Bleap: a blockchain startup from former Revolut employees offers Mastercard payments without fees and cashback up to 2%

A team of former Revolut employees — João Alves and Guilherme Gomes — has raised $2.3 million in pre-seed investment to create the Bleap app. The developers call it a «bank account on the» blockchain. The leader of this round of funding was Ethereal Ventures, founded by Joe Lubin, the creator of Consensys. The investors also include Maven11, Alliance DAO, Robot Ventures, Credibly Neutral, and leading experts from Revolut, Phantom, OKX, and EigenLayer. The funds raised increased the startup’s valuation to $10 million.

Bleap — is a non-custodial application for payments in USDC, USDT, USDA, and EURA stablecoins. It allows users to spend stablecoins via a Mastercard debit card without conversion fees and offers cashback of up to 2% on purchases.

Bleap is powered by the Ethereum Layer 2 Arbitrum, providing fast transactions. Instead of traditional passphrases, it uses PortalHQ’s Multiparty Computing (MPC) technology. This allows users to store keys in the cloud and gain access through social logins with a high level of security.

In addition, Bleap supports multi-currency accounts with interest rates that are five times higher than those offered by traditional banks. The app allows instant international transfers without fees.

Bleap it:

Non-custodiality — funds remain under the full control of the owner.
Profitability from DeFi protocols — an opportunity to earn money on stablecoins.
1:1 costs in stablecoins without conversion.
Free virtual cards.
Simple UX. Spending cryptocurrency is no more difficult than using cash.
And there are many more innovations that will soon be available.
The Bleap beta is already available on Arbitrum One.

The company is registered in the UK and licensed in Poland as a Virtual Asset Service Provider (VASP), which allows it to operate under MiCA regulations across Europe. The public launch is scheduled for the first quarter of 2025. The company also plans to enter the Latin American markets in 2025 and issue its own token in 2026.

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