Bleap, a London-based provider of a self-custodial payments app, raised $2.3 million in Pre-Seed funding.
Ethereal Ventures led the investment round with participation from Maven11, Alliance DAO, Robot Ventures, and angel investors from Revolut, Phantom, OKX, EigenLayer, and Consensys.
Bleap is a digital payments platform that bridges cryptocurrencies with everyday financial activities. It offers a self-custodial wallet linked to a Mastercard debit card, enabling users to spend stablecoins like USDC directly for purchases without conversion fees. For instance, if you buy a $50 item, exactly 50 USDC is deducted from your wallet, with no additional charges. Additionally, users earn up to 2% cashback on all purchases, providing an extra incentive for using the card.
Beyond spending, the Bleap app provides multi-currency digital accounts, allowing users to hold and manage digital USD, GBP, and EUR. These accounts can yield up to 20% annual percentage yield (APY) by leveraging decentralized finance (DeFi) protocols, enabling users to earn interest on their holdings.
The Bleap app also facilitates global, instant, and fee-free fund transfers. Users can send money across borders without incurring traditional banking fees or delays, making it convenient for international transactions. It also supports fee-free crypto on- and off-ramping via external wallet connections.
Incorporated in the UK and Poland and registered as a Virtual Asset Service Provider (VASP) in the EU, Bleap is currently in beta with select European users. The full public launch is scheduled for Q1 2025, bringing crypto payments across Europe.