We are now ready to announce that we have managed to set a brand-new partnership with one of the most innovative blockchain&crypto projects — NEAR. NEAR or more correctly — NEAR Protocol is a first-layer blockchain that uses a unique sharding technology called ‘Nightshade’ to achieve the highest level of scalability. It was launched in 2020 as a decentralized cloud infrastructure for hosting decentralized applications (DApps).
At the same time, NEAR Protocol has its own native token called NEAR. It is used to pay fees for transactions and data storage. NEAR token holders can also earn rewards for staking coins in the NEAR wallet or use them to vote on governance proposals.
As a result of our partnership with NEAR, we aim at the first stage to implement the native NEAR token and stablecoin USDN as a payment instrument in the Weld Money system, and in the future — to integrate the NEAR blockchain into our ecosystem and add the opportunity of connecting the NEAR wallet for making payments using the weld card directly.
Let’s now take a closer look at some details of our partnership.
Why is it so important?
In Weld Money we always struggle and try to do our best in breaking old and obsolete financial & payments systems and creating and promoting a new one. One of the solutions is indeed simplifying and popularizing payments with cryptocurrencies and other digital assets. This solution is provided by our product — weld card.
We plan to implement the NEAR token and USDN stablecoin into the Weld Money ecosystem and eventually add it to our app and website so weld card users can make daily payments using the NEAR token.
The partnership with NEAR Protocol will obviously increase demand and interest in the Weld Money project among NEAR and Weld Money community members, as well as potential investors and other crypto enthusiasts.
The NEAR native token is one of the most promising tokens today, with a daily trading volume of around 150 million USD and a 25th position in the global market ranking. NEAR has a total supply of 1 billion tokens, and the project maintains the constant demand for the token by burning a set number of tokens.
About NEAR Protocol:
NEAR is a Proof-of-Stake blockchain that launched its mainnet in 2020. It is a decentralized development platform designed to provide a perfect ecosystem for DApps (Decentralized Applications) by overcoming some of the limitations of competing systems (such as low bandwidth, low speed, and poor cross-compatibility).
A developer-friendly blockchain that includes a number of innovations to increase scalability and reduce costs for developers and end-users. According to the creators, the application on NEAR can be launched in just 5 minutes. NEAR is open source, anyone can start contributing to its development.
NEAR Protocol raised nearly $50 million in private funding within the first four months before the blockchain was even built, during a bear market. Among other things, NEAR also interacts with Ethereum via the Rainbow Bridge, a secure bridge that allows assets such as ERC20 and NFT tokens to be transferred between Ethereum and NEAR. Eventually, it is even possible to interact with smart contracts and DApps on both sides using the Rainbow Bridge.
The overall launch of weld cards will be carried out soon. In the nearest future, we are planning to provide weld card coverage for all major cryptocurrencies as well as other digital assets (e.g. metaverse tokens). And NEAR integration is one of the first steps towards it.
So follow Weld Money and stay tuned for our updates and weld card launch date to be among the first ones to get it.