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Ex-Revolut Leaders Build Zeal, a Digital Wallet Designed For Your Whole Financial Life
Zeal, a digital wallet built to handle your whole financial life, aims to set the new standard in wallet user experience when managing crypto or interacting with web3 and decentralized finance apps (DApps).
“The status quo for wallets is not good enough. Clunky wallets built for technocrats or the casino are hard to use and easy to lose money with. People need a wallet that’s safe, easy, and works seamlessly with blockchain networks and the real world. We need something easier than cash, safer than a bank, and that lets people access the best of all worlds”, says Hannes Graah, Builder at Zeal, former Revolut executive.
Current wallets are plagued with poor protective measures, requiring users to install additional plugins in hopes of staying safe. Despite this, hacks and mistakes remain commonplace. In a Chainalysis Crime Report, wallets were ranked as the third largest target for crypto hacks in 2022, the industry’s most exploitative year.
Several factors set Zeal apart from the current wallet market. Specifically, it solves the security problem with advanced safety checks and previews for web3 transactions that keep people safe from scams and hacks. It’s also bringing to market a world-first; bank transfers that let users transfer USDC from Polygon to their bank account, for free. This is an important stepping stone for people to start thinking of their wallets as part of their finance stack.
The Zeal team’s mission is to empower people to transact freely without intermediaries. That’s why they’re building a digital wallet for people’s whole financial lives, whether on-chain or off-chain. The team consists of 11 former Product and Engineering leaders from Revolut, Spotify, Coinbase and other renowned institutions. Zeal is backed by Galaxy, Framework, Variant Fund, Northzone, and several others.
“The Zeal team has crafted an exceptional wallet experience that truly stands out,” said Will Nuelle, General Partner of Galaxy’s Venture arm, who is a backer of the company. “Their knack for blending user-friendly design, robust security measures, and comprehensive on-chain asset visibility raises the bar for what we should demand from a wallet.”
Zeal wallet is in development with invite-only access. The team is onboarding early “zealots” to try the product ahead of its wider release in Q1 2024.
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EXCLUSIVE: “Taking the Pain Out of Compliance” – Camillo Werdich, Sinpex in ‘The Fintech Magazine’
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U.S. Bank Leverages Gen AI for Banking Services
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