Kulipa is bridging the gap between traditional finance and Web3 by enabling crypto wallets to issue branded payment cards. Co-founder and CTO Michael Shynar, formerly of Meta and Google, is leading the development of a seamless, fully on-chain card solution that eliminates the need for traditional banking intermediaries.
From Big Tech to Blockchain
Shynar spent over a decade in big tech, working on products like WhatsApp at Meta. Despite the stability and resources of major tech firms, he found the pace of innovation slow. "I missed the excitement of creating something new. In big tech, even small projects require coordinating across massive teams with different interests and timelines," he says.
In 2022, at the height of the crypto downturn, Shiner saw blockchain’s long-term potential and took the leap into Web3, co-founding Kulipa.
What is Kulipa?
Kulipa is an on-chain card issuer, providing crypto wallets with white-label branded payment cards that operate entirely on blockchain. Unlike traditional crypto cards, which require converting assets into fiat and storing them in bank accounts, Kulipa’s cards interact directly with users’ on-chain assets.
"In the card industry, you have acquirers—companies like Stripe and Square that process payments—and issuers, which provide payment cards. We’re an issuer, but unlike others, we don’t rely on bank accounts," explains Shynar.
The result is a faster, more cost-efficient solution that allows users to spend crypto directly without intermediaries.
Targeting Crypto Wallets, Not Individual Users
While many crypto card issuers target retail users directly, Kulipa partners with crypto wallets to integrate card services into their platforms. "Wallets are already building trust and engagement with users. Our role is to enable them to offer branded cards as part of their ecosystem," says Shynar.
Kulipa’s approach is fully white-label, allowing wallets to customize their cards with branding, perks, and spending tiers. Their first major partner, Argent, launched Kulipa-powered cards in November 2023.
Security and Compliance: Working with Resonance Security
Operating at the intersection of traditional finance and crypto requires robust security measures. Kulipa has partnered with Resonance Security to conduct penetration testing and security audits. Having the right security partner allows Kulipa to ensure extra levels of safety and trust, two key features required whenever anybody is dealing with financial service or products.
"As a card issuer, we’re responsible for bridging TradFi and DeFi safely. Users trust us to process transactions accurately, and security is our top priority," Shynar explains.
The Growth of Stablecoins and Future Expansion
Kulipa is positioned at the center of a rapidly growing stablecoin-driven economy. Shynar highlights that stablecoins are now dominating remittances and cross-border payments, with their transaction volume increasing 20x in the last two years, even during a bear market.
"Emerging markets, where users rely on stablecoins for daily transactions, represent a major opportunity. People aren’t using crypto to speculate—they’re using it to move money, hedge against inflation, and get paid for remote work," he says.
With demand rising, Kulipa is expanding its services to new geographies and integrating with more wallets.
2025 and Beyond
Kulipa’s main priority for 2025 is expanding its partnerships with more crypto wallets beyond Argent. By integrating with additional platforms, the company aims to provide a seamless card solution for a broader range of users. As part of this expansion, Kulipa is also introducing premium metal cards that come with a package of both on-chain and off-chain benefits, enhancing the overall user experience.
In addition to scaling its operations globally, Kulipa is working on optimizing its infrastructure to support users in more countries, particularly in emerging markets where stablecoin adoption is accelerating. The company sees a growing demand for crypto-based financial services that offer real utility beyond speculation. By providing a frictionless way to spend crypto directly from wallets, Kulipa is making stablecoins more practical for everyday use.
At the core of Kulipa’s vision is the belief that stablecoins are modernizing finance by removing inefficiencies in traditional banking systems. With a fully on-chain card solution, the company is committed to eliminating unnecessary conversions, reducing fees, and ensuring a more cost-effective, efficient way for users to access and spend their digital assets.
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