Wallib is a fintech platform that utilizes the Bitcoin Lightning Network to facilitate instant, low-cost global transactions in both Bitcoin and local currencies. By enabling users to send and receive payments quickly, Wallib addresses the challenges of high fees and delays commonly associated with traditional remittance services.
Funding
$760K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional cross-border transactions often involve high fees and slow processing times, creating barriers for individuals and businesses seeking efficient global payments. Existing solutions can be particularly challenging for those without traditional banking access or those looking to protect their savings from local currency devaluation.
Solution
Wallib provides a mobile wallet and Visa debit card that leverages the Bitcoin Lightning Network to enable near-instant, low-cost global transactions in both Bitcoin and USD. Users can buy, sell, send, and receive funds, protecting their savings from inflation and devaluation. The platform offers a user-custodied wallet, giving users full control over their funds. Wallib also provides cashback rewards in Bitcoin for purchases made with its Visa debit card, incentivizing adoption and use of digital assets.
Target Audience
Wallib targets individuals and businesses in emerging markets who need a fast, low-cost, and reliable way to send and receive money globally, particularly those seeking to protect their savings from inflation and currency devaluation.
Features
- Bitcoin and USD mobile wallet for iOS and Android
- Integration with the Bitcoin Lightning Network for fast and low-cost transactions
- Visa debit card for spending Bitcoin, USD, and local currency at merchants worldwide
- Non-custodial wallet, giving users control of their private keys
- Cashback rewards in Bitcoin on purchases made with the Wallib Visa debit card (between 1% and 5% with partners, 2% on all transactions)
- Support for local currency payments and withdrawals in select markets
- Referral program that rewards users for inviting friends to the platform
- Instant global payments