ZoidPay, a leading Web 3.0 architecture provider, has received $75 million from GEM Digital Limited (GEM) to develop the go-to open architecture for building the next generation of Web3 financial services.
As per the announcement, this funding will also help ZoidPay develop a to-go open architecture for scaling the first on-demand metaverse, launching a Web3 super App, and facilitating the first-ever bank acquisition by a blockchain firm.
Launched in 2018, ZoidPay has established itself as a crypto liquidity solutions provider. The company enables its users to get instant issuance for purchases from merchants at low fees. With the new funding in place, the team behind the project will now be able to release a full suite of Application Programming Interfaces (APIs) and Software Development Kits (SDKs) for B2B clients. These will reportedly be aimed at building the next gen of Web3 financial services apps and dApps.
Commenting on the funding, Eduard Oneci, CEO Co-founder at ZoidPay, explained:
“The investment from GEM is a massive validation of what we are striving to achieve at ZoidPay. To have the financial commitment of one of the leading global alternative investment groups is the ideal backing we need to manifest a roadmap that will etch ZoidPay as the backbone of the Web 3.0 open architecture.”
Just recently, ZoidPay announced the launch of ZETA, a fully decentralized world that offers users an immersive experience of virtual, extended, and augmented reality. ZETA is notably the first on-demand metaverse designed to offer B2B clients the open architecture allowing them to create their customized digital world. As a digital space, ZETA enables retail users to explore different avenues, including access to Web3 financial services.
ZoidPay also seeks to help all traditional financial services to decentralized finance by harnessing the potential within Web 3.0. The ZoidPay team is in the advanced stages of acquiring a digital bank to facilitate this mission. Once completed, users will have access to high-yield index accounts, shifting from legacy to digital. In addition, this development will allow avail instant Web 3.0 loans to retail users depending on the digital assets or NFTs they hold. This will eventually pave the way for ZoidPay’s upcoming fintech app, ZoidPay’s Web 3.0 Super App.
According to Eduard, ZoidPay hopes to become the biggest Web 3.0 architecture provider by the end of the first quarter of 2023. To achieve this, the project has already forged partnerships, assembled a competent team, and developed the tech needed.
Source: Crypto News