How Wavespace Avoids Money-Transmitter Licensing

Introducing The Wave Card with @felixbillert

$ BTC 111,430

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Today's guest on the show is founder Felix Billert, who joins mt to talk about the launch of The Wave Card in Europe!

Discover the ultimate Bitcoin debit card that spends BTC directly from your self-custody wallet and also connects with your LN wallet via NWC and spend Bitcoin globally across 150M+ merchants!

Is this the unlock that you have been waiting for?

Are you shorting Bitcoin without realising it?

Find out more about the Wave Card here:

https://www.wave.space/

Key Topics:

• WAVE Card Functionality
• Challenges and Blockers
• Living on a Bitcoin Standard
• Partnerships and Regulation
• Business Growth and Model
• Customer Use Cases
• Future Plans and Collaboration

Thank you, @felixbillert, for coming on the show and building on Bitcoin for Bitcoiners!

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AI SUMMARY:

Summary:

Felix from WAVE.space discusses their innovative Visa debit card, WAVE card, which allows users to spend Bitcoin anywhere Visa is accepted. Launched in February as a virtual card, they're working towards a physical card, facing delays due to partnerships with various entities, including banks and Visa/MasterCard. These partnerships are essential as WAVE.space outsources regulatory licenses to focus on product development. A key hurdle is getting card designs approved by Visa and MasterCard, who are cautious about brand association. WAVE.space is transitioning from Visa to MasterCard for better control over card settings within their platform.

The card currently supports euros, with plans to expand to other currencies by partnering with entities in different regions, such as Estonia, to handle regulatory aspects. Users can create an account on the WAVE.space web app, complete KYC verification, and deposit Bitcoin to start using the card. Users can also connect self-custodial wallets via NostriWallet Connect to spend Bitcoin directly.

WAVE.space aims to enable users to live on a Bitcoin standard, offering an instant swap feature for buying and selling Bitcoin between wallets and bank accounts. This service is facilitated through a partnership with a virtual assets service provider, which is also applying for MiCA licensing. Felix highlights that the company is using other Bitcoin focused companies to leverage themselves off of. The company charges a 1% fee on conversions, whether buying, selling, or spending Bitcoin.

Customer feedback reveals unexpected use cases, including Bitcoin beginners using the card to understand Bitcoin better and buying Bitcoin with euros to spend via the card. Some users leverage the platform for reliable and private Bitcoin sales, as WAVE.space issues IBANs in the user's name, ensuring that transfers to their bank accounts appear as internal transfers, avoiding scrutiny from banks. Felix shares a story of someone in the UK struggling to buy a house after selling Bitcoin and recommends people use WAVE.space in Europe to avoid those issues. Felix says the company has a thousand users and is growing 70-80% each month. The company was bootstrapped by three co-founders and then had investment from angels, one of which was one of the first angel investors in Relay. Felix is looking for investors who understand the goals of the company. There are plans for loyalty and rewards programs, potentially integrating with platforms like Satsback, and expanding partnerships with airlines like EasyJet and accommodation providers like Airbnb. Felix shares that the company has a blog post talking about people shorting Bitcoin without realizing it.

The WAVE card lowers people's time preference because it causes them to ask the question, "Is this worth 30,000 sats?" Felix recommends people check out the Telegram group, website, and Twitter account for the latest information. He plans to be at Bitcoin Forum in Bavaria and Lugano's Plan B conference. Felix jokes that if he had one orange pill left, he would give it to Christine Lagarde.