Stellar Community Fund

By Kript

Kript -Crypto checkouts

SCF #27

$35.0K

Legacy v5.0 Activation Award

Awarded

Kript is crypto payments API infrastructure for merchants and businesses

Products & Services

Kript is a crypto infrastructure that allows merchants and businesses to accept payments using crypto checkouts, access crypto swaps, onramp, and offramps.

Problems that Kript solves:

1. Merchant Payments: Kript allows merchants to generate payment checkout links that enable customers to pay using Stellar USDC, XLM. When a customer makes a payment using the checkout link, Kript automatically converts the received cryptocurrency (e.g., BTC or non-stable coins) into Stellar USDC, ensuring price stability for the merchant. Merchants can also receive payment directly in Stellar USDC via payment links. The merchant can then choose to keep the funds in Stellar USDC or seamlessly offramp them directly to their local bank account, reducing the risk of volatility and enabling quick access to fiat currency. This use case simplifies the payment process for merchants, expands their customer base to include cryptocurrency users, and reduces the costs and delays associated with traditional payment methods.

2. Remittances: Kript allows users to send cross-border payments using Stellar USDC or XLM, enabling fast and low-cost remittances. Senders can onramp their local fiat currency into Stellar USDC, specify the recipient's details, and initiate the remittance transaction. Kript handles the conversion of Stellar USDC to the recipient's local currency and offramps the funds directly to their bank account. By using Stellar's blockchain, Kript bypasses the intermediaries and high fees associated with traditional remittance services, making the process faster, cheaper, and more accessible to people. This use case is particularly beneficial for migrant workers, expatriates, and businesses with international operations, as it streamlines the remittance process and reduces costs.

Benefits: 1. Financial Inclusion: Kript promotes financial inclusion by enabling businesses to accept payments from customers who may not have access to traditional banking services. 2. Lower Transaction Costs: Stellar's low transaction fees can help businesses save on costs associated with traditional payment methods, especially for cross-border transactions. 3. Faster Settlement: Stellar's fast transaction speeds allow for quicker settlement of payments, benefiting both businesses and their customers.

Requested Budget

$35.0K

Team

Team

Ayomide Lasaki – CEO and Co-Founder:
Ayomide is a dynamic Web3 Product Marketer with five years of experience in building and scaling innovative blockchain-based products. Her strategic vision and expertise in market positioning drive Kript’s mission to leverage the Stellar network for empowering merchants in emerging markets. Ayomide excels in aligning product development with Stellar’s capabilities to ensure seamless integration and widespread adoption.
Ademola Abisayo – Senior Software Engineer:
Ademola is a highly proficient software engineer with a strong background in developing financial and blockchain-based solutions. With extensive experience in the Stellar stack, Ademola ensures that Kript’s platform is robust, secure, and optimized for Stellar’s fast transaction processing and low-fee structure. His technical leadership is pivotal in integrating Stellar Anchors like Flutterwave and Bitstamp, facilitating efficient cross-border payments and currency conversions.
Peter Ademoki – Senior Frontend Engineer:
Peter is a seasoned Frontend Engineer with over seven years of experience in building Web3 products. His expertise lies in creating intuitive and responsive user interfaces that enhance user experience and drive engagement. At Kript, Peter leverages Stellar’s frontend tools to develop a user-friendly merchant dashboard and mobile payment solutions, ensuring that merchants can easily manage transactions, access real-time analytics, and interact seamlessly with the Stellar-powered payment infrastructure.
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