January 11, 2023 – Reap, the global financial technology company powering spend management through the industry’s first Reap Visa Corporate Card (Reap Card) platform, launches an industry-leading innovation by including the functionality of cryptocurrency payment for industry Web3. Along with Reap Card, Reap offers expense management software that will allow Web3 businesses to settle their fiat payments with cryptocurrency.

Daren Guo, co-founder of Reap, said:

“We noticed a gap in the payments market involving Web3 projects facing challenges settling corporate expenses with non-fiat currencies such as cryptocurrency. Currently, there is no trouble-free and scalable solution for converting cryptocurrency to fiat as traditional banks have not been able to establish an industry standard for these Web3 businesses. Reap can now bridge the gap between the business of Web3 and the fiat economy of Web2.”

Security and stability are at the forefront of the minds of customers leveraging Web3 technologies. To build a trusted ecosystem, Reap integrated with Fireblocks to create new blockchain-based products and manage day-to-day operations of digital assets.

Stephen Richardson, Senior Vice President of Financial Markets at Fireblocks, added:

“The security of digital assets is of the utmost importance when it comes to building customer trust, so we are delighted to be working with Reap to drive frictionless and secure payments for Web3 creators. Reap’s solution improves the operational efficiency of Web3 projects, allowing project founders and owners to focus on building innovative products with greater peace of mind. We are proud to be working with innovative companies like Reap that will enable the next generation of digital assets.”

The Reap Card simplifies the process of settling global fiat payments by using USD Coin (USDC), Tether (USDT), Bitcoin (BTC) and Ether (ETH) seamlessly to solve the problem of expensive handling fees that include multiple off-ramp parts. . Digital provider Gnosis has already used this service to see firsthand how Reap Card streamlines complicated currency conversion processes and billing issues, freeing up executive time to focus on core business operations.

Dosh, Gnosis Marketing and Communications Team, said:

“As an early adopter of the Reap Card, we have been able to take advantage of its innovative suite of products and seamlessly settle payments in fiat currencies. Reap’s solution has been particularly helpful in overcoming the pitfalls and obstacles often encountered when trying to use cryptocurrency to navigate the traditional banking system.”

Reap envisions a future where all businesses, regardless of size and industry, have the opportunity to operate to their full potential by creating and applying innovative financial solutions. Reap is committed to orchestrating success with all types of businesses to capture global opportunities in an ever-changing competitive global marketplace.

about harvesting

Reap is a financial platform that enables financial access and connectivity through innovation for businesses of all sizes. Reap combines expense management software with a range of innovative payment products, including the flagship Reap Visa corporate credit card. Reap is committed to helping businesses orchestrate success by providing the best financial tools that evolve with their customers and the marketplace.

Reap is backed by industry-leading investors, including Acorn Pacific Ventures, Arcadia Funds, HashKey Capital, Hustle Fund, Fresco Capital, Abacus Ventures, and Payment Asia. Reap was founded in 2018 and has expanded to a team of over 40, working in offices in seven countries.

Learn more here. Media inquiries: Reap media@reap.global.

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daniel choy

daniel@reap.global