CashAbroad is a smart network that funds public goods using small fees from family remittances and B2B payments. These fees are used to fund community projects like schools, hospitals, and community centers in the remittance senders' towns. We believe this approach will make a significant impact on these communities.

To achieve this, we are taking the following steps:

• We are using Soroban to enable a smart contract that will distribute a percentage fee to the public good, recipient, and CashAbroad wallets. This smart contract will distribute the money via on-chain transactions to Stellar wallets.
• We are integrating Circle to enable B2B ramp on and ramp off methods such as bank card transactions and wires. This will provide higher amounts for businesses with cross-border payments and enable KYC for businesses. We aim to enable these features for the countries of Canada, the US, and Mexico to start with.
• We are integrating Stellar Anchors to enable instant family remittance payments with a convenient fee. With this integration, we aim to leverage payments for Argentina and Peru to start.
• We are continuing the design and development of the B2B functionalities of automatic payments, dispersion (mass payments), roles and approvals, invoice/request, accounting imports, accounts and sub-accounts, approval triggers, WhatsApp shares, and status.

Achieved Goals 🎉

1. 🌎 Incorporated CashAbroad, Inc. in Delaware, USA, and obtained the required address, mailbox, and virtual US phone numbers.
2. 🧑‍💻 Integrated with Wyre for the US-MX corridor, Whatsapp, and Google.
3. 🎙️ Developed a waiting list of 20 users after conducting 60-min user interviews from Australia, the United States, Canada, and Mexico.
4. 💼 In talks with two startups: One that needs an improved payment experience throughout its network of South American gyms, and another that specializes in managing Trust Funds for individuals receiving inheritances or income from other countries.
5. 🤝 Achieved a partnership with UTSV university, which is part of a network of 114 technical universities, enabling us to continue improving our platform.
6. 👟 Accelerated our development x4 by adding new team members, increasing monthly commits from 100 to 400, and resolving issues from 7 to 27.
7. 🎨 Reskilled team members to accelerate the UX design pipeline and added AI.

Strategic Updates! 🦜

🧑‍🚀 We successfully integrated with Wyre for the US-MX corridor and due to current Wyre's financial solvency issues haven't been able to receive the production keys to pass to production. As the opportunity cost of waiting for Wyre is too high, we strategically decided to refocus our development efforts on integrating Stellar Anchors and Circle. This ambitious development requires an additional four months to ensure a successful pass to production and launch

🚀 We're working hard to differentiate CashAbroad by leveraging family remittances and B2B payments to fund community projects in the towns of origin of the remittance senders. To achieve this, we're focusing on Soroban to enable a smart contract that will automatically distribute a percentage fee to public goods of the recipient community after each transaction.

🚗 We're also exploring nearshoring opportunities for cross-border payments, such as Tesla in Monterrey, Mexico, where both founders studied.

💸 | Revenue Model & Funding

We calculate an average income per cross-border transaction of 3%, including fees per transaction and an exchange rate commission.

Average cross-border remittance fees are 6.2%, depending on the country, with fees commission ranging from 0% to 15% plus exchange rate commissions. It is common to find competitors with a 0% transfer fee but with an exchange rate significantly decreasing the money sent. So we consider 3% a competitive fee.

We are currently applying and pitching to investors to raise funding. And as part of our participation in the Blockchain Academy Chile Incubator.

🔎 | Market & Industry Research

The global B2B payments market size was valued at $942.6 billion in 2021 and will reach $1.91 trillion in 2028 at a CAGR of 10.6%. In Latam, we estimate a volume of cross-border payments of $168 Billion based on the remittance volume in the region.

In Latam, even if cash still is the primary payment method, larger central banks are launching initiatives to develop an open banking ecosystem that support the shift toward digital payments. The global pandemic boosted this change in countries such as Brazil and Mexico.

Additionally, the shift to digital payment methods was boosted by the favorable demographics of Latam since it has one of the youngest populations in the world.

In Mexico, the management of payments plays a substantial opportunity for improvement since, according to a study, 87% of the businesses reported late payments by B2B customers, which is, in part, caused by the manual reconciliation of invoices and payments that 40% of companies do, according to INEGI.

Percentage of B2B with late payments

The lack of fast and cost-efficient cross-board payment methods for businesses in Latam, combined with the favorable demographics and smartphone penetration, presents an ideal environment for Cashabroad to bring his solution to Latam businesses.

⚔️ | Competition

• Legacy Solutions
• Banks
• MTOs: Western Union, Money Gram, and Ria (mostly brick-and-mortar)

• Digital Solutions (not crypto focused)
• Stripe, Paypal, Wise, Thunes, Rapyd, Flexio

• Crypto solutions
• Request (DAO based)
• Binance
• Valora
• Other Wallets

✅ We focus mainly on the Latam region.

✅ We offer a friendly digital solution powered by crypto benefits to a not crypto-savvy audience.

✅ Our focus is B2B needs

👥 | Resources & Relationships

Colledge (formerly Blockchain Academy Chile)

A growing education, incubator, and community platform. Colledge experts on blockchain have nurtured us during the 4-month program of its incubator with expertise in different fields like UX, Mkt, Finance, engineering, and others. They also offer an extent network of investors.

Lourdes Hidalgo | Advisor & Business Asociations

Currently President of the National Chamber of Commerce in Coatzacoalcos (CANACO), a member of AMEXME (Business Woman Association), and with connections with other business entities like CANACINTRA.

Ivan Álvarez Frías | Tech Advisor & Talent Pool

Ivan has the biggest iOs developer community in Mexico (he has nurtured it over the years) and supports us with the best talent and engineering expertise.

📮 | Marketing & Sales

1. Early adopter, we are currently building a Waiting List through contacts
2. After Customer Acquisition, we will focus mainly on the following:
3. Business Associations: We plan to target and partner with the National Chamber of Commerce (CANACO), the EXATEC Community of business, the International Business Network (BNI), and the Business Woman Association (AMEXME). And groups of Facebook by business type.
4. A mix of offline/online events with a viral discount fee that prompts people to invite others.
5. Video content for businesses with interviews and tips on expanding and growing their cross-border audiences.
6. Affiliate compensation plans

Our initial goal is to incorporate the Circle wallets with a stellar blockchain address in the onboarding flow and enable the on-ramp process with bank card for users with Circle in the development environment. Our initial approach was to enable the Wyre as on-ramp, but since for the moment Circle is stoping the Wires functionality as a result of exiting their Silvergate and Signature banking partnerships this month, we integrated the Bank Account as our first on-ramp method.

We will follow these steps to complete the functionality:

1-Design the experience of CashAbroad and Circle, this includes:

• Establish the architecture of CashAbroad, incorporating Circle in the onboarding process.
• Design the diagrams of the CashAbroad flow, including Circle in the interaction.

2- Develop in the backend the Circle endpoints of:

• Creation of custodial wallets and the Stellar address with Circle in the CashAbroad onboarding flow.
• On-ramp method of bank card, sending money in FIAT and receiving it in a wallet as USDC.

3- Integrate the backend endpoints to the frontend experience and enable the complete on-ramp flow in the development environment of Circle.

To show the progress of the deliverable, we can take the following steps:

1- Share a document with:

• The architecture diagrams of Cashabroad, which includes the Circle endpoints of wallet creation, stellar address creation and on-ramp with bank card.
• Screenshots of the source code that demonstrates the implemented experience of the wallet and on-ramp in the CashAbroad platform, which includes sending FIAT and receiving USDC in a wallet.

Document link: https://www.canva.com/design/DAFfR7_F-Yc/tYUJIKIpl38oh4xn73vb5g/edit?utm_content=DAFfR7_F-Yc&utm_campaign=designshare&utm_medium=link2&utm_source=sharebutton

2- Share a video explanation of:

• Design architecture for CashAbroad + Circle
• Integrate custodial wallets in CashAbroad onboarding flow accounts and sub-accounts (User View and Backend)
• Integrate the OnRamp via bank card (FIAT to Crypto) (User View and Backend)

Video link: https://www.youtube.com/watch?v=Xc3BZJnUZu8

3- Link to a demo with the implementation.
Demo: https://cashabroad.netlify.app/