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The Gnosis Pay Network is the world’s first Decentralized Payment Network (DPN) designed to integrate traditional finance with decentralized finance (DeFi). It aims to enhance payment ecosystems for organizations and wallets seeking innovative financial features.
The Gnosis Pay Network is the world’s first Decentralized Payment Network (DPN) designed to integrate traditional finance with decentralized finance (DeFi). It aims to enhance payment ecosystems for organizations and wallets seeking innovative financial features.
Gnosis Pay allows retaining existing infrastructure while adding advanced DeFi functionality. It enables streamlined fiat-crypto transfers by linking crypto accounts to traditional banking. New monetization pathways empower web3 projects with fresh revenue streams. Self-custodial infrastructure reduces costs compared to legacy banking.
Operating as a Layer 2 on Gnosis Chain boosts security with gasless transactions and near-instant payment finality. It facilitates wallet-to-wallet transactions without KYC using account abstraction for added trust. The open network integrates smoothly with wallets, payment schemes, and traditional finance.
The Gnosis Card provides self-custody spending of crypto anywhere Visa is accepted. Users can instantly invest in and trade digital assets and utilize decentralized lending/borrowing. Built on Safe’s trusted custody platform securing over $100B, Gnosis Pay brings compliant DeFi functionality to the mainstream economy.
After the Gnosis Card and Network launch in Q3 2023, Gnosis will release a mobile wallet app and support more blockchains, wallets, and fiat onramps. 2024 brings additional integrations, plus POS terminal support to enable crypto retail payments. Gradual rollout focused on security, compliance, usability, and flexible interoperability aims to drive sustainable mainstream decentralized finance adoption.
The Gnosis Card is initially available in most European countries including the UK, Germany, France, and more. Upcoming target markets for expansion include the US, Brazil, and India. Compliance with EU regulations enables accessing millions of merchants worldwide that accept Visa.
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