World Network, co-founded by Sam Altman, is reportedly in talks with Visa for collaboration, aiming to create a digital wallet that combines stablecoin payments with Visa card functionalities, allowing every user to have a financial experience akin to a “mini digital bank.”
(Background: Musk offered $97.4 billion to acquire OpenAI! Sam Altman swiftly rejected, retorting: “Then I’ll buy X (Twitter) for $9.74 billion.”)
(Context: OpenAI has downsized! Altman: No plans to sue DeepSeek, focusing on creating better products.)
World Network, a blockchain project co-founded by OpenAI CEO Sam Altman, is said to be negotiating with global payment giant Visa to integrate Visa card functionalities into its digital wallet, World Wallet, further expanding the use cases of stablecoins to create “mini bank accounts accessible to anyone.”
Sources indicate that World Wallet will support stablecoin payments, foreign currency and crypto asset transactions, wallet top-ups, peer-to-peer transfers, and card payments, aiming to provide a one-stop financial experience, particularly attractive to communities lacking traditional financial services.
Negotiations with Visa and Rain to extend on-chain payment possibilities
According to a report by CoinDesk, Tools for Humanity, responsible for the development of Worldcoin and World Network, has submitted product collaboration proposals to several card issuers and is in discussions with Visa regarding further cooperation details.
In addition to Visa, World Network is also negotiating with Rain, a crypto financial card service provider supported by investments from Coinbase and Circle, which has previously assisted projects like Optimism and Avalanche in launching on-chain Visa cards and has extensive integration experience.
Insiders suggest that this collaboration could enable World Wallet to support Visa’s thousands of global merchants, providing stablecoin users with instant checkout and cross-border payment capabilities.
World Chat launched, expanding into comprehensive digital applications
Recently, World Network launched the chat application World Chat, allowing users to send messages and conduct cryptocurrency transfers in real-time over the internet, demonstrating its clear ambition to develop into a “multi-functional on-chain application platform.”
The underlying foundation of World Network is derived from the Worldcoin system, which centers around biometric verification. This system utilizes the iris scanning device The Orb to establish unique user identity credentials while simultaneously activating wallet functionalities. Although this approach raises privacy concerns, it possesses a high level of recognition in the field of identity verification.
Amid potential, risks and controversies remain
Despite Sam Altman’s high profile and resource backing attracting significant media and capital attention for World Network, its operational model is not without controversy. Specifically, the collection of biometric data by Worldcoin has previously raised questions from regulatory authorities in Europe and Latin America, and it may face regulatory challenges in the future.
On the other hand, stablecoin and digital asset payments are still in their early stages of development, encompassing exchange rate risks, regulatory compliance, and user education issues. Investors and users must carefully evaluate potential risks and return ratios before committing resources.
Currently, Visa, Rain, and Tools for Humanity have not publicly commented on the progress of the negotiations.
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