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By Elsa Wallet: Banking Filipinos
A wallet for Filipinos to receive, spend and earn from their remittances – bringing them closer to their overseas loved ones
elsa.care is an all-in-one platform where Overseas Filipinos and their loved ones can deal with all-things-money: send, receive, hold, and earn in a flexible, social, and easy way for senders and receivers. FEE-FREE CROSS-BORDER PAYMENTS APP FOR OVERSEAS WORKERS. Our app allows overseas Filipino workers to transfer money without fixed fees at the best rates – saving an average 7.5% in fees on their hard-earned money. By removing fees, migrant workers are empowered with the opportunity to send what their families need, when they most need it. We built a network of +25,000 offramp locations nationwide – covering grocery chains, drugstores, hospitals, clinics, financial institutions, and cash networks, as well as utility suppliers including load and data providers, electricity, and water billers. RECEIVER WALLET: LAUNCHING THE FIRST TWO-SIDED REMITTANCE SERVICE. But remittances are naturally a two-way dynamic between migrant workers sending and those receiving funds – currently only served through remittance solutions on the send-side. +50 million people in the Philippines rely on remittances to make ends meet. More often than not, these people have been left behind by the financial system. The elsa.care Receiver App allows distant families to communicate and manage their family finances in a one-stop-shop. Through our wallet, Elsa revolutionizes the off-ramping experience for those whose lifeline depends on cross-border inflows. Allowing recipients to receive and track remittances, hold it in a local currency token – or USDC to hedge inflation – generate a yield on their balance, redeem through our nationwide network, and even earn rewards from our partners. A NEXT-GEN APP FOR FINANCIAL INCLUSION OF THE UNDERBANKED. We aim to onboard non crypto-savvy users to benefit from Stellar by building non-custodial wallets for the underbanked Filipinos. This project will be the first step towards building an ecosystem of decentralized financial services that empowers 50% of the Philippine adult population to save, spend, and even access fair credit and loans. This wallet serves as the cornerstone of our vision: helping make payments more fair, and the financial system more accessible for +60m Filipinos!
$95.0K
Ignacio Jimenez de Laiglesia
Alessandro Colombo
No other submissions.