World App, the gateway to the blockchain network world founded by Sam Altman, has begun piloting a virtual bank account in the United States, giving users a new way to connect their everyday money directly to the crypto economy.
This feature issues a unique virtual account number and allows users to receive direct deposits, such as payroll payments, directly into the World App without the need for employers to interact with blockchain rails or worry about gas fees.
Once the funds reach your virtual account, they will be automatically converted to USDC.
The pilot will begin in the United States in the first phase and expand to additional countries in future phases.
Additionally, users can make bank deposits, international USDC transfers, and instant usage, all without fees. The company is touting this as an important step to simplify entry into crypto-native money.
“Virtual bank accounts embody the world’s vision of universally inclusive finance,” the team said in a press release shared exclusively with CoinDesk. “While traditional banking infrastructure struggles with cross-border complexities, time zones, and fees, the World App offers something revolutionary: agile, global, 24/7 finance.”
The World blockchain project can garner significant interest in the cryptocurrency industry through its connection to founder Sam Altman, who is also the CEO of OpenAI. In response to the increasing difficulty of distinguishing between humans and advanced AI and bots online, World’s core objective is to build a universally verifiable, privacy-preserving digital identity network known as World ID.
Read more: Sam Altman’s Global Crypto Project launches in US, installs eye-scanning orbs in 6 cities
