce a new payment terminal tailored for large businesses, aiming to expand its market share among corporate customers.
The product is expected to launch in the second half of this year and will serve over 15,000 merchants who accept in-person payments using Revolut products. This information was shared by Financial News, who spoke to Alex Codina, general manager of Revolut’s Merchant Acquiring business. Codina said the payment terminal would be ideal for retailers, restaurants and coffee shops.
Additionally, the company announced increase plans its global workforce by approximately 40% in 2024. Having recently passed the 10,000 employee mark, Revolut is aiming to reach 11,500 employees by the end of the year.
Furthermore, Revolut has introduced RevolutA cryptocurrency exchange designed for professional traders in May. This launch marks the company as a pioneer in developing a dedicated platform for cryptocurrency trading in the banking sector.
Former Revolut employees have launched Zeal, a DeFi wallet and crypto debit card that allows users to spend cryptocurrencies directly on everyday purchases. The launch follows a strategic partnership and $2 million investment from Gnosis, which aims to seamlessly integrate Web3 financial binaries into existing payment experiences.
Zeal, now available as both a browser extension and mobile app, allows users to build onchain payments as well as everyday transactions using a crypto Visa debit card provided by Gnosis.
The information was confirmed by Hannes Graah, founder of Zeal and former vice president of growth at Revolut, during the ongoing DappCon in Berlin. The conference is organized by Gnosis, which provided Zeal with the necessary financial support last month.
“Spending cryptocurrencies is difficult – many think of cryptocurrencies as an online casino due to volatile price movements,” commented Graah. “Zeal’s new approach combines a feature-rich EVM wallet with a Visa card that lets people buy a coffee or connect to Uniswap from the same app. Unlike previous crypto cards that require a fiat balance, the Gnosis Card spends directly cryptocurrencies on the chain.”
The Zeal payment process is much simpler. Gnosis Pay checks the customer’s token balance in their smart wallet upon payment request from the merchant. If the funds are adequate, the payment is approved and the merchant can request the tokens. These tokens are later withdrawn and converted into fiat currency.
“The lack of biometrics and seed phrases will make this wallet perfect for anyone starting out with DeFi,” added Friederike Ernst, co-founder of Gnosis. “We are also particularly excited about the launch of the Gnosis card. This is a huge step forward in allowing people to actually purchase everyday items with their cryptocurrencies.”
The launch of Zeal marks a milestone in the DeFi space. It offers a convenient and accessible solution for users who want to spend their cryptocurrencies on everyday purchases. The project was first mentioned in November last year, but now its official launch has been confirmed.
It’s not the first time a former Revolut executive has ventured into starting his own business. Ruslan Fakhrutdinov, previously head of crypto operations at Revolut, created a cryptocurrency exchange after securing a $6.5 million investment. Tioga Capital, Semantic Ventures, Cherry Ventures, Starkware and Cyber Fund are among the investors backing the new exchange called X10.
You can learn more about Zeal from the video below:
Revolut will present the payment terminal for large businesses
In the meantime,
Revolution also announced a significant update; the company is set to introduce a new payment terminal tailored for large businesses, aiming to expand its market share among corporate customers.
The product is expected to launch in the second half of this year and will serve over 15,000 merchants who accept in-person payments using Revolut products. This information was shared by Financial News, who spoke to Alex Codina, general manager of Revolut’s Merchant Acquiring business. Codina said the payment terminal would be ideal for retailers, restaurants and coffee shops.
Additionally, the company announced increase plans its global workforce by approximately 40% in 2024. Having recently passed the 10,000 employee mark, Revolut is aiming to reach 11,500 employees by the end of the year.
Furthermore, Revolut has introduced RevolutA cryptocurrency exchange designed for professional traders in May. This launch marks the company as a pioneer in developing a dedicated platform for cryptocurrency trading in the banking sector.