Unizen Incubator ZenX Labs to Accelerate Weld Money’s Mission to Bridge Crypto with Fiat

The Unizen Exchange community has another hot prospect to get its teeth into with the news that Weld Money is being backed by the ZenX Labs incubator.

ZenX Labs aims to help Weld Money build up its business network to ensure its solutions are compliant as it looks expand into newer markets around the world, beyond the CIS region.

Weld Money has developed a payment service that connects its credit card to multiple leading crypto exchanges, DeFi applications, and crypto wallets, so users can easily spend those funds at the point of sale terminals in retail stores all over the world. The company, which has more than 50 staff with expertise in traditional finance, crypto, web development, and analytics, has already established a solid presence in Estonia, Russia, and Ukraine and is now looking to expand its services globally.

Weld Money sees itself as a much-needed “bridge” across the world of crypto and fiat. It says its services enable a new generation of blockchain game players and social media influencers who receive donations in crypto to spend those earnings easily and safely, no matter what wallet they’re using.

Someone who has digital assets like BTC, ETH or USDC can simply link their wallet or exchange account to Weld Money, and then access those funds through a credit card and use them for regular expenses, such as buying clothes in a store, paying for lunch and so on. The major benefit is the convenience it offers – previously, users would need to withdraw those funds from an exchange to a wallet, then sell them for fiat, before they can spend them.

Now that ZenX Labs is backing the project, Weld Money will benefit from its expertise in areas such as brand strategy and compliance, and it will be able to tap Unizen’s global network as it looks to tap into international markets. Unizen’s Chief Executive Sean Noga said he thinks there will be a big demand for this kind of service.

“We see immense opportunity to strengthen the bridges between traditional finance and crypto and believe the Weld Money team are highly capable and well equipped to pioneer this journey,” he said, explaining why ZenX Labs is backing the project.

For the Unizen community, this is good news as it means they will be able to get in on yet another exciting new project in its early stages. That’s because Weld Money is allocating a number of its WELD utility tokens to be distributed through Unizen’s Dynamic Multi-Asset Staking service. Users who stake ZCX tokens will be able to earn WELD tokens as a reward for doing so and then benefit from lower transaction fees if they use the Weld Money app.

WELD tokens have other benefits too. Users receive cashback in WELD when they make payments using their Weld card, for example, and they can also stake the tokens. It’s also possible to buy a digital NFT “skin” for Weld credit cards.