Ryan Breslow’s Bold New App Aims to Disrupt Coinbase, Zelle, and PayPal

Ryan Breslow is making headlines once again with his bold return to the fintech scene. As the founder and CEO of the one-click checkout platform Bolt, Breslow is set to unveil a groundbreaking “superapp” that aims to redefine how users engage with both cryptocurrency and everyday payments. In an exclusive interview with TechCrunch, he elaborated on his vision for this innovative platform.

Ryan Breslow’s Comeback with a New Superapp

After stepping down from his role in January 2022, Breslow returned as CEO of Bolt in March 2023. His latest venture is described as a “one-click crypto and everyday payments” solution, designed to create a seamless user experience on a single platform.

The Vision Behind the Superapp

In his interview, Breslow shared insights into the app’s capabilities, which he believes will serve as a “centralized and personalized hub for financial services.” He acknowledges that Bolt has faced challenges in revenue generation but is optimistic that the new app will change the trajectory of the company.

• Users will be able to buy, sell, send, and receive major cryptocurrencies directly within the app.
• Supported cryptocurrencies include Bitcoin, Ethereum, USDC, Solana, and Polygon.
• The app features an on-chain balance powered by Zero Hash, allowing real-time balance visibility.

Breslow asserts that the app is designed for the everyday user, positioning it as “Coinbase for the 99%,” a nod to its accessibility for those who may not be technically savvy but wish to engage in the crypto market.

Competing in the Fintech Space

With the launch of this superapp, Breslow aims to compete with established players like Coinbase, Zelle, and PayPal. One of the standout features of the new app is its ability to facilitate peer payments with just a single click, a functionality that Zelle has recently phased out.

Partnerships and Features

To enhance user experience, Bolt has partnered with Midland States Bank to offer a debit card that includes:

• Up to 3% cash back on eligible purchases.
• Up to 7% store credits on purchases at Love.com.

While users will need to transfer funds from an external bank account to use the debit card, the app also features real-time order tracking, similar to offerings from platforms like Klarna.

Launch and Development Timeline

The app is currently available for iOS users, with plans to launch on the Google Play Store soon. Users who download the app will be placed on a waitlist, prioritizing iOS users first.

Breslow mentioned that the superapp was developed in just six months, thanks to the dedicated efforts of his team, which consists of approximately 140 employees. Despite past challenges with revenue, Bolt has expanded its user base, boasting a network of over 80 million shoppers in the U.S. alone.

Addressing Past Challenges

In light of previous legal disputes and investor lawsuits, Breslow is focused on rebuilding trust and steering Bolt toward profitability. The company is currently in discussions for a new funding round, aiming to solidify its future in the competitive fintech landscape.

Overall, Breslow is optimistic about the future, stating, “I couldn’t be more excited about the opportunity in front of us.” With his return and the launch of the new superapp, he aims to not only recover from past challenges but also to innovate in the fintech space.

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