Wallet provider Argent to launch crypto card in partnership with Kulipa and Mastercard

The new product will utilize a solution from the Starknet team based on zero-knowledge-proof technology

10.07.2024 - 14:05

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Last updated on Aug 6, 2024

What’s new? Crypto wallet provider Argent has begun collaborating with payment company Mastercard and blockchain startup Kulipa to create a crypto payment card. According to a press release, the new product will utilize a solution from the Starknet team based on zero-knowledge proof (ZK) technology.

Material by The Block

What else is known? The card will allow payments in stablecoins: issued by Circle USDC or PUYSD and USDP from issuer Paxos. The coins will be automatically converted to fiat during transactions, saving merchants from integrating additional tools for crypto payments.

The Argent wallet focused on decentralized financial protocols (DeFi) has more than two million users. It is mainly focused on utilizing the Ethereum blockchain-based Starknet Layer 2 (L2) network. The company was also one of the first to introduce an innovative account abstraction technology that allows wallets to be endowed with features inherent in smart contracts.

According to Argent CEO Itamar Lesuisse, the new debit card will utilize ZK technology to enable low-cost, fast, and secure non-custodial transactions.

Founded in Paris in 2023, Kulipa, a startup developing a non-custodial wallet platform for issuing cryptocurrencies, raised $3 million in a seed round led by Fabric Ventures and White Star Capital earlier this month. White Star noted that there has been exponential growth in the adoption of stablecoins in recent years, but the most popular option for its use in payments has yet to reach the masses.

Kulipa can transact in stablecoins on several blockchains, including Ethereum and some L2-based ones, as well as Solana.

Kulipa was also one of five blockchain startups included in Mastercard’s latest Start Path incubation program.

Earlier, plans to launch a debit card in collaboration with Mastercard were announced by blockchain team Tezos.

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