Wedge Partners with Sila Adding Speed and Security to Smart Debit Card
AUSTIN, Texas, March 1, 2022 -- Today Wedge, the first smart debit card that lets users pay for everyday purchases with any asset, announced a strategic partnership with Sila Inc., a premier fintech software platform that provides payment infrastructure as a service.
The partnership adds an industry-leading layer of speed and safety for Wedge users, who benefit from market movements from more than 2,000 different stocks, ETFs, and cryptocurrencies. The partnership with Sila further enhances Wedge's vision to provide users with better, faster and more secure payment solutions. Previously announced partnerships include digital advertising platform Cardlytics.
“The integration with Sila puts us in a position to scale our offering and change the way people think about daily spending,” said Billy Roberts, Wedge CEO. “Instead of moving money around on antiquated and expensive ACH rails with limited capacities to ledger funds between digital wallets and hold funds for our users, Sila allows us to move funds more safely, more quickly, and at a much better scale than competitors. And our users benefit with more robust and reliable digital wallets where they can securely hold cash.”
“Fintech is changing the way people spend, save and move money,” said Shamir Karkal, co-founder and CEO, Sila Inc. “Sila is supporting companies that work on what’s next in the payments space. Partnering with Wedge, we created a vision for how smart spending solutions can really look at scale. We’re excited to bring our companies together to achieve this innovation.”
Wedge changes how consumers use their assets like stocks, ETF, and cryptocurrencies by enabling them to be used for everyday purchases. Wedge’s smart debit card puts users' money to work in the markets without sacrificing liquidity, allowing them to capitalize on market movements any time they make a purchase. The addition of Sila accelerates their model of smart spending using any asset, or a combination of assets, from within their Wedge wallet, with fast ACH processes and cash account creation for users.
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About Wedge
Wedge (Wedge Financial, Inc.) provides the first smart debit card that lets users pay for everyday purchases by using any asset in their Wedge wallet, including cryptocurrencies, stocks, and ETFs. Wedge is reinventing everyday spending by giving users the choice of selecting the optimal asset to use at checkout to save on purchases by taking advantage of real-time market movements. Wedge's broker-dealer services are offered by Alpaca Securities LLC and cryptocurrency exchange services are offered by Gemini Trust Company, LLC.
Wedge is available through the Apple and Google Play app stores and is made available through Wedge Financial, Inc., a registered investment advisor based in Austin, Texas. For more information go to www.wedge.us.
About Sila
Sila is a fintech software platform that provides payment infrastructure as a service, a business-critical element for all companies that need to integrate with the US banking system and blockchain quickly, securely, and in compliance with applicable US regulation. Sila offers Banking, Digital Wallet & ACH Payments APIs for Software Teams. The firm was recognized as a ‘2021 best place to work in financial technology’. Sila is headquartered in Portland, Oregon. For more information go to www.silamoney.com