SCF #17
Award Completed
alfred

Powering Latin America's Digital and Cash Economy

Awarded
Awarded
Budget request:
$
120,000
*
WebsiteCode

Project Stage

Development

Category

Payments
Marketplaces

Based in

US, Delaware

Team size

12

Active since

February, 2022
Products & Services

Core Product is a Checkout widget that connects you to the two following services:

Bank Ramps:

This product enables near instant fiat to crypto on/off ramping through local bank accounts across key geographies in Latin America.

What Problem it Solves, How it solves, and audience: This product provides a solution to the fragmentation of access from crypto to bank accounts across important geographies in Latin America. We solve this by providing a simple widget powered by SEP 24 which gives users direct connection from on chain stellar USDC to their local bank accounts. The audience this is catered to is folks inside of the Latin America banking system who want to interact with USDC and DeFi ecosystems from their local accounts.

How it uses Stellar: This widget is powered by SEP 24.

Cash Ramps: This product enables cash to crypto on/off ramping catered towards the underserved/underbanked in the Latin American Region. With a total of 100,000 physical locations via retail stores and ATM's, alfred is becoming a true alternative to MoneyGram Access.

What Problem it Solves, How it solves, and audience: Over 70% of Latin America is unbanked or underbanked meaning that main use cases that are very attractive for the region such as crypto powered remittances and borderless USD accounts are unaccessible for the folks who need it most. Our cash ramps product caters to this demographic enabling them to access crypto and Stellar USDC products without the need of being banked.

How it uses Stellar: This widget is powered by SEP 24.

With the support of the SCF we will be able to develop and launch these products in Mexico, Guatemala, Dominican Republic.

No items found.
Previous Project(s)
SCF #9
Award recipient
Alfred Pay
An easier way to send and receive money cross border
Learn more
Progress so far

In Q4 of 2022 alfred lost it's US on-ramp "Wyre." Through this process along with rigid US regulations on crypto we decided to remove our US operations completely and focus on B2B infrastructure for businesses (Wallets, Exchanges, products) across Latin America.

We view use cases on stellar such as crypto powered remittances and combating inflation with USDC as prime use cases for crypto adoption across the Latin American region. With our product and infrastructure we aim towards accelerating the adoption of these use cases and enabling access to all whether you are banked or unbanked.

Alfred has two core products it is developing today named Bank ramps and Cash ramps.

Bank Ramps: This product enables near instant fiat to crypto on/off ramping through local bank accounts across key geographies in Latin America.

Cash Ramps: This product enables cash to crypto on/off ramping catered towards the underserved/underbanked in the Latin American Region. With a total of 100,000 physical locations via retail stores and ATM's, alfred is becoming a true alternative to MoneyGram Access.

Goals
To get there, we request a budget of  
$
120,000
*
  to:
Additional information
Pitch deck
No items found.
Deliverables
First Deliverable

1. Anchor running on https://anchor-tests.stellar.org/ both test environment and mainnet: Current 6 errors are because this anchor is running on Polaris vs the new update on Java. Spoke with Jake Urban and team and they confirmed this is okay for now.

2. SEP 24 UX/UI Ready

3. SEP Endpoints are Ready

Alfred Technology Labs Corp.

Bridging Web 2 and Web 3 infrastructure together to help accelerate adoption of crypto across Latin America.

Team

Diego Yanez:

  • Venezuelan born Building Web 3 in LATAM since 2018
  • UC Berkeley Blockchain Xcelerator Alum
  • Has lobbied multiple government contracts in Argentina and Brazil
  • Established first USDC on/off ramp on Stellar in the Dominican Republic


Matias Plano:

  • Developed Argentinian Stable coin ARSX on Stellar
  • 2x Founder who Build a smart contracts platform for Argentinian Ministry of Education to Validate certificates (Acquired)
  • Established Stellar Anchor in Argentina (Chronos pay)


Alba Medina:

  • President of Iberoamerican AI & Blockchain Association
  • 2021 & 2023 Forbes most powerful women of Mexico
  • Part of Blockchain regulation committee across Mexico and Central America
  • Founder of Dalia Empower (group of 2M female entrepreneurs)


Ernesto Zedillo Jr.

  • In 2002 Co founded Credito Maestro, the second largest Micro Loan institution in Mexico today.
  • 25 + Years in strategic lobbying in Business Development and government Contracting across all of LATAM.