OpenPasskey

The next card scheme won't be built by Visa. It will be built on-chain.

💪

3 people. 10 months. No outside funding. We registered our own IIN, wrote our own EMV terminal software, and settled real payments on @base at a real shop. Card, phone, QR. AUD stablecoin in, AUD or stablecoin out.

our new website openpasskey.com

Same NFC chip. Same AID routing. Different settlement network.

8/8 So: do stablecoin rails win, or does the 10 years acquirer moat hold? Asking seriously. One of us is right.

1/ Jack’s diagnosis is exactly right. POS is the last payment surface that hasn’t been rethought at infrastructure level. Card rails are still domestic-first with international bolt-ons. His solution keeps Visa.

@WilsonCusack Amazing

Making progress! Been in the trenches with the team building but want to highlight an exciting milestone from a couple weeks ago: 10k transactions in a single block, i.e. 5k TPS. Results of the team's work on scaling and stability. Onward! basescan.org/block/43712142

@victorzh The numbers from the same Nilson issue: top 5 US acquirers handled $7.9 trillion in card volume last year. Fiserv alone did 50.8 billion transactions. Every one of those transactions paid interchange + scheme fees + acquirer markup.

Mastercard paid $1.8B for BVNK. BVNK moves stablecoins through 10 banks, RTP, FedNow, ACH. It's stablecoin plumbing bolted onto the same correspondent banking pipes. That's an acqui-hire of the old world's stablecoin adapter. We built the part @OpenPasskey they're still missing: terminal-native settlement. No bank in the loop. Merchant gets paid in 2 seconds. <$0.01 per tx on L2. Card networks are buying stablecoin companies because they know what's coming. They just can't build it themselves.

BVNK settles through 10 banks. We settle through one smart contract. Our ClearingVault on Base: 2-second finality, no correspondent bank, no FBO account, no conversion step. Protocol is open source. Any terminal can create invoices. Any merchant can deploy a vault.

7 terminals. 1 card. Same protocol.

@victorzh 7 terminals. 1 card. Same protocol.

Pick one.

That’s one of the key reasons why we built @OpenPasskey on @base.

Every contactless terminal in the world already speaks EMV. Visa and Mastercard are just apps running on top of it. We have our own AID and IIN. When you tap an OPK card, the transaction settles on-chain in seconds. No card network in the middle. Same tap. New rails.

@Base_Insights @base @CoinbaseDev 🫡

Base Weekly Roundup - Apr #2 News @base → batches 003 live - 12 teams selected for demo day may 19 in SF → new payments site live highlighting global settlement speed → hit 10k transactions in a single block and 5k TPS @CoinbaseDev → usage-based Upto pricing live for x402 - agents pay for LLM consumption → CDP CLI live with agent skills and MCP server → token swap hooks live in embedded wallets for ERC-20 pairs - @baseapp new trading and discovery experience live with updated asset pages - @CoinbaseMarkets $52B Q1 derivatives volume - up 300% QoQ - @Dune $4.4B stablecoin volume in february - highest volume-to-sender ratio across chains @buildonbase → base.dev rebranded to base dashboard - new analytics and leaderboards → free security reviews and audit discounts live for builders → account support live for monad, ZKsync, and unichain assets Launches - @AerodromeFi 3 rounds of audits starting this month followed by bug bounty then mainnet in july - @centrifuge deSPXA crossed $1M daily volume in 8 days - @glider__ boosted portfolio extended 30 days at 25% APR - @likwid_fi agent genesis live with proof of agent framework - @MetaLeX_Labs ACE app live - token holders buy equity via ACE SAFE - @omnesfinance structured compute RWAs live - tokenized bitcoin compute - @zerufinance zaps live for capital coordination with zapperboard and heatmap - @Beezie $60M+ volume and $30M+ revenue in Q1 - #1 consumer app - @ofc_the_club $OFC token live on OKX, revolut, and major exchanges - @Little_Dogx app referral live - 10% trading discount and 25% referral fees - @OpenPasskey card tap payments live - stablecoin settlements using EMV standard AI - @virtuals_io modular launchpad live - teams toggle robotics and capital formation - @shadowcleague humanoid robot combat league live with $SCL TGE on @virtuals_io - operators control arena robots - @Nevermined_ai delegated visa spending live via x402 for agents - @Wach_AI ClawLens coming soon for agent reputation and continuity - @0xDeployer $BNKR staking v1 deprecated - staking v2 coming for holders - @AskVenice x402 support live - agents pay for private grok 4.20 inference have a great weekend

@JayM9x @base Thank you.

@OpenPasskey @base this wins

Card tap. Phone tap. QR scan. One terminal. Zero middlemen. Stablecoin payments settling on-chain in seconds, using the same EMV standard every terminal already reads. Built on @base.