Bleap is thrilled to announce a £1.8 million pre-seed round to launch a self-custodial payments app enabling customers to spend stablecoins 1:1 with a debit card, with no fees and up to 2% cashback on purchases.
At Bleap, we believe blockchain is the future of financial services. Founded by former Revolut employees Joao Alves and Guilherme Gomes, Bleap is building a blockchain-powered neobank to deliver a radically new, user-centric banking experience. “We wanted an app that combines blockchain’s power with the best of banking,” says Joao, who previously led Revolut’s card program.
The funding round was led by Ethereal Ventures with support from Maven11, Alliance DAO, Robot Ventures, and angel investors from Revolut, Phantom, OKX, EigenLayer, and Consensys.
Bleap provides a self-custodial wallet linked to a Mastercard debit card, letting users spend stablecoins directly in the real world without conversion fees. The app also supports multi-currency accounts with savings rates nearly 5x higher than traditional banks, enabled by stablecoins and decentralised finance. Users can transfer funds globally, instantly, and without fees. Because Bleap doesn’t hold user funds, customers retain 24/7 access to their assets directly on the blockchain.
Bridging stablecoins and blockchain to everyday spending
Stablecoins continue to grow, offering cryptocurrency benefits with real-world stability. With new MiCA regulations in Europe, Bleap is ready to bridge digital currencies and everyday spending, using blockchain’s efficiency for fast, low-cost transactions.
How Bleap works: A new approach to managing crypto
Bleap eliminates the need for traditional seed phrases, opting for cloud storage and social logins powered by Multi-Party Computation (MPC) technology from PortalHQ. Once users create an account, a smart wallet is deployed using Account Abstraction (ERC-4337), providing a familiar, secure web2-like experience for managing web3 assets. Built on Arbitrum, Bleap ensures fast, gasless transactions and offers a Mastercard linked to the wallet, allowing stablecoin spending with up to 2% cashback.
Users can add stablecoins from external wallets or purchase them with fiat. Bleap also supports fee-free crypto on- and off-ramping via external wallet connections.
What’s next: Full launch in early 2025
Incorporated in the UK and Poland and registered as a Virtual Asset Service Provider (VASP) in the EU, Bleap is currently in beta with select European users. The full public launch is scheduled for Q1 2025, bringing crypto payments across Europe.
