The team of former Revolut employees — João Alves and Guilherme Gomes — has raised $2.3 million in pre-seed funding to develop the Bleap application. The developers describe it as a "bank account on the blockchain." Ethereal Ventures, founded by Joe Lubin, the creator of Consensys, led this funding round. Other investors include Maven11, Alliance DAO, Robot Ventures, Credibly Neutral, and leading specialists from Revolut, Phantom, OKX, and EigenLayer. The funds raised have boosted the startup's valuation to $10 million.
Bleap is a non-custodial application for payments in stablecoins USDC, USDT, USDA, and EURA. It allows users to spend stablecoins via a Mastercard debit card without conversion fees and offers cashback of up to 2% on purchases.
Bleap operates on the Ethereum Layer 2 Arbitrum, ensuring fast transactions. Instead of traditional seed phrases, it uses multi-party computation (MPC) technology from PortalHQ. This allows users to store keys in the cloud and access them through social logins with a high level of security.
Additionally, Bleap supports multi-currency accounts with interest rates that are five times higher than those of traditional banks. The app enables instant international transfers without fees.
Bleap offers:
- Non-custodial nature — funds remain fully under the owner's control.
- Yield from DeFi protocols — the ability to earn on stablecoins.
- 1:1 spending in stablecoins without conversion.
- Free virtual cards.
- Simple UX. Spending cryptocurrency is as easy as using cash.
- And many more innovations coming soon.
- The beta version of Bleap is already available on Arbitrum One.
The company is registered in the UK and has a license in Poland as a virtual asset service provider (VASP), allowing it to operate under MiCA regulations across Europe. A public launch is slated for the first quarter of 2025, with plans to enter the Latin American markets in 2025 and launch its own token in 2026.
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