LiveWallet enables cashing in and out of crypto through Mobile Money agents in Africa.
Project Stage
Category
Based in
Team size
Active since
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.
Cash In via Mobile Money agent
Cash Out via Mobile Money agent
How LiveWallet Uses Stellar
Problem
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
Impact
LiveWallet is creating financial freedom for over 1.3 billion people in Africa.
Traction
Go-to-Market
https://drive.google.com/file/d/1rtC6IzWooBODDhJ9p2MRL0d4YzuWQbqZ/view?usp=sharing
Francis Owusu-Mensah (Mindsetter#9545)
CEO/CTO
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.
LinkedIn: https://www.linkedin.com/in/francis-owusu-mensah/
Github: https://github.com/Mindsetter
Samuel Boateng (RR#3094)
COO
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.
LinkedIn: https://www.linkedin.com/in/samuel-boateng-626a13134/
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.