Reap is a global fintech company, and it has ventured into expense management using the Reap Card. The Reap Card has partnered with the VISA Corporation Card, and the platform has launched this innovative option for crypto payments solution as a repayment function that is available for Web 3.0 companies.
Reap is also offering expense management software that is going to allow Web 3.0 platforms to incorporate fiat receipts using cryptocurrencies. The co-founder of Reap, Daren Guo, has told the media that there was a gap between the Web 3.0 projects on account of the issues concerning corporate payments.
According to Guo, Web3 companies have been facing issues with processing their cryptocurrency payments on an enterprise scale.
Therefore, Reap has decided to fill the gap by offering a smooth and unobstructed payment solution that is also scalable. This system allows users to convert cryptocurrencies into fiat without the need for traditional banks to be intermediaries.
He also claimed that thus far, the industry standard has been to depend on the traditional banking network for payment verification. He exclaimed that Reap was going to bridge the gap between the Web2 and Web3 companies.
Reap has also partnered with Fireblocks, which is a blockchain services provider offering products and supplements for crypto operations.
Reap’s Integration with Fireblocks
According to Fireblocks SVP, Stephen Richardson Reap is going to facilitate the operational efficiency for Web 3 entities. Reap Card is a tool for simplifying global payments using fiat alternatives such as USDC, Bitcoin, and Ethereum.
It aims to solve the issue of expensive payment channels, including multi-layered off-ramp service providers.
Gnosis is a digital service provider that has worked with Reap Card to deal with its billing issues and reduce execution time.
The communications and marketing team of Gnosis called Dosh claimed that the digital enterprise has been able to utilize the innovative and solution-oriented services provided by Reap as one of its earliest consumers.