SCF #10

Cross border payments infrastructure for Africa

Budget request:

Project Stage



Cross-Border Payments
Micro & B2B Payments

Based in


Team size

Active since

November 2021
Products & Services

LINK is a different kind of Nigerian Anchor, as an infrastructure first company we are focused on a unique streamlined range of services & features that have the backbone of Stellar network.

Launch and Grow

LINK for Global businesses: We allow businesses accept payments and send payouts globally in one unified platform. Move digital money leveraging traditional payment rails and do business in a more global, scalable and efficient way through hybrid infrastructure. LINK seamlessly connects these worlds.

  • Get NGNC straight from the source. Send and receive naira digital currency on-chain. All through a single portal for payments.
  • On & Off Ramp (SEP 24 implementation)
  • Treasury & Custodial Dashboard
  • Move NGNC from Stellar across multiple chains
  • Non Nigerian Businesses and Nigerian business alike small or big, defi based or traditional based now have access not only to possibilities of defi but Local infrastructures to get paid and to pay as well.
  • We want to bridge Africa’s Internet of value. LINK is that bridge between the world, defi and traditional rails built for global businesses.
  • Platform: Web App -

LINK P2P platform: Allows users to Send, spend and bank at the real exchange rate with transparent fees across borders

  • Send and receive money from Nigeria to over 50+ countries across the globe in record time at the exchange rate seen on google with low transparent fees allowing us to be the cheapest solution across the continent (30-50% cheaper than all existing solutions)
  • Create multi currency accounts that can be loaded with local currencies at the real exchange rate
  • Create a USD Virtual debit card that can be loaded with local currencies at the real exchange rate
  • Compare our rates with other providers real-time
  • Receive money directly through your link tag, bank or in-person.
  • Powered by the speed, low-cost and anchor interoperability provided on the stellar network with our own stablecoin NGNC and other stablecoin providers on the stellar network. As well as our built-in P2P infrastructure that works on the backend
  • The LINK P2P platform is  the only platform that would be powering payments this way and it's because our vision aligns with what we found on the Stellar network.
  • Platform: Web App - (Coming to IOS and Android)

NGNC: NGNC for Naira Coin is a multichain stablecoin pegged and redeemable 1:1 in value to the Nigerian Naira, built to power Cross border payments and the future of internet of value for the next billion Africans.

  • Currently NGNC on- and off- ramps are only implemented on the Stellar Network compliantly with local regulations through Stellars’ SEP24
  • NGNC represents the only Naira stablecoin that carries the true value of the Nigerian Naira on the Decentralized Exchange as well as the only multi-chain Naira asset,
  • NGNC currently exists on a stealth protocol on solana and polygon,coming to stellar that would allow global forex interoperability and liquidity powered by LINK’s infrastructure as well. Coming to other exchanges soon
  • The aim is to build that global tradability of the Naira and equitable access to defi for Africans
  • Token link on stellar:
  • Token website:


WAVY (Vibrant for Nigeria): Wavy is a wallet app developed on Stellar by the team at LINK as one of the line of cross border focused payments platforms. By employing Stellar, Wavy makes it possible for Nigerians (especially low income and middle class working individuals) experiencing inflation to purchase and hold USDC quickly, cheaply, and easily.

  • For Businesses

Wavy also works like MoonPay for Africa giving local businesses access to digital assets

  • A USDC wallet that can be loaded with NGNC at the real exchange rate leveraging Stellars’ DEX
  • A cheaper access to crypto and a yield feature using yUSDC and yXLM on Stellar
  • Link to platform: (Product design for this is completed, development and launch would happen in Q1 of 2023)

API’s: LINK would provide a suite of API’s for businesses and developers to incorporate our products and services across the ecosystem.

  • Existing FinTechs and competitors can leverage the fx protocol API to provide better rates for customers
  • Launch could happen by Q3 this year in batches
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Previous Project(s)
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Progress so far

Partnerships & Users:

  • On the B2B Product side we’ve been able to have a total of 81 global businesses on the waitlist, with 33 ready for integration and 4 being currently integrated with an estimated MRR of $825k.
  • Some reputable partnerships we’ve had asides this from the stellar ecosystem includes Pendulum Chain by Satoshipay and a host of others as well.
  • For the P2P Product, we’ve Got 1262+ users (1000+ on our waiting list who are excited about what we're building, 262 separate users that were fully signed up between the Nov 4th -11th launch)
  • In talks and partnering up with more anchors on stellar including USD ones  as well as 33+ stable currency providers (5 currently in development stage) on other chains for cross border interoperability powered by stable coins. Some of these partnerships have  opened up 5 new currency’s pairs on our P2P Platform.
  • Deal with AZA Finance giving us more local currency Liquidity for payouts


  • LINK for Global businesses:
  • On & Off Ramp (SEP 24 implementation) Treasury and custodial dashboard
  • Built and ready for launch (rounding up tests and all)
  • NGNC : Stablecoin is up and is tradeable on the Stellar DEX with anchor SEP24 Capabilities, we’ve been able to create the market for it with bit of liquidity gotten from our bootcamp grant prize
  • LINK P2P Platform for Individuals: With product design completed , we’re using proceeds from our bootcamp grant prize to fully develop this and get it ready by late June for beta testing (Note: we had upgraded what it used to be as at last year based on conversations with early users, new integrations and infrastructure being built on stellar as well)
  • WAVY: Product design ready, development is TBD

Fund raising

  • We got $15k in grants as winners and recipients of the just concluded DFS Labs & SDF Bootcamp to build out our on- and off- ramp capabilities as well as our B2B Product.


  • When test launched LINK P2P between Nov. 4th-11th 2021  before moving to build a scalable infrastructure on Stellar, we had a revenue of $5000
  • An estimated MRR of $825k is possible by late Q4 - middle Q1 2023 on our B2B Product

Going to markets in:

  • UK, Nigeria, Turkey, UAE, Kenya, Canada, China, EU countries and the US.


In 6 months, we want to hit the following Milestones

1. Launch and scale our P2P product;

  • Enhancing user performance
  • Scale up to 50k plus users
  • Scale monthly  transaction volumes by 25% MOM (with initial at 200k)
  • Expand currency route support through more anchors and protocol integrations.
  • Launch IOS and Android app
  • Added multi currency accounts holding
  • Reduce fees and wait times
  • Launch physical cards
  • Add MOMO (Mobile Money) support

2. Launch and expand B2B product;

  • Grow fully onboarded international businesses to 150+
  • Scale monthly  transaction volumes to an average of $500k-1m MOM
  • Add virtual debit cards that allow NGNC stablecoin spending

3. NGNC;

  • Add more blockchains with support
  • Grow adoption and use cases (Defi, Cefi, digital assets) with an ecosystem focused approach (wallets, exchanges, platforms, protocols, apps and service providers etc)
  • Drive grassroot local merchant payment adoption with Stellar NGNC (Tentative). We're intentional about this as we plan to hit the grounds of Alaba, Lagos or Onitsha in Nigeria with the Stellar Network team pushing for this amongst local traders.
  • Grow trading volumes to 1m USD value on stellar
  • To have NGNC reach a total supply of 1bn NGN backed by bank deposits.….

4. API

  • Scale our payments, payouts and FX API to over 70+ businesses across Africa.


  • Launch WAVY (beta) in late Q4

6. Legal:

  • Receive/Start Process for a Payment License

To get there, we request a budget of  

In order to achieve the above in the next 6 months, We’ve broken down targets in specific KPI’s across the various teams for a period of 20 weeks divided in 3 phases. After each week or after reaching key targets established in the roadmaps we run a full evaluation of the progress made in the week (asides our bi-weekly meetings to help each other) make necessary adjustments . Also to give a more specific insights partnerships with various anchors, service providers, access to funding for liquidity use cases, a payment license in the UK and Nigeria as well.

We will use these evaluations as a form to measure our progress and guidance as we work to meet goals and targets.

Additional information

Problem & Solution

Revenue Model




  • The team has strong experience across the various fields required to build LINK
  • We have connections with a vast network of Nigerian student bodies globally which contribute heavily to the cross border market size
  • We also are in active talks with regulators in CBN as well as to how to better navigate our product and how a pilot could potentially be a part of the existing banking infrastructure
  • Existing infrastructures can help us scale faster compliantly as its easier to build and integrate with regulated partners and platform ie. Flutterwave
  • NIBBS which powers interbank payouts in Nigeria allows a compliant and instant settlement infrastructure
  • We are the anchors of the only multichain NGN stablecoin, with the only existent interoperable protocol.


  • The monopolistic and bureaucratic structures that exist in Nigeria Pose as a challenge especially in License applications for example
  • Cost of building an anchor service, especially when only one existed before we came onboard, was challenging.
  • Arbitrage services taking advantage of our platform


  • Be the first fully compliant low risk Naira ramp (Anchor).
  • Establish ourselves as Hybrid bridge platform first company for global trade ability of the Naira
  • We are the only Cross border payments platform solving this issue in this way


  • Increased Sanctions & regulations on digital assets and crypto
  • Local regulators and institutions threatened by users holding alternative currencies that are not the e-naira
  • Local monopolies


Please note these exchange rates were the rates existing on these platforms, at the time of putting this together.

Imagine the potential LINK can harness with a market that already has a 32% adoption rate with existing market conditions like outlined above.



Pitch deck
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First Deliverable

Over the last 6 months, our team has worked on building strategic partnerships in order to achieve and deliver the goal mentioned above. Thanks to that work our team is confident that this goal is within reach. With the resources requested below, we believe we can commit to delivering this in 6 months.

Of the $77bn, Nigerian remittance size stands at $25.6bn with markups on the exchange rate still as high as 30-50% - According to stears business “Nigeria is 40% Dollarized” Government can’t meet fx demands

Nigeria also ranks 8th place in crypto adoption with 32% of her respondents as crypto users (2nd place in bitcoin adoption) with expensive or none existing means to conveniently ramp into defi.

Of these numbers over 54% is done informally without track records.

There is so much potential here that LINK needs to tap in to solve and we believe with the mission of the SDF and ours we bring so much to the table to tackling and accomplishing these things.

Our team is comprised of:

  • 3 Engineers (Fullstack, IOS, Frontend, Computer and Software)
  • 1 Project Manager (Operations)
  • 2 Business development sales and partnerships
  • 1 Legal
  • 4 Product Designers (UI,UX)
  • 2 Marketing (Digital inclusive)

We believe that our team is the core of LINK. We are confident that combining this with the great job the SDF has done puts us in a position to do something really impactful. Our products are launching between May/June and we are sure that with the moving parts we have in place we can accomplish this goal and take our product to market successfully.

In Q2 of 2022, LINK won a grant of $15K from DFS and the Stellar Development Bootcamp. These funds helped us build out some parts of our B2B product as well as little runway to build and do a 2nd market validation launch of the LINK P2P in June as well as liquidity for the NGNC Stablecoin, with such little resource we aim to show a snippet of how much we can achieve with the right kind of support and funding, Now LINK is looking for additional resources through the stellar community to help the company be where we want to be by Q4 of 2022.

We used up 42% of our $15k grant to pay salaries for work done thu far, buy equipment, development in the LINK P2P platform to go live in June, an extra 33.3% locked for liquidity to create a market, increase the supply and order books on the stellar DEX as well as liquidity to power the beta launch (market validation launch) of the LINK P2P platform in June, 6.7% used to upgrade security and efficiency of existing backend, Hosting & DNS Servers/Plans and other dev ops related as well as explore the NGNC bridging capabilities, 28.3% locked in for marketing and company running cost.

Our Request

Budget Requested: $50,000

Engineering/Devops: $19,330

Operations: 18,330

Legal: $6,030

Partnerships: $755

Marketing/Stratehics Ads: $5,555

In total were looking to fundraise 450K to boost development and are requesting $50,000 from SCF to get started

What that could look like


Backend Upgrades – $5,000

API Development (priority) – $5,000

P2P Product Upgrades (IOS & Android dev. On the way) – $10,000

APP Development (AWS, digital ocean), Internet Hosting service, Security and system backup – $2,000

Research and blockchain development.

LINK personalized development network for company workspace - $2,000

NGNC Token Liquidity: We need this as a criteria with some of our partners to setup up liquidity pools with NGNC and their assets, So creating a market for NGNC/USDC, NGNC/XLM, NGNC/KES, NGNC/EURC and so forth. – $150,000

OPERATIONS ($165,000)

Salaries; Gives us runway for the next 12 months – $90,000

Running cost – $50,000

Equipments (we’ve managed really low quality laptops to build LINK thus far, some have given up literally) - $25,000

LEGAL ($54,245)

UK License Application (EMI FCA License) – $6,245

Stablecoin Auditor fee (Still consulting) – $48,000


Business development (Travels, meetings, software for strategic leads and reach) – $6,755



Emmanuel Evarist- CEO/Co-Founder

Computer Engineer & Product Designer with 6years of experience, Former CEO FINC Arts and FINC Markets: a brand and design studio, at FINC Markets built algorithms and code for tradingview for large and small scale traders to be profitable on the Forex and Crypto market

Discord: ebuka#7034

Marvel Ekpo- COO/Co-Founder

Product designer, Former COO FINC Arts and FINC Markets: a brand and design studio, FINC Markets which offered better trading algorithms for traders.

Discord: Iam_Marvel (LINK)#0936

Tomisin Leshi- CTO/Co-Founder

Software Engineer, Fullstack developer, Former Dev at himylink:  a free platform that empowers global users to connect their info to the entire online system with a free, simple, quick link.

Discord: Unique-CTO (LINK)#7629

Victor Nwaejie- Brand Director

Product designer, Former Graphic Designer at VOIS Cyprus: an NGO that tackles problems in the lives of students studying and living in Cyprus.

Discord: ReKs (LINK)#2107