Two former employees of Revolut have successfully raised $2.3 million in pre-seed funding to develop Bleap, a self-custodial stablecoin application integrated with a Mastercard-linked debit card. This innovative app aims to bridge the gap between blockchain technology and traditional banking by enabling users to spend stablecoins in everyday transactions without incurring conversion fees.
Bleap’s core offering includes a self-custodial wallet, ensuring users maintain full control of their assets on the blockchain at all times. The platform also offers multi-currency accounts with savings rates that are reportedly five times higher than those offered by traditional banks.
Seamless Crypto Integration
The app allows users to deposit stablecoins from external wallets or purchase them directly using fiat currency. Additionally, it supports crypto on- and off-ramping without fees, providing users with a straightforward way to integrate digital currencies into their financial activities. By eliminating the need for Bleap to hold customer funds, the platform ensures 24/7 access to assets and reinforces security through its blockchain-based model.
The Vision Behind Bleap
Bleap was founded by Joao Alves, who previously managed Revolut’s card program, and Guilherme Gomes, a former software engineering lead at the fintech company. The founders have emphasized their intention to combine the strengths of blockchain technology with traditional banking conveniences. Alves has highlighted the app’s ability to merge cutting-edge blockchain functionalities with banking services that users find intuitive and reliable.
The funding round, which assigned the company a pre-money valuation of $10 million, was led by Ethereal Ventures and included investments from notable backers such as Maven11, Alliance DAO, Robot Ventures, and angel investors associated with Revolut, Phantom, OKX, EigenLayer, and Consensys.
Regulatory Compliance and Future Plans
Operating from the UK and Poland, Bleap has registered as a Virtual Asset Service Provider (VASP) in the European Union, ensuring compliance with regional regulations. The app is currently in its beta phase, being tested by select users across Europe. The team plans a full public launch in the first quarter of 2025, making the service widely available.
Transforming Blockchain-Based Financial Services
Bleap’s innovative model represents a significant step forward in integrating blockchain technology into everyday financial systems. By offering features such as fee-free transactions, multi-currency savings accounts, and full custody of funds, the platform appeals to a growing audience of crypto-savvy users seeking seamless financial solutions.
The initiative reflects a broader trend of former fintech professionals leveraging their expertise to build blockchain-powered services that challenge traditional financial systems. With its unique approach and strong backing from industry leaders, Bleap is positioned to become a major player in the stablecoin and self-custodial wallet space.