Bleap Raises $2.3M to Bridge the Gap Between Blockchain and Traditional Banking

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

Two former employees of Revolut have joined forces to establish Bleap, a self-custodial stablecoin application that seamlessly integrates with a Mastercard-linked debit card. The platform has successfully secured $2.3 million in pre-seed funding to spearhead this innovative venture.

This cutting-edge app boasts a self-custodial wallet, empowering users to maintain complete autonomy over their assets on the blockchain at all times. Moreover, the platform offers multi-currency accounts with savings rates that reportedly outpace those proffered by traditional banks by a factor of five.

Bleap users can effortlessly deposit stablecoins from external wallets or directly purchase them using fiat currency. The app also facilitates crypto on- and off-ramping without incurring any fees, providing users with a convenient and cost-effective 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 bolsters security through its blockchain-based model.

The Founders' Vision for BleapBleap was conceived by Joao Alves, who spearheaded Revolut's card program, and Guilherme Gomes, a former software engineering lead at the fintech company. The founders are driven by a shared vision of merging the strengths of blockchain technology with the conveniences of traditional banking. Alves has highlighted the app's ability to combine cutting-edge blockchain functionalities with banking services that users find intuitive and reliable.

This funding round, which assigned the company a pre-money valuation of $10 million, was spearheaded by Ethereal Ventures. Other investors include Maven11, Alliance DAO, Robot Ventures, and angel investors from Revolut, Phantom, OKX, EigenLayer, and Consensys.

Bleap is VASP-registered in the EU and operates out of the UK and Poland. Currently in beta, the app is being trialed by select users across Europe. The team aims to fully launch the service in Q1 2025, making it widely available to users.

Bleap's Impact on Blockchain-Based Financial ServicesBleap'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.

This 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 well-positioned to become a major player in the stablecoin and self-custodial wallet space.