World App, the gateway to the Sam Altman-founded blockchain network World, has begun piloting virtual bank accounts in the US, giving its users a new way to connect their everyday finances directly to the crypto economy.
The feature issues unique virtual account numbers that allow users to receive direct payments, such as salary payments, directly into the World app without employers interacting with blockchain rails or worrying about gas fees.
When money hits their virtual account, it is automatically converted to USDC.
The pilot will start in the US in the first phase, with expansion to additional countries in future phases.
In addition, users can add funds from a bank, send USDC internationally, or use them instantly, all without fees. The company presents this as an important step towards simplifying on-ramps to crypto-native money.
“Virtual bank accounts embody the world’s vision of universally inclusive finance,” the team wrote in a press release shared exclusively with CoinDesk. “While traditional banking infrastructure struggles with cross-border complexity, time zones and fees, World App offers something revolutionary: fast, global, 24/7 financing that just works.”
The World blockchain project boasts significant interest in the crypto industry through the association with its founder Sam Altman, also the CEO of OpenAI. In response to the growing difficulty of distinguishing humans from highly advanced AI and bots online, the world’s central goal is to create a universally verifiable, privacy-preserving digital identity network known as World ID.
Read more: Sam Altman’s world encryption project launches in the US with eye scanners in 6 cities
