Several former employees at Revolut have released a cryptocurrency wallet known as Zeal to help users manage their crypto assets easily and safely.
The initiative was led by the former vice president of growth at Revolut, Hannes Graah. Graah started creating the Zeal wallet in 2022. The wallet seeks to create a user-friendly, safe solution supporting seamless interactions between blockchain and the real world.
Zeal Crypto Wallet To Simplify Crypto Spending
The Zeal wallet is available as a mobile application and a browser extension. It will support blockchain-based and everyday payments through Gnosis’s crypto Visa debit card.
The team secured a partnership deal with Gnosis earlier this month, which included a $2 million investment.
While commenting on this development, the founder and former VP of growth at Revolut, Hannes Graah, opined that spending crypto assets was challenging. Because of the high volatility of crypto assets, most wallets in the market have been solely created to focus on trading.
“Zeal’s new approach combines a feature-packed EVM wallet with a Visa card that lets people buy a coffee or connect to Uniswap from the same app. Unlike previous crypto cards that require a fiat balance, the Gnosis Card spends onchain crypto directly,” Graah opined.
Easing Crypto Payments
Zeal will set itself apart from the market by making cryptocurrency payments easier. The wallet provider has many competitors in the industry, and it now seeks to become the ideal choice for crypto enthusiasts seeking to safeguard their assets, while also having an easy way of interacting with Web3 applications.
The wallet works hand in hand with Gnosis Pay. When a merchant requests payment, Gnosis Pay will check the balance in the customer’s crypto wallet.
If the balance is enough, the payment will be authorized and processed. The merchant can then withdraw the payment and convert it to cash.
According to the co-founder of Gnosis, Friderike Ernst, this wallet was one of the most user-friendly in the DeFi industry.
Zeal is easy to use, unlike most wallets as it does not need biometrics or seed phrases. The wallet will make it easy for people to buy everyday items using cryptocurrencies.
It will also see the crypto ecosystem inch closer to bringing Web3 into the existing payment industry. The offering will contribute to the broader adoption of crypto wallets.
