Stellar Community Fund

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.

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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

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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.

dev-stellar.alfredpay.io (testnet)
stg-stellar.alfredpay.io (main-net)

2. SEP 24 UX/UI Ready

3. SEP Endpoints are Ready

https://docs.google.com/document/d/1R3nMu4jlke5aVTfVPUgo_3rV6d-P0DlYC7JRWMCp2Og/edit?usp=sharing

Links:

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.

The USD valuation of the budget request in XLM will be calculated using the CF Stellar Lumens-Dollar Settlement Price on December 5, 2022 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR). Learn more in the SCF Handbook.

*The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on July 5th as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)

**The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on December 16, 2021 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)

*The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on September 27, 2021 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)

* The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on the date of transfer as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)

*This budget request has not been fully awarded to the project. The USD valuation of the budget request in XLM will be calculated using the CF Stellar Lumens-Dollar Settlement Price on day of payment as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR). Learn more in the SCF Handbook.

*This budget request has been awarded to the project in XLM. The USD valuation of the budget request in XLM will be calculated using the CF Stellar Lumens-Dollar Settlement Price on day of payment as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR). Learn more in the SCF Handbook.