World App, the gateway to the Sam Altman-founded Blockchain Network World, has begun piloting Virtual Bank accounts in the US, giving its users a new way to plug their daily finances directly into the crypto economy.
The issues feature unique virtual account numbers, which allow users to receive direct deposits, such as payroll payments, directly into the app world without employers having to deal with blockchain rails or worry about gas bills.
When funds hit their virtual account, they are automatically converted to USDC.
The pilot is starting in the US for the first phase, with expansion to additional countries coming in future phases.
In addition, users can add money from a bank, send USDC globally, or spend it instantly, all for free. The company points to this as a major step towards easing on-ramps to the crypto-native currency.
“Virtual Bank Accounts puts a world-wide vision of global financial finance,” the team wrote in a press release shared exclusively with Coindesk. “While traditional banking infrastructure struggles with the complexity of cross-borders, time zones, and fees, the World app offers something revolutionary: fast, global, 24/7 finance that just works.”
The World Blockchain project can boast significant interest in the crypto industry through its association with its founder Sam Altman, also the CEO of OpenAI. In response to the growing difficulty of distinguishing humans from highly advanced AI and bots online, the world’s central goal is to create a globally verified, privacy-preserving digital identity network known as World ID.
Read more: Sam Altman’s World Crypto Project
