A team of former Revolut employees has introduced Zeal, a DeFi wallet and debit card that allows users to spend cryptocurrency directly on everyday purchases, eliminating the need for conversion to fiat currency.
The Zeal wallet, available as both a browser extension and a mobile app, supports on-chain and everyday payments through a crypto Visa debit card from Gnosis. This launch follows a recent strategic partnership with Gnosis, which includes a $2 million investment.
Hannes Graah, founder of Zeal and former VP of growth at Revolut, explained, “Spending crypto is hard — many view it as an online casino due to its price volatility. Existing wallets have reinforced this notion by focusing heavily on trading. Zeal’s new approach merges a feature-rich EVM wallet with a Visa card, allowing users to pay for a coffee or access Uniswap through the same app. Unlike prior crypto cards that need a fiat balance, the Gnosis Card allows direct spending of on-chain crypto.”
When a merchant requests payment, Gnosis Pay verifies the customer’s token balance in their smart wallet. If the balance is sufficient, the payment is authorized, and the merchant is able to claim it. The tokens are then withdrawn and converted to fiat for the merchant, ensuring the process is both instantaneous and seamless for users.
Friederike Ernst, co-founder of Gnosis, commented, “Given their experience at Revolut, it’s clear that the Zeal team has developed one of the most user-friendly self-custodial wallets in DeFi. The absence of biometrics and seed phrases makes it an ideal choice for newcomers to DeFi. We are particularly excited about the launch of the Gnosis card, as it represents a significant advancement in enabling people to purchase everyday items with their crypto. This also pushes our ecosystem further along the path of integrating Web3 financial infrastructure into existing payment systems.”