World Network, the project linked to Sam Altman and Tools for Humanity, is in negotiations with Visa to integrate new features into its self-custody crypto wallets. This collaboration could revolutionize access to digital payments on a global scale, leveraging Visa’s network and the potential of blockchain technology.
Summary
World Network x VISA: a revolution for non-custodial crypto wallets
The former Worldcoin, now renamed World Network, is considering a collaboration with Visa to integrate payment functionalities based on stablecoin and cards into a new crypto wallet system. According to CoinDesk, which cites a source close to the negotiations, the goal is to create an accessible and secure financial ecosystem, with the possibility of using digital assets directly on Visa circuits.
This initiative follows the reports from Bloomberg which, already in the previous April, highlighted talks between World Network, PayPal and OpenAI, with the intent to expand the technological and operational impact of the project. If the agreement with Visa were to materialize, the new wallet, World Wallet, could leverage Visa’s global merchant network, offering innovative financial tools such as currency conversions, on-ramping and off-ramping of fiat currencies, and transactions based on stablecoin.
Advanced payment tools and strategic collaborations
The team at Tools for Humanity, led by Sam Altman, has already initiated requests to major card issuers, a clear signal that the development of the new platform is actively underway. Additionally, the company is collaborating with crypto card facilitators like Rain, a startup supported by Coinbase and Circle, specializing in providing Visa on-chain cards for blockchain projects like Optimism and Avalanche.
Rain, in fact, announced on March 24th that it has secured 24.5 million dollars in a funding round led by Norwest Venture Partners, with participation from Galaxy Digital, Coinbase Ventures, and Lightspeed. This capital injection could accelerate the integration of World Network’s payment solutions with Visa circuits, offering users greater flexibility in the use of digital assets.
Digital identity and security in payments
World Network is based on iris-scanning biometric technology, already at the center of numerous discussions on privacy and digital identity. This system allows for the creation of a unique biometric ID, which could ensure secure transactions by eliminating the need for traditional intermediaries. When combined with the crypto wallet, this technology would offer a level of security and personalization that few other services can match.
The integration of these financial instruments with biometric ID could represent a significant step forward in the management of digital identity and security in crypto payments. However, several questions remain about how World Network will address concerns related to the protection of personal data.
The expansion of the World Network ecosystem
The project is not limited to crypto payments only. On March 7, World Network launched World Chat, a mini-app designed for secure communication between verified users on the platform. The application, currently in Beta phase, integrates various features, including the Contacts tab, the World ID protocol, and the World App wallet, creating an end-to-end encrypted messaging environment.
With the launch of World Chat and the already operational peer-to-peer transactions, World Network aims to build a complete ecosystem that combines finance, communication, and digital identity. The ambitions of the team behind the project go beyond simple crypto wallets, aiming to structure a decentralized financial infrastructure accessible on a global scale.
An insider, speaking with CoinDesk, described World Wallet as a sort of “miniature bank account” accessible to anyone, regardless of geographic location or traditional inclusion in financial systems.
Impacts and future prospects
If the partnership with Visa were successful, the project could redefine the decentralized payments sector, expanding the user base and offering a viable alternative to traditional banking circuits. At the same time, the growing use of biometric technology in financial transactions could trigger new debates on privacy and the management of sensitive data.
In a context where the crypto sector is subject to constant evolution and new regulations, World Network could represent an innovative model for the management of digital identity and decentralized payments. It remains to be seen whether the project will be positively received by financial institutions and governments or if it will encounter regulatory barriers that could slow its spread.
In summary, the possible collaboration between World Network and Visa signals the ambition to create a more accessible, secure, and integrated crypto ecosystem within global financial circuits. The road to widespread adoption is still long, but the strategic moves of the company suggest that the future of the sector could be increasingly interconnected between blockchain, digital identity, and traditional payments.