Stellar Community Fund

By BPV StellarMesh Anchor

BP Ventures

SCF #10

$125.0K

Legacy v3.0 Award

Awarded

Helping FinTechs Leverage Stellar Technologies

Products & Services

BP Ventures provides Stellar blockchain payment solutions and software development services for Money Transfer Operators, Exchange Houses, FinTechs, Banks, and Telcos that add new revenues, decrease fraud and charge-back rates, and improve working capital and treasury efficiencies.

In particular, BP Ventures fills a vacuum in the market by advising Money Services Businesses (MSBs) and Banks on how best to implement and use Stellar. MSBs are often skeptical of the benefits of blockchain technology. They see additional risks, like potential compliance and bank account issues, with little understanding of how to implement Stellar blockchain-powered payments into their existing business.

Based on our 20 years of experience in payments and banking and our actual implementation of Stellar at Tempo, an EU-regulated payment institution, we directly address MSBs' concerns with a risk-reduced and structured Stellar onboarding process which includes 3 easy steps.

Step 1: Leverage USDC as a payment mechanism for MSBs. Paying into their existing remittance system and using a non-custodial payment gateway with a one-click integration solution makes this option fast and easy to implement with little risk. In particular, using USDC as a payment mechanism solves many real-world problems for MSBs.

For example, chargebacks are growing at 20% per annum. BP’s solution has immediate value as it allows MSBs to reduce charge-back rates and fraud, as USDC payments are irreversible. Funds are immediately available, thereby assisting MSBs' working capital utilization and improving their treasury efficiencies. In contrast, card payments are credited by the processor up to 15 days following the transaction. Lower cost: USDC payment mechanism is cheaper than cards that average between 1.8 to 3.5% plus additional charge-back and fraud fees may be applicable. Our one-click integration into major money transfer systems already has thousands of clients. BP has negotiated this contract with 2 major MSB IT vendors. New customers: ability to tap into different types of customers than the MSB may typically service. One-click integration into Circle for the MSB to instantly receive digital funds. Supports USDT from Ethereum via Apay and Bitcoin Lightning path payments (that convert to USDC). BP's product roadmap with the additional SCF funding includes integrating directly into thousands of backend systems via Zoiper such as Xero, Quickbooks. Complete Circle API integration. Integrate into Temenos, opening 1,600 banks and credit unions to the Stellar blockchain. Elliptic integration.

https://pay.bpventures.us is charged on a pay-as-you-go model to MSBs already on some key remittance systems that BP has already fully integrated with. The individual MSB pays only once they have hit the volume threshold of 10,000 USDC in volume, to encourage use. BP’s commission revenue is split with the IT platform providers, giving new revenue streams for these backend vendors.

Step 2: Our Anchor in a box solution allows MSBs to connect to Stellar as a payment rail for easy cash-in and cash-out of USDC via SEP 31/6/24 as well as directly sell USDC. This new product provides new revenues and new customers to MSBs. Currently, Polaris is accessible by the Admin Panel, but it's confusing and hard for most MSBs to understand and get started. We have a customized version that allows for a junior operator to manage transactions. It also has an integrated sftp/ftp module that can send batch jobs of transactions including KYC to any website or system backend. With SCF funds, we can complete the full integration into 3 major backend providers as well as one-click integration with several KYC providers for wallet integration.

Step 3: Expanded Stellar Blockchain use through BP’s White label, customized DeFi dashboard solution. The DeFi dashboard solution enables MSBs and their customers instant access to the DeFi ecosystem to trade, swap, invest in DeFi, or cash in/out all from one easy-to-use app. Expanded Stellar blockchain use thanks to BP’s DeFi dashboard solution with open API connectivity for fast, easy integration into Money Service Businesses software platforms.

The DeFi dashboard provides an easy way for those who want to protect their funds from inflation to put their funds into USDC. We think of it as a simplified Uniswap with deposit and withdrawal functionality. It supports all major DeFi wallets such as Albedo, Freighter, xBull, Rabet, and Ledger. It has a seamless onboarding process for new users to crypto. It supports mobile users via Albedo and xBull. It shows the market price via Coingecko API (may be moved to an oracle). It shows the positive or negative gain vs Coingecko (Impact). It protects users from trading too much from the Coingecko price via slippage protection. Integration into Google Analytics to help MSBs track customer usage.

The DeFi dashboard is built on Stellar blockchain technology with advanced algorithms that enable users to obtain better pricing when they swap instead of a simple path payment. Our product roadmap includes: It is build-ready to support Stellar Smart contracts when they launch later this year. Additional Liquidity Pool Staking options. Reports on incorrectly priced assets (trading opportunities). Virtual Visa Card issuance. Direct integration with Exchanges and other partners - Deposit into Bitso where the user needs only to enter their member id/memo.

Requested Budget

$125.0K

Team

BP Ventures’ core team consists of six dedicated members with deep expertise in Stellar blockchain and fintech innovation, supported by additional advisors and blockchain specialists as needed. Founders and directors Anthony Barker, https://www.linkedin.com/in/anthony-barker-15288a/ and Jeff Phaneuf, https://www.linkedin.com/in/jeffrey-michael-phaneuf-70540930/ have been Stellar blockchain and payment experts since 2017 with extensive experience leading fintech and blockchain projects globally.