Alfred Pay App (Wallet): The Alfred pay app is a product that provides users with the ability to send and receive their remittances directly from their mobile devices. (iOS + Android)

• Receive USDC in 4-6 seconds: Give users the ability to store funds in Dollars regardless of where they are. Option to send USDC directly to a alfred username. ie: @diegoy
• Send directly to a local bank account: The recipient doesn't need to have a wallet to receive! Avoid high wire costs and send right to his bank account.
• ATM withdrawal feature: Part of the largest ATM network in the DR. Alfred users simply have to locate the nearest ATM and withdraw their pesos in exchange for USDC.
• Create a profile + Add and invite friends and family
• Compare sending costs in real-time vs. other remittance providers.

Alfred Stellar Anchor (United States, Haiti, Dominican Republic): Building compliant crypto to FIAT off-ramp in the Dominican Republic and Haiti to allow users to access cash in exchange for USDC.

Building Instant ACH On/Off ramp in the United States with PrimeTrust to on-ramp stellar USDC instantly as well as users in a compliant environment.

USAD Stablecoin on Stellar Network: Build United States Alfred Dollar, a wrapped USDC token on the stellar blockchain. Through our stable coin offer 7% high yield account through future partnership and integration with the wyre savings wallet.

Bill Payment Feature (Phone and Power): In allegiance with local phone providers allow individuals to pay their families’ bills directly through the

Alfred app.

Partnerships- PrimeTrust- Stably- Mercantil Financial Group (Dominican Republic Partner/Shareholder)- Dominican Republic Partner Bank- Dominican Republic Cash Network- Alorica (Dominican Phone carrier)- Edenorte (Dominican Electricity provider)- Haiti Partner Bank

Product:Stellar Partner Anchor- US Anchor (On/Off Ramp) In production -- Instant ACH roll out- Dominican Republic and Haiti (Off Ramp) In production

Alfred Pay Wallet (Beta)ATM Network (Part of DR’s largest ATM network)

Licenses:- FINCEN Registration- MSB License

Fundraising: - Raised 80K in Q1 2021 Investor: Mercantil Financial Group- Q2 2022 Pre-seed raise: $1M-$1.5M USD

Going to market in: US, Haiti, Dominican Republic

Users: 4,000 users under contract through Mercantil Financial Group (Micro Loan service in DR) who receive US Payments.

Use of Funds

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Problem & Solution

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Revenue Model

https://docs.google.com/spreadsheets/d/1ERiTrFHCrkXHyVGoVA7m1SPQqjAKWGKwo5a2_AcOLBs/edit?usp=sharing

Industry and Market Research

Competition

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Threats and Opportunities

Strengths:

• The team has strong experience on the grounds in the Dominican Republic and Haiti.
• Alfred's team members are based in these countries for day-to-day operations.
• Strong experience in Software development and launching successful products. (Director of technology is part of Forbes Technology Council)
• The team has high local relationships with Central bank officials and regulators.
• Alfred Co-founder is president of a regulated Financial institution in the Dominican Republic.

Weaknesses:

• The bureaucratic process in LATAM can be slower than desired at times.  
• Mobile banking adoption is just beginning in the Caribbean
• In the 12 months of BD, finding a US Anchor with optimal On-ramp settlement times has been difficult.

Opportunities:

• Be the first compliant crypto to fiat network in these countries.
• Establish ourselves as US on-ramp with Instant ACH

Threats:

1. Sanctions against stablecoins, USDC and digital assets
2. Local regulators and institutions threatened by users holding alternative currencies that are not the DOP (Dominican Peso)
3. Local monopolies (remmittors)  

Resources and Relationships

Our team has a direct association with Shokworks inc. and they are shareholders in Alfred. The shokworks team has over 400 developers which allows Alfred to scale their backend team instantly. This team has developed applications for many top brands and teams around the world including but not limited to: FC Barcelona, La Liga, Real Madrid, PSG, Kinesis Money, Start-Up Chile, Dupont Chemicals, The Las Vegas Raiders, The Tampa Bay Buccaneers, The Pittsburgh Steelers, Fox Sports, HBO, The United Nations and the Governments of the UK. Mexico and Panama.

As mentioned our team has many years of experience and long relationships with the banking sector in the Dominican Republic and Haiti. Our team has key lobbyists within the Dominican Republic government and Central bank in order to help grow this product and build key partnerships to support the growth of Alfred pay.

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Budget Requested: $215,000

- Development and Integration (Backend Team) $70,000
- Business Development $6,000
- Custodial Account (API Costs) $44,500
- Instant ACH (US On ramp Reserve) $35,000
- Salaries and Expenses (2 employees / 6 months pay) $64,500

• @alfredpayapp Twitter
• @alfredpayapp Instagram‍
• App on iOS - Testflight not public. Per email basis only (requests accepted)‍
• Alfred Pay Gitlab‍
• Test Net‍
• Figma