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Rezolve AI’s CEO, Daniel Wagner, has expressed his dissatisfaction with traditional crypto credit cards, deeming their reliance on fiat conversion at the point of sale as “bananas.” Instead, Wagner advocates for a direct cryptocurrency payment system that bypasses the need for fiat conversion, which he believes is a more authentic approach to mainstream crypto utility.

Current crypto credit and debit cards, such as those offered by Coinbase and MetaMask, convert cryptocurrencies into fiat currencies in real-time, enabling users to spend their digital assets seamlessly across traditional payment systems. However, this model often involves underlying fees or conversion spreads, which can be costly and inefficient for both consumers and merchants.

In contrast, Rezolve AI has partnered with Tether, the largest stablecoin issuer, to launch a direct cryptocurrency payment system. This system integrates Tether’s Wallet Development Kit into Rezolve AI’s Brain Checkout platform, allowing for fee-free and seamless crypto transactions. For merchants, Rezolve AI provides a fee-free conversion of cryptocurrency into fiat, addressing a key barrier to broader crypto payment acceptance.

Wagner emphasizes that traditional crypto cards utilize “offchain credit card rails,” which defeats the purpose of using cryptocurrencies in the first place. By leveraging direct crypto settlement, Rezolve AI aims to disrupt existing payment rails and capitalize on the growing demand for frictionless, cost-effective digital transactions.

The integration of Tether’s stablecoins, such as USDT, provides a substantial user base for Rezolve AI’s platform. With approximately 400 million users and 35 million new wallets created quarterly, the potential for widespread adoption is significant. This strategic shift in the crypto payments landscape could incentivize more merchants to accept digital currencies, as it reduces transaction costs and increases profitability.

Despite high interest among merchants in accepting cryptocurrencies, only a small percentage currently do so. Rezolve AI’s approach could bridge this gap by offering a more direct and cost-effective solution, potentially leading to a broader shift in merchant infrastructure towards native crypto payment processing.