SCF #11
LiveWallet - Fiat on- and off-ramps

LiveWallet enables cashing in and out of crypto through Mobile Money agents in Africa.

Budget request:

Project Stage



Defi & Wallets

Based in


Team size


Active since

Products & Services

LiveWallet is building an infrastructure on Stellar Network that allows the general public to convert physical cash into crypto and crypto into physical cash at thousands of accredited Mobile Money agent outlets across Africa.

Our Products

  1. Non-Custodial Wallet: An all-in-one crypto wallet where users can send & receive payment, store their crypto, swap their crypto assets, cash in and out, find merchants that accept crypto, learn & earn and contribute & earn from transaction fees. The crypto wallet is to help bank the majority of the unbanked in Africa and help most investors hedge their highly depreciating currencies.

  1. On-and off-ramp for Africa: A simple way to convert physical cash into crypto and crypto into physical cash at thousands of accredited Mobile Money agent outlets across Africa. Projects built on stellar can integrate our payment service for customers to use our Mobile Money agent on and off-ramp for Africa.

How it Works

Cash In via Mobile Money agent

  1. A customer fills in the amount of USDC they want to purchase in their currency, and they will automatically see how much they will receive in USDC.
  2. A customer walks to a nearby agent with the request payment via a QR code option.
  3. The agent takes the physical cash, initiates cash-in and scans the customer’s QR Code to get their address and the amount requested.
  4. The agent verifies everything is correct (the amount and the address) and then confirms the transaction.

Cash Out via Mobile Money agent

  1. A customer initiates withdrawal by filling a form with personal information and the amount of USDC they want to withdraw
  2. Customer receives a unique token code, then walks to a mobile money agent outlet with an identification card and the unique code.
  3. Mobile Money agent opens their app, fills out the Cash out form by entering customer’s unique code and user ID
  4. Mobile Money agent receives USDC with commission for providing the service and pays out local currency to the customer.

How LiveWallet Uses Stellar

  1. We use SEP-24 to accept fiat deposits and withdrawals via the Mobile Money agent outlet.
  2. We use SEP-12 for KYC so that users can communicate with other anchors.
  3. We use SEP-30 for easy backup and recovery with the user's Email and Phone Numbers.
  4. Become an Anchor on Steller Network for projects built on stellar to use our Mobile Money agent on and off-ramp for Africa.

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Previous Project(s)
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Progress so far
  1. Fully Implement SEP-24 integration to allow fiat on- and off-ramps by February 2023.
  2. Launch our Mobile Application publicly by February 2023.
  3. Partner with five(5) anchors and other blockchain-related projects by March 2023.
  4. Acquire 30,000 Active Users by May 2023.
To get there, we request a budget of  
  • Hire one additional flutter/blockchain developer to build custom on- and off ramp integration.
  • Acquire Payment Service License.
  • Engage in community networking and building relations with other anchors .
  • Market our product online and collaborate with other crypto-related projects, influencers, and crypto communities.
Additional information


  1. Most crypto investors in Ghana and other African countries over-rely on anonymous P2P traders to cash in and out of crypto. Most of them get scammed along the way, a big problem hindering cryptocurrency adoption.
  2. Acquiring cryptocurrency through exchanges may be complex and time-consuming, especially for people with limited access to banking services.
  3. The limitation of local currencies to crypto gateways has also contributed to the slow penetration of crypto-related projects in Africa.

Why Now

As of 2022, rising inflation has become a shared trend in Africa. For instance, Ghana's current inflation stands at 37.2% in September 2022. Considering the rate of the economic meltdown, individuals have resorted to safe investments. Opening dollar and foreign currency-denominated accounts involve a very cumbersome process. As a result, they have no safe and simple way to hedge their highly depreciating currencies.

Value Proposition

Leveraging the over 3 million mobile money agents in Africa and Stellar technology to make it easy to convert physical cash into crypto and crypto into physical cash directly.

Target Customers

Our initial target customers are crypto enthusiasts,  freelancers, investors and Mobile Money agents in Ghana, Nigeria and Kenya.

Market Size

According to Chainalysis, Africa’s crypto market reached $100.6 billion in 2022.

Revenue Model

  • Cryptocurrency to fiat currency conversion
  • Transaction fees
  • Commission.


LiveWallet is creating financial freedom for over 1.3 billion people in Africa.


  • MVP Developed
  • 2000+ waitlist signups
  • Top 50 global startups on Pioneer Tournament


  • Organize webinars and seminars in tertiary institutions through ambassadors to educate and create awareness.
  • Collaborate with existing crypto-related projects, local influencers, and communities.
  • Reward early adopters and capitalize on them to reach more people through networking.
Pitch deck
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First Deliverable


Francis Owusu-Mensah (Mindsetter#9545)


Francis is a serial entrepreneur and a developer who has led several businesses in the tech and e-commerce industries. Today, his entrepreneurial spirit drives him towards developing new technologies, with a dedicated focus on cryptocurrency and blockchain, which will completely change the financial market in Africa.



Samuel Boateng (RR#3094)


Samuel has good communication skills, dedication to understanding and years of experience in the Cryptocurrency and Blockchain industry. His experience can be leveraged to provide the necessary tools to assist LiveWallet's journey toward becoming the best and most valuable cryptocurrency wallet in Africa.