AMA session for Incrypted

Weld Money project’s team held an ask-me-anything (AMA) session for Incrypted, a well-known Ukrainian media dedicated to the blockchain and cryptocurrency industry. This AMA session was the first one intended for a Russian-speaking audience. The Incrypted readers asked us a lot of tricky and complicated questions, which we tried to answer as fully as possible. Here are the most interesting questions from the crypto community.

The full version of the AMA session can be found here (in Russian).

We designed a Visa card allowing you to pay for purchases directly from the accounts of Binance, Kucoin, FTX, and other crypto exchanges easily and without additional fees. To achieve it we issue a Visa/Mastercard co-brand card, which can be added to Apple Pay and Google Pay.

We issue a regular Visa card, which can be added to ApplePay and GooglePay. The user connects his exchange wallet via API keys using the Weld application. Then he can pay for purchases via PayPass on his smartphone.

At the payment time the processing center sends us transaction data (for example, $2 for coffee), we transfer the amount (2 UDST) from the user’s wallet, for example, FTX wallet to our FTX, and allow the bank to make the payment. The bank opens a short-term overdraft on the card and transfers the fiat to the merchant. At the business day’s end, we convert the crypto into fiat and transfer it to a bank account closing the overdrafts of our users.

The limits will be $1,000 per day for one user. But if you want to buy a Macbook for $ 1,200, you need to stake the WELD tokens and increase the daily limit for any amount. These limits ensure smooth payments and the absence of suspicions from the side of bank AML offices. Since the amounts are small, such transactions don’t have signs of money laundering.

The fees will depend on the transaction type. Payment by card — from 1.5%, withdrawal in ATM — will be a little more expensive. But for those who stake WELD tokens, the fees drop to zero.

See also Visa & Mastercard at the cryptocurrency industry

The product will primarily start for Ukrainians, but paying by cards all over the world will be allowed. It’s needed for boosting MVP and tracking speed. By the end of the year, we plan to launch Europe, Russia, and other CIS countries.

The Weld company opens corporate accounts on each exchange integrating with, passing the corresponding KYC procedure. By adding API keys to our application, the user can always specify our wallet in his whitelist. Even in case of system hacking, the money will only be transferred to the Weld corporate wallet within the current exchange, but not to the attacker’s wallet. Which, accordingly, doesn’t make any sense.

lifting the daily/monthly withdrawal limits

ordering of premium Visa Infinity cards

fee reduction

We make monthly token buyback for 10% of the real processing business profit. The transaction volume, fees amount, buyback volume will grow correspondently with the number of Weld users.

It will produce a positive effect on the token price, as the buyback will wash the liquidity out of the market. This aspect we took from the well-known Binance Coin model, so we are counting on a similar ‘to-the-moon’. Later, we plan to launch several additional financial services, including staking, insurance, loans, and token deposits.

See also Last chance to keep up with the growing market

The major Weld advantage is the ability to connect not a single specific exchange, but any exchanges and on-chain wallets. Nowadays it’s difficult to surprise anyone with any sort of cashback or and bonus, we also have it within the Visa programs. We will mostly develop all sorts of DeFi features & benefits, applying and combining them with the fiat world.

Sure. The project is subject to licensing both as the crypto and as a fiat one. In terms of the crypto industry, it’s an Estonian Virtual Assets Service Provider License for a legal entity. In terms of fiat, there are some payment partnerships with a license to money transfer, open accounts to individuals, MPS, and banks. The project will follow all the same KYC/AML requirements as a classical financial company.

The answer to this question lies in three planes.


The Weld service and application is part of a company group with a 9-year history. All our companies, including Weld, are audited, advised, and supported by the Crowe Erfolg international audit company, which is in the top 9 of the world ranking.

It guarantees users transparency of beneficiaries, legal, financial, and accounting models, as well as compliance with international and local regulatory requirements. All companies are regularly thorough externally audited.


The Weld project is part of the technical infrastructure of the PayRun international payment system, which is licensed by the National Bank of Ukraine (NBU) and annually technically audited and PCI DSS certificated.

Kyte Global is an exclusive partner of our security system technical audit, which guarantees compliance with strict international standards for financial institutions making payments and transfers.


The Weld service opens corporate accounts on each exchange which integrating with, passing the corresponding KYC procedure.

By adding API keys to our application, the user can always specify our wallet in his whitelist. Even in the case of our system hacking, the money can be transferred only to the Weld corporate wallet on the current exchange, but not to the hacker’s one. Which, accordingly, doesn’t make any sense.

The 2nd pre-sale round will take place on our website Weld on September 8. The detailed guide is in our Telegram.

Totally $250,000 in WELD tokens will be available. We want to allow our community to enter the project at the lowest token price (much lower than at IDO) and become the first users and testers of Weld crypto cards!

WELD token pre-sale price is $0.06. IDO/Listing price — $0.075. IDO is scheduled for September.

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Meet WELD crypto card, the only seamless Payment solution for day-to-day expenses.

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Weld Money

Meet WELD crypto card, the only seamless Payment solution for day-to-day expenses.