Wallet provider Argent to launch cryptocurrencies in partnership with Kulipa and Mastercard

According to the press release, the new product will utilize a solution from the Starknet team based on zero-disclosure proof-of-work (ZK) technology. The card will allow payments in stablecoins: Circle-issued USDC or PUYSD and USDP from issuer Paxos. The coins will be automatically converted to fiat when transactions are made, eliminating the need for merchants to integrate additional crypto-payment tools.

Focused on decentralized financial protocols (DeFi), Argent wallet has more than two million users. It is mainly focused on utilization on the Ethereum blockchain-based Starknet Layer 2 (L2) network. The company was also one of the first to introduce innovative account abstraction technology, which allows wallets to be endowed with features inherent in smart contracts.

According to Argent CEO Itamar Lesuisse, the new debit card will utilize ZK technology to enable low-cost, fast and secure non-custodial transactions.

Founded in Paris in 2023, Kulipa, a startup developing a non-custodial wallet platform for issuing cryptocurrencies, raised $3 million in a seed round led by Fabric Ventures and White Star Capital earlier this month. White Star noted that there has been exponential growth in the adoption of stablecoins in recent years, but the most popular option for their use in payments has yet to reach the masses.

Kulipa can transact in stable coins on several blockchains, including Ethereum and some L2-based blockchains, as well as Solana.

Kulipa was also one of five blockchain startups included in Mastercard's latest Start Path incubation program.

Earlier, plans to launch a debit card in collaboration with Mastercard were announced by blockchain team Tezos.