Dear Linen community members and investors,

We are excited to announce another big milestone in the development of Linen. Users can now instantly acquire Ether, stablecoins, and other crypto assets using cards as a payment method!

So why is this a big milestone?

As our trusted investors already know, we have a simple mission—empowering crypto users worldwide to make no compromises between security, decentralization, and an easy-to-use wallet. 

In addition to being more secure, a self-custody wallet like Linen has no barriers to scaling globally. While leading fintech companies like Robinhood and Revolut operate primarily in a single regulatory jurisdiction, self-custody wallets do not have such restrictions. 

Nevertheless, there was still another barrier to scaling globally. Until now, our users could only use Linen by depositing crypto assets to the wallet or by linking a U.S. bank account. This is no longer the case. 

We’ve partnered with Simplex to allow users from almost any country to use cards to purchase Ether, stablecoins, and other crypto assets in the Linen wallet. Linen does not charge any fees, and this service is provided by our banking and payments partner Simplex. 

Simplex is the largest provider of secure fiat-to-crypto infrastructure, enabling users to transfer their funds using debit and credit cards nearly instantly. It is the provider underpinning many fiat onramps on leading exchanges such as Binance, Huobi, and BitPay.

What’s next:

We couldn’t be more excited about our partnership. We couldn’t be more proud of allowing crypto users worldwide to make no compromise between security, decentralization, and an easy-to-use wallet.  

That’s why we’re working hard to overcome one last obstacle! As some of you have already noticed, to deploy a smart contract wallet and start using Linen, users need to pay a wallet deployment fee to Ethereum miners. Unfortunately, fees on the Ethereum blockchain are quite expensive right now, and this is causing retail crypto users to hold off from using DeFi. 

That’s why we are now laser-focused on implementing Polygon, an Ethereum scalability solution. We expect to release it soon and, once implemented, we will be deploying our multisig smart contract wallet to the Polygon network. Transactions will be cheap, and there will be no need to pay fees to miners for wallet deployment. 

This is the next big milestone on our roadmap. Support for additional blockchains and scalability solutions will be implemented afterwards. 

We couldn’t be more excited about the journey and hope you are too!

Vitaly, Alex, and the rest of the team!