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Hacken & Weld Are Making Daily Payments in Crypto Popular Feature

UTC by Andy Watson · 4 min read
Hacken & Weld Are Making Daily Payments in Crypto Popular Feature
Photo: Hacken Club / Medium

Weld is integrating Hacken token (HAI) as a payment instrument into the weld wallet.

The holders of HAI, a native token of the Web 3.0 cybersecurity company Hacken, will become among the first crypto enthusiasts in Eastern Europe to buy whatever they want in their daily life using virtual assets.

Hacken CEO Dyma Budorin views this integration as a major step towards mass adoption of crypto:

“One of the elements of the Hacken Strategy for 2022 is delivering greater value to the community through HAI. By paying for traditional goods and services in HAI, users will feel that they own real assets. This integration will strengthen ties between Hacken and our community.”

The popularity of virtual assets is on the rise despite price fluctuations. 3.9% of people worldwide own crypto, while in some Eastern European countries such as Ukraine and Russia, this indicator equals 12.7% and 11.9% respectively. Such a high level of popularity may indicate that mass adoption of crypto has taken place. But it’s not a fully correct statement since users still need to convert virtual assets into fiat to pay for goods and services in their daily life. This process is associated with spending time and paying withdrawal commissions thereby causing inconvenience to users.

The Solution to the Problem

Weld & Hacken are going to fundamentally change the situation. Weld is integrating Hacken token (HAI) as a payment instrument into the weld wallet. HAI holders will get a branded digital weld card and will need to connect their HackenAI address (address of the wallet where they hold HAI) to weld wallet to pay for goods and services in their virtual assets using Google Pay or Apple Pay.

Mechanism

Hacken community will be allowed to pay only in HAI, other virtual assets will not be supported. When a user pays in HAI, the virtual assets are received by Weld Money and a vendor gets fiat. Hacken will immediately buy back all HAI tokens paid by users in stablecoins. As a result, payments in HAI will not lead to fluctuations in the price of token.

There are no card issuance and monthly fees as well as pop-up commissions.

What to Buy for HAI

There are no limitations on what products to buy using a weld card. If a vendor accepts payments made via VISA banking cards, then a user is free to pay using the Hacken weld card. Also, there are no geographic limitations.

Any Perks for Cardholders?

When paying in HAI, a user will get cashback of up to 9% per transaction.

When to expect the release of the Hacken weld card?

The card will appear in the coming months after the official release announcement.

The integration of HAI into the weld payment system is the result of the partnership between Hacken & Weld that was established in 2021. The two projects are focused on popularizing virtual assets in Eastern Europe by making crypto a convenient financial instrument for everyone.

About Weld Money

The company develops issuers of fiat cards that bond to cryptocurrencies and wallets which store digital assets. The startup was founded by Oleksiy Meretsky, Oleksiy Bobok, and Iryna Lorens. Weld Money became the first cryptocurrency card service in Eastern Europe to sign a card issuance agreement with banks and regulators. WELD Money is on a mission to bridge the two extreme worlds of crypto and traditional financial systems. The WELD community can get a seamless payment solution system with several functions of the standard crypto wallets but with an added advantage. WELD Money allows the users to use crypto for daily transactions like paying for coffee, gas, groceries, etc.

About Hacken

Hacken is one of the leading providers of B2C and B2B Web 3.0 cybersecurity services to clients from Europe, Asia, and North America representing such industries as crypto, sharing economy, retail, financials, airlines, blockchain, etc. Hacken ecosystem is powered with native utility token HAI. Since 2017 Hacken has entered into cooperation with 500+ companies including such famous brands as Vechain, Gate.io, KuCoin, CoinGecko, CoinMarketCap, and others. The list of Hacken partners includes more than 80 brands, among which Solana Foundation and Simplex. Since March 2021, Hacken has been an active member of the Linux Foundation. As of now, Hacken has saved users’ assets worth >$10B.

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Andy Watson
Author Andy Watson

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