Ripe provides off-ramps from crypto to eWallets where daily transactions occur. Achieving that utility for crypto means transfer to fiat and the everyday mode of payment—GCash, etc.—with a UX that can be done stress-free in line at the convenience store.
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Both co-founders have been long-time crypto adopters, one having founded and sold a company in the space previously. They each had the experience of sometimes feeling trapped in the web3 ecosystem, which had the effect of disincentivizing participation altogether. Separately, as expats living in the Philippines, each had challenges with local payments and banking, leading to an interest in regional fintech tools. We realized that with Ripe, we could address the problem of poor interoperability between DeFi and TradFi, achieve the promise of using crypto for everyday transactions, and provide consumers with greater payment flexibility and convenience overall.
During the sprint we designed an end-to-end off-ramp from a crypto wallet to GCash—the most common medium for daily transactions in the Philippines.
It was great! It was a challenge to get up to pace in the first 48 hours, but the speed of it all was a useful forcing function. Our mentor, very fortuitously, was a the founder of a Stellar wallet, and he was very interested in incorporating the kind of functionality we were proposing. A partnership forged!
During the sprint we designed an end-to-end off-ramp from a crypto wallet to GCash—the most common medium for daily transactions in the Philippines.
Do it. You'll get a lot done in a short period, and you're likely to meet somebody who can really help you out.
Sam Silver, COO of Ripe
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