Summary
-
World Network, associated with OpenAI’s CEO Sam Altman, is in talks with Visa to integrate card features into its crypto wallet, potentially granting users access to Visa’s global merchant network and enabling fiat/crypto conversions and stablecoin payments.
-
This move builds on World Network’s existing infrastructure, which includes a self-custody wallet, the controversial iris-scanning World ID for unique biometric identification, and the recently launched secure messaging app, World Chat.
-
The potential Visa partnership and existing features position World Network as aiming to become a comprehensive platform encompassing finance, communication, and digital identity within the crypto space.
World Network, the cryptocurrency and digital identity project originating from Tools for Humanity and associated with OpenAI’s Chief Executive Officer Sam Altman (formerly known as Worldcoin), is reportedly in talks with Visa to integrate card functionalities into its self-custody cryptocurrency wallet.
A source familiar with the discussions disclosed this information to CoinDesk on Monday.
World Network and Visa Explore Crypto Wallet Card Integration
This development follows earlier reports from Bloomberg in April, which indicated the project’s pursuit of potential partnerships with PayPal and OpenAI itself to amplify its technological scope and operational impact.
Should these discussions prove successful, the World Wallet would gain access to Visa’s extensive network of merchants globally.
This alliance would facilitate various financial technology and foreign exchange applications, offer straightforward mechanisms for converting between traditional and digital currencies, and enable transactions utilizing stablecoins throughout Visa’s widespread merchant network.
Building Upon Earlier Partnership Discussions
Tools for Humanity, the organization spearheaded by Altman, is demonstrating concrete steps toward implementation, having reportedly engaged card issuers with requests.
The company is in contact with providers of crypto-linked card solutions like Rain, a platform backed by Coinbase and Circle.
Rain supports on-chain Visa cards for projects including Optimism and Avalanche.
Interestingly, just this Monday, Rain announced the successful closing of a $24.5 million funding round, with Norwest Venture Partners as the lead investor, alongside participation from Galaxy Digital, Coinbase Ventures, and Lightspeed.
Leveraging Biometric ID for Secure, Intermediary-Free Finance
World Network’s architecture leverages Worldcoin’s controversial iris-scanning technology, designed to generate unique biometric identifiers for users.
When combined with a wallet, this approach has the potential to enable secure, identity-linked financial services that bypass traditional intermediaries, a feature that distinguishes it from many competitors.
This advancement occurs after World Network’s unveiling of the World Chat application on March 7th. This mini-application is engineered to provide secure communication channels exclusively for verified users within the World Network ecosystem.
Expanding Ecosystem with World Chat Application
Released in its beta phase, World Chat merges a contact list feature, the World ID protocol, and the World App wallet to establish a fully encrypted, end-to-end messaging environment.
Having already launched World Chat and capabilities for peer-to-peer cryptocurrency transfers, and with ambitions encompassing foreign exchange trading and stablecoin payments, World Network aims to become a comprehensive platform for finance, communication, and digital identity management.
Also Read: OpenAI has released an AI agent named “Operator”
OpenAI has introduced its proprietary AI agent, “Operator,” which can perform internet tasks on behalf of the user. The tool can interact with web pages, input text, navigate, select icons, and browse them. It can perform tasks like filling out forms, ordering supplies, or reserving hotels. OpenAI claims that this broadens the scope of AI applications, allowing for more business interaction and saving time on routine tasks. The Computer-Using Agent (CUA) powers Operator, which uses reinforcement learning to integrate GPT-4o’s screen perception with sophisticated reasoning. The agent can perform tasks using a mouse and keypad, and…[Read More]
*Disclaimer*: We at Bitcoinleef.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice and viewers should consult their financial advisors before investing.
Wallets