- Rezolve Ai supported by Tether to make cryptocurrency mainstream for everyday purchases
- Rezolve Ai to address the $600 billion+ global burden of merchant payment processing fees annually
- Rezolve Ai plans to set a new global standard for retail payments through innovation, accessibility, and sustainability
LONDON, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Rezolve Ai (NASDAQ: RZLV), a global leader in AI-powered commerce solutions, is announcing a groundbreaking new product designed with support from Tether, the largest company in the digital asset industry, to revolutionize retail payments. Rezolve Ai will integrate WDK (Wallet Development Kit) by Tether, an open-source crypto wallet library, into its Brain Checkout platform with the aim to make cryptocurrency a mainstream payment method for everyday purchases, eliminating burdensome merchant fees, and creating a seamless cryptocurrency payment system for consumers and retailers alike. The integration will allow users to purchase groceries, meals, and transport with a single tap.
Making Cryptocurrency Mainstream for Everyday Purchases
By integrating WDK by Tether into Rezolve Ai’s Brain Checkout platform, consumers will be able to use cryptocurrency as easily as cash or credit for routine transactions - groceries, coffee, transportation, and more. The integration unlocks the full potential of cryptocurrencies – like USD₮, Bitcoin, and others – making them a practical and accessible payment option for everyone, everywhere.
Tether launched WDK by Tether, an open-source toolkit for developers to create Bitcoin and USD₮ wallets for the use of humans, AI, and robots. This integration will create a powerful new ecosystem for crypto payments.
Paolo Ardoino, CEO of Tether, explained:
"We are excited to see Rezolve Ai working with Tether to integrate WDK by Tether to its Brain Suite of products to empower consumers and retailers with seamless cryptocurrency payments for everyday transactions. By embedding crypto functionality into everyday shopping experiences, Rezolve is breaking down barriers to adoption and enabling consumers around the world to use cryptocurrency seamlessly in their daily lives. We’re excited to support Rezolve Ai as it builds a system that empowers consumers and retailers alike.”
With 400 million users already utilizing Tether’s USD₮, the most widely adopted stablecoin, and a growth rate of 35 million new wallets created each quarter, Rezolve’s decision to work with Tether positions us at the forefront of introducing cryptocurrency into the day-to-day activities of consumers.
Eliminating Merchant Fees to Empower Retailers
Merchants worldwide collectively spend over $600 billion annually on credit card and payment processing fees, cutting deeply into profitability. Rezolve is planning on introducing a merchant fee-free payment system that eliminates these costs entirely. Retailers gain a compelling reason to embrace cryptocurrency payments, enabling them to keep more revenue while providing consumers with a frictionless checkout experience.
Daniel M. Wagner, CEO of Rezolve Ai, said:
"We are working to eliminate merchant fees and unlock the potential of AI and cryptocurrency to reshape the global payment landscape. By combining the knowledge and know-how of Tether, the enormous consumer base of crypto and its advanced technology with Rezolve’s Brain Checkout, we are planning to provide retailers with a frictionless, merchant fee-free payment solution and empower consumers to use cryptocurrency for everyday purchases. We’re pioneering a disruptive solution set to transform the $30 trillion retail sector.”
Delivering Game-Changing Technology to the Retail Sector
This integration introduces transformative innovations designed to benefit merchants and consumers alike:
- Merchant Fee-Free Transactions: Unlike traditional payment methods, this solution is intended to eliminate payment processing fees, creating a disruptive incentive for retailers to adopt the system and encourage customer usage.
- Real-Time Crypto-to-Fiat Conversion: We plan to work with exchanges to conduct instant crypto-to-fiat conversions, with funds credited to merchants in fiat at regular intervals. This seamless process enhances the user experience for both consumers and retailers.
- Global Scalability: A blockchain-based, AI-driven platform that integrates easily into retailers’ existing apps and websites.
- Consumer-Friendly Wallets: WDK by Tether will be integrated directly into Rezolve’s apps and partner merchants' platforms, enabling users to load cryptocurrency and use it for purchases with live, synchronized balances.
Setting a New Standard for Retail Payments
Tether and Rezolve are each committed to making cryptocurrency as ubiquitous as cash or credit. By addressing inefficiencies in legacy payment systems and fostering financial inclusion, this shared vision sets a new standard for innovation, accessibility, and sustainability in retail payments. To that end, Rezolve aims to use Tether’s technology to reshape the global retail market - valued at $30 trillion - and empower businesses and consumers worldwide.
For more information on this announcement, visit www.rezolve.com.
About Rezolve Ai
Rezolve Ai (NASDAQ: RZLV) is a leader in AI-powered solutions for commerce and retail, focused on transforming customer engagement, streamlining transactions, and driving revenue growth. The company’s Brain Suite of products - Brain Commerce, Brain Checkout, and Brain Assistant - harness the power of AI to provide personalized, frictionless shopping experiences and improve business outcomes for retailers and brands worldwide. Partnering with industry giants like Tether, Microsoft, and Google, Rezolve is pioneering the future of commerce. For more information, visit www.rezolve.com.
About Tether and USD₮
Tether is a pioneer in the field of stablecoin technology, driven by an aim to revolutionize the global financial landscape. With a mission to provide accessible and efficient financial, communication, artificial intelligence, and energy infrastructure. Tether enables greater financial inclusion, and communication resilience, fosters economic growth, and empowers individuals and businesses alike.
As the creator of the largest, most transparent, and liquid stablecoin in the industry, Tether is dedicated to building sustainable and resilient infrastructure for the benefit of underserved communities. By leveraging cutting-edge blockchain and peer-to-peer technology, it is committed to bridging the gap between traditional financial systems and the potential of decentralized finance. For more information, visit www.tether.io.
Media Contact:
Rezolve Ai
Urmee Khan
Global Head of Communications
urmeekhan@rezolve.com
+44 7576 094 040
Investor Relations Contact:
CORE IR
+15162222560
investors@rezolve.com
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1996. The actual results of Rezolve Ai Limited (“Rezolve”) may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect”, “estimate”, “project”, “budget”, “forecast”, “anticipate”, “intend”, “plan”, “may”, “will”, “could”, “should”, “believes”, “predicts”, “potential”, “continue”, and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, Rezolve’s expectations with respect to sales from its co-selling arrangements and descriptions of future performance. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Forward-looking statements in this press release include Rezolve’s expectations. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of Rezolve’s amended registration statement on Form F-4 (File No. 333-272751) filed with the U.S. Securities and Exchange Commission (“SEC”) on July 5, 2024, and declared effective by the SEC on July 9, 2024 (the “Registration Statement”) and its subsequent filings made with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Most of these factors are outside Rezolve’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) competition, the ability of Rezolve to grow and manage growth profitably, and retain its management and key employees; (2) costs related to Rezolve’s completed business combination with Armada Acquisition Corp. I; (3) changes in applicable laws or regulations; and (4) weakness in the economy, market trends, uncertainty and other conditions in the markets in which Rezolve operates, and other factors beyond its control, such as inflation or rising interest rates. Rezolve cautions that the foregoing list of factors is not exclusive and not to place undue reliance upon any forward-looking statements, including projections, which speak only as of the date made. Neither Rezolve nor any other party (including Tether) undertakes or accepts any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.
A photo accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/357b5c87-9c89-4264-9a3f-8c68066202c4
