About the Team
Krish Tripathi: https://twitter.com/krishtripathi07
Chetan Badhe: https://twitter.com/chetanb_
Business and talent are fast becoming global affairs, yet the rails that allow the two to exchange value are still stuck along domestic borders. Individuals and businesses face challenges around speed, complexity and high costs both transactional and opportunity cost of holding various local currencies. Payment rails today are optimised for local infrastructure rather than global interoperability which limit the efficiency of cross border commerce.
Incento is a 'global venmo' facilitated by crypto-financial infrastructure under the hood. Designed for users with a zero learning curve, Incento provides a user interface that resembles a traditional fintech application. By leveraging the Stellar Anchor Network, Incento provides an end to end solution that allows individuals and businesses to connect local fiat to crypto seamlessly. Giving them the ability to make fast and inexpensive global payments as well as save in dollars and earn yield in multiple geographies.
2021
USA/INDIA
Startup
Incento is a global venmo facilitated by crypto-financial infrastructure under the hood. Incento offers free and instant remittances, dollar savings accounts with high yield (6-8%) and on/off ramp services to the crypto-economy. The emergence of global high speed internet connectivity and smartphone adoption has massively broadened career and financial opportunities worldwide.
However international payment rails under pin these opportunities. Individuals and businesses face many challenges with speed and cost. Rails optimised for local infrastructure, rather than global interoperability, limit the efficiency with which global commerce can transact, both with other businesses and with individuals.
Crypto dollars have been talked about as an answer to this problem for most of the last decade. The idea was interesting but always premised on global crypto adoption. The biggest challenge holding back global crypto adoption has been infrastructure and user experience. Incento resolves these challenges by providing a simple user interface that resembles a traditional fin-tech experience and abstracts the blockchain complexity in the backend by interconnecting API service providers from businesses built on top of the Stellar network. These services include custody via Circle, yield and fx swaps via SendWyre , on/off ramp infrastructure via the Stellar anchor network and compliance coverage via Finclusive.
Top 3 goals: 1. Launch our private beta program (web app) on 25th December 2. Get our waitlist upto 50,000 signups by the 1st of February. Simultaneously onboard waitlist users in our private beta program. 3. Launch our Public beta along with android and iPhone applications on 1st of March
$45,000
Millions of online workers around the world, many of them citizens of emerging markets make a living on the internet. These remittance payments are an economic lifeline for individuals in these emerging markets. Though billions still lack access to banking services or remain at the mercy of exploitative financial middlemen and the opportunity cost of holding their local inflationary currency. By the middle of this decade the vast majority of people on earth are expected to have access to a smartphone – the only technology needed to transmit, store, and save the value of their labor via decentralized crypto-based financial services, mainly stablecoins.
However using crypto-based financial services has a significant challenge - the user experience.
Incento is designed to resemble a traditional fin-tech application and hides the blockchain complexity in the backend. This is possible via using a wide range of API service providers that are built on top of the Stellar Network. These services include custody via Circle, yield and fx swaps via SendWyre , on/off ramp infrastructure via the Stellar anchor network and compliance coverage via Finclusive.
p2p remittances, freelancers and businesses engaged in global commerce and living in emerging markets. Mainly focused on :
Incento uses 'zero fee' remittance to attract users. Revenue is generated via taking a 1% fee of interest earned on high yield accounts.
Testing sandbox: https://test.incento.io
Millions of online workers around the world, many of them citizens of emerging markets make a living on the internet. These remittance payments are an economic lifeline for individuals in these emerging markets. Though billions still lack access to banking services or remain at the mercy of exploitative financial middlemen and the opportunity cost of holding their local inflationary currency. By the middle of this decade the vast majority of people on earth are expected to have access to a smartphone – the only technology needed to transmit, store, and save the value of their labor via decentralized crypto-based financial services, mainly stablecoins.
However using crypto-based financial services has a significant challenge - the user experience.
Incento is designed to resemble a traditional fin-tech application and hides the blockchain complexity in the backend. This is possible via using a wide range of API service providers that are built on top of the Stellar Network. These services include custody via Circle, yield and fx swaps via SendWyre , on/off ramp infrastructure via the Stellar anchor network and compliance coverage via Finclusive.
p2p remittances, freelancers and businesses engaged in global commerce and living in emerging markets. Mainly focused on :
Incento uses 'zero fee' remittance to attract users. Revenue is generated via taking a 1% fee of interest earned on high yield accounts.
Testing sandbox: https://test.incento.io
Krish Tripathi: https://twitter.com/krishtripathi07
Chetan Badhe: https://twitter.com/chetanb_