Sam Altman's World Network in talks with Visa to be your bank

By Matthew Griffin Connected Society 6th April 2025

WHY THIS MATTERS IN BRIEF

With decentralised finance on the rise and wallets a mainstay on your phone new companies are circling to become your bank.

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What if your digital wallet became your bank – like your actual bank and disintermediated your existing banking provider? That is the bet that Sam Altman, CEO of OpenAI, seems willing to take with Worldcoin. According to sources close to the matter, Tools for Humanity, the company behind this project, is negotiating with Visa to create a payment wallet in stablecoin. An alliance between crypto audacity and traditional financial infrastructure. The goal: to transform the World Wallet into a “mini-universal bank account.” But behind this promise lie challenges as complex as the irises scanned by Worldcoin.

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Far from being a simple digital safe, this wallet promises instant conversions between fiat currencies and cryptos, all manageable from a Visa card. An unprecedented fluidity, where the boundary between traditional economy and decentralized assets fades away.

According to an internal source the idea is to “load, send and spend without borders.” A revolution for the 1.7 billion unbanked people, but also for everyday users seeking simplicity.

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Rain, a partner backed by Coinbase and Circle, would play a key role. Already involved in projects like Optimism and Avalanche, this crypto card facilitator could provide the necessary technical infrastructure. A strategy that places Visa at the heart of an expanding ecosystem. For Altman, it is about capitalizing on its network and influence to dominate a rapidly changing market.

“Other wallet providers should be worried,” hints an insider.

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Meanwhile, World Network recently launched World Chat, a messaging service integrating crypto money transfers. A holistic approach: communicate and transfer funds in the same space. The wallet would therefore be just one piece of a much larger puzzle, aimed at redefining our relationship with money.

However, Worldcoin’s ambition is not unanimously supported. Since 2021, its iris digitization orb has raised ethical questions. Collecting biometric data in exchange for cryptos: a method deemed intrusive, even predatory, in some emerging countries. A paradox for a project claiming to be inclusive.

“Innovation should not justify surveillance,” remind its detractors.

Regulators are watching. Stablecoins, often perceived as a threat to monetary sovereignty, could also attract increased scrutiny.

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Will Visa, accustomed to navigating the murky waters of compliance, manage to impose this partnership smoothly? Nothing is certain. Especially since Mastercard is also exploring similar collaborations, fuelling a quiet race among payment giants.

The partnership between OpenAI and Visa could mark a decisive turning point: the transition of crypto from a niche tech market to a true public tool that also rivals the power of traditional banks. This evolution becomes even more likely with the involvement of major players like BlackRock, which contributes to demystifying Bitcoin.

Matthew Griffin / About Author

Described by NASA as a "Walking Encyclopaedia of the Future" and one of the world’s most in demand keynote speakers Matthew Griffin, Founder and Futurist in Chief of the 311 Institute, a global Futures and Deep Futures advisory firm, is a multi-award winning Futurist and strategic foresight expert, author, lecturer, mentor, podcast and YouTube host.

With a distinguished career running global business units at Atos, EMC, and IBM today Matthew helps leaders and titans of industry from all over the world explore the impact of the inter sections of technology, culture, and leadership, then helps them create high performance organisations that can continuously disrupt, outpace, and outthink their competition.

15 times author of the hit series the Codex of the Future series Matthew's ability to identify, track, and explain the impacts of hundreds of emerging technologies and trends on global business, culture, and society has earned him a powerful reputation and a roster of clients that include royal households, world leaders across the G7, G20, and G77, and many of the world's most recognised and exceptional organisations including ABB, Accenture, ABN Amro, Adidas, AON, ARM, BCG, Centrica, Citi Group, Coca Cola, Deloitte, Dentons, Disney, Dow, EY, Google, KPMG, Lego, Microsoft, Legal & General, LinkedIn, Nokia, Paramount, PepsiCo, PWC, Qualcomm, RWE, Samsung, T-Mobile, UBS, Visa, WIRED, WPP and hundreds of others.

Matthew is regularly featured in the global media including the AP, BBC, Bloomberg, CNBC, Discovery, Forbes, Khaleej Times, Telegraph, TIME, ViacomCBS, WIRED, and the WSJ, and his mission is to help organisations create a fair and sustainable future whose benefits are shared by everyone irrespective of their ability, background, or circumstances.