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© 2026 Stellar Development Foundation
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By Basilic — Stablecoin Rails for LatAm
Basilic is a hybrid money movement infrastructure for LatAm businesses. We help companies collect money, reconcile payments, hold balances, and move funds across fiat and crypto rails from a single system.
Most providers still treat fiat and crypto as separate products. Traditional payment processors focus on fiat collections. Crypto gateways focus on onchain settlement. Basilic connects both in one infrastructure, with shared reconciliation, balance management, and routing logic across rails.
The core problem is not just payments. Companies need to collect money, pay out, distribute funds, reconcile incoming transfers, and operate across countries without stitching together multiple providers. That is where we see the strongest demand today, especially in:
high-volume collections and reconciliation
marketplaces and merchant networks
cross-border service businesses
platforms that need treasury movement across fiat and crypto rails
What we learned building Basilic is that the operational logic that feels natural in blockchain — verifiable transactions, clear states, and traceable flows — is exactly what traditional fiat collections are missing. We are applying that same logic to PSP-backed collection flows such as CVU and Virtual Bank Accounts (VA), and then connecting those collected balances to a programmable enterprise wallet layer.
In this proposal, VA means Virtual Bank Account. In Argentina, that means the PSP-backed collection layer tied to CVU-based flows.
Argentina is the first market in scope because it is where we see the clearest immediate need for PSP-backed collections. After that, Basilic plans to extend the same collection and reconciliation model to Brazil, either through a PSP path or teller-style account infrastructure, and then to other LatAm markets.
Basilic serves two broad types of businesses from the same infrastructure:
fiat-first businesses that collect in local currency and want access to crypto rails without changing how they operate today
crypto-native businesses that receive crypto and need reliable treasury movement, settlement, or delivery into local currency
Current Basilic product surfaces include:
payment links and API-based collection flows
treasury and payout workflows
enterprise wallet experiences for businesses and platforms
real-time reconciliation and money movement orchestration across fiat and crypto rails
automated financial rules such as splits, commissions, escrow, conditional release, and bulk distributions
With this SCF build, Basilic strengthens the traditional collection layer first and deepens the onchain wallet layer behind it. The result is a system that prepares businesses to operate across fiat and crypto without forcing them to choose between separate infrastructures.
$100.0K
Live in production since Q1 2024:
Volume growth (verified production data):
- March 2026: $76K total volume
- April 2026: $131K total volume (+72% MoM)
- May 2026: $252K total volume (+92% MoM)
May 2026 detail:
- 43 payin operations · 340 payout operations
- 30+ B2B companies active across Argentina, USA, Brazil, and EU
- Fee revenue: $1,059 (blended 0.8% rate on volume)
- New clients onboarded in May: 5 new LLC operators across
the US-Argentina and US-Brazil corridors
Enterprise pipeline:
- 3 major leads in active onboarding
- Projected $2–4M monthly volume by Q4 2026
Active corridors: Argentina ↔ USA, Brazil (PIX), EU
Active payment methods: Wire, ACH, PIX, CVU/CBU, crypto
Infrastructure already live in production:
- BlindPay — integrated and processing real volume
- Privy — integrated with 30+ active clients
- Production API: docs.getbasilic.com
Prior SCF history:
- Applied SCF Round #37 (2025) — passed initial screening
with positive panel feedback
Founders:
- Daniele Morganti (CEO): linkedin.com/in/danielemorganti
- Mariano Vicario (CTO): linkedin.com/in/mvicario
Verifiable at: getbasilic.com
TRANCHE 1 TOTAL: $36,000 | Completion: Week 6 | Date: 31/08/2026
1. Stellar Wallet Layer with Privy Effort allocation: $13,000 · Estimated window: Weeks 1-3
A merchant can use a Basilic enterprise wallet on Stellar with Privy as the login and wallet experience layer.
Merchant balances can be held and displayed in Stellar_USDC inside Basilic.
Proof artifacts: merchant and treasury wallet public keys, dashboard screenshots.
Completion criteria: A Privy-authenticated merchant can access a Basilic enterprise wallet on Stellar and view a Stellar_USDC balance in the Basilic dashboard.
2. Payin and Payout on Stellar Effort allocation: $8,000 · Estimated window: Weeks 3-5
A merchant can move funds into and out of the Basilic enterprise wallet using payin and payout flows that use Stellar on the blockchain side.
Proof artifacts: transaction hashes for payin and payout, dashboard payout state screenshots.
Completion criteria: A merchant can move funds into and out of the Basilic Stellar wallet and see resulting balance and state changes inside Basilic, with verifiable transaction hashes on Stellar network explorer.
3. Payment Links Supporting Stellar Effort allocation: $15,000 · Estimated window: Weeks 4-6
A merchant can create a Basilic PaymentHub or payment link that supports collection and settlement on Stellar.
A customer can pay a Basilic payment link from a wallet or an exchange, Basilic can identify the incoming payment within the expected amount and validity window, and the PaymentHub can split platform fee and merchant proceeds on Stellar.
Proof artifacts: Stellar transaction hashes, Soroban contract IDs if used for payment validation or fee split, demo recording.
Completion criteria: A payer can complete a payment link from a wallet or exchange, Basilic identifies the payment within the expected amount and validity window, and platform fee plus merchant proceeds are allocated correctly on Stellar.
TRANCHE 2 TOTAL: $36,000 | Completion: Week 13 | Date: 15/10/2026
Note: Tranche 2 builds the PSP-backed fiat collection layer that feeds directly into the Stellar wallet infrastructure built in Tranche 1. Every peso collected via CVU or VA settles as Stellar USDC in the merchant wallet — the fiat layer is the ingestion path, Stellar is the destination. This workstream requires building the reconciliation engine and Stellar settlement bridge from scratch.
1. PSP Collection Layer for CVU and Virtual Bank Accounts (VA) Effort allocation: $16,000 · Estimated window: Weeks 7-10
Basilic supports PSP-backed collections in Argentina through CVU and Virtual Bank Accounts (VA).
Funds collected through this layer settle directly into the merchant's Stellar wallet built in Tranche 1 — CVU/VA is the fiat entry point, Stellar is the settlement destination for every collected balance.
This first version prioritizes a working Stellar settlement path over full UX polish: reconciliation matching logic covers the primary collection flows, with broader edge-case handling and settlement speed optimization planned as a post-grant iteration.
Proof artifacts: PSP collection references, reconciliation logs, internal settlement mapping records showing CVU/VA source and Stellar destination per transaction.
Completion criteria: Basilic can ingest PSP-backed CVU and VA collection events and map them to the correct merchant Stellar wallet balance destination.
2. va_payments, Bank Transfer Collections, and Payment Links Effort allocation: $14,000 · Estimated window: Weeks 9-12
Basilic supports va_payments and traditional bank-transfer collection flows through API and payment links.
Incoming collections are automatically matched and reconciled inside Basilic, and converted into the merchant's Stellar balance as part of the same reconciliation event — there is no separate manual step to bring fiat collections on-chain.
Proof artifacts: API evidence, collection event samples, payment-link flow screenshots showing automatic reconciliation and resulting Stellar balance update.
Completion criteria: Basilic supports API-based and payment-link-based fiat collection flows that reconcile automatically into merchant Stellar balances without manual matching.
3. End-to-End Argentina Collection Flow Effort allocation: $6,000 · Estimated window: Week 13
Reviewers can see a complete flow where a merchant collects through CVU or VA, Basilic reconciles the payment, the collected value lands as Stellar USDC inside the merchant's Basilic wallet, and becomes available for treasury and wallet use on Stellar.
Proof artifacts: end-to-end demo recording, collection reference plus corresponding Stellar settlement transaction hash, wallet balance evidence verifiable on Stellar network explorer.
Completion criteria: A merchant collects through CVU or VA, Basilic reconciles the payment, and the resulting value becomes available as Stellar_USDC in the merchant wallet — with transaction hash verifiable on Stellar network explorer.
TRANCHE 3 TOTAL: $28,000 | Completion: Week 18 | Date: 30/11/2026
Note: Tranche 3 is lighter in budget because Tranches 1 and 2 build all the core infrastructure. T3 focuses on production deployment, bridge integration, and operational readiness — building on a fully tested foundation.
1. Hybrid Delivery, Distribution, and EVM Bridge Support Effort allocation: $15,000 · Estimated window: Weeks 14-16
Basilic adds a first production distribution flow where outgoing funds can be delivered to the right destination: bank rails when the recipient should receive fiat, or direct Stellar delivery when the recipient should receive onchain funds.
Basilic also adds bridge-based settlement support from selected EVM networks such as Ethereum, Arbitrum, and Polygon into Stellar for eligible collection and treasury flows, with Circle CCTP (currently V1, with migration to V2 planned as part of the integration roadmap) as the bridge path.
All incoming payments from external chains are first converted to USDC on their source chain, then bridged to Stellar via Circle CCTP. USDC is the universal settlement asset — Basilic is not dependent on any specific token being available on Stellar natively.
Proof artifacts: payout batch demo, direct Stellar payout transaction hashes, bridge settlement transaction hashes on both source chain and Stellar network, routing decision evidence.
Completion criteria: Basilic can route outgoing funds to bank rails or direct Stellar delivery, and can process at least one end-to-end EVM-to-Stellar bridged settlement flow on mainnet with verifiable transaction hashes on both chains.
2. Production Launch on Stellar Effort allocation: $7,000 · Estimated window: Weeks 16-17
Stellar becomes the primary blockchain settlement rail for new production Basilic flows.
Polygon is removed as the default blockchain path for new hubs and retained only as a temporary legacy fallback if needed during migration.
Proof artifacts: production screenshots, anonymized merchant flow evidence, configuration proof that Stellar is default for new hubs, Stellar transaction hash log for production flows.
Completion criteria:
Stellar is the default blockchain rail for all new production Basilic settlement flows — verifiable via routing configuration and production transaction logs.
Minimum $50,000 total volume settled on Stellar mainnet by T3 completion, verifiable via transaction hash log on Stellar network explorer.
All merchants onboarding after T3 completion settle on Stellar automatically. Existing active merchants migrated to Stellar rail on a rolling basis post-launch.
Note on volume target: $50K is a conservative floor for three reasons. First, our June 2026 consolidated volume was ~$278K across all corridors — $50K represents less than 20% of a single month's volume migrated to Stellar. Second, volume and client count continue to grow month over month, meaning the base we can migrate to Stellar will be larger by T3 completion than it is today. Third, all new clients onboarding after T3 will settle on Stellar by default — their volume adds to the Stellar total from day one without requiring any migration effort. Our clients are chain-agnostic and BlindPay already operates on Stellar rails, making the migration technically straightforward. $50,000 is the minimum verifiable production threshold to demonstrate the settlement path works on mainnet — it is not a volume cap. Once Stellar is set as the default rail, all new production flows route there automatically, and migration of the existing active client base begins immediately following T3 completion as part of standard operations.
3. Operations and Launch Documentation Effort allocation: $6,000 · Estimated window: Weeks 16-18
Merchant-facing reconciliation, payout states, and core operational monitoring are live.
This first version covers essential production monitoring; expanded documentation depth and additional monitoring coverage are planned as a post-grant iteration.
Proof artifacts: runbooks, monitoring screenshots, operational dashboard evidence, anonymized merchant flow evidence, public documentation URL.
Completion criteria: Core operational monitoring, reconciliation visibility, and payout state visibility are live for the shipped scope. Public documentation live at getbasilic.com/stellar.
Daniele Morganti (CEO & Co-founder) — Bocconi University, former Affidaty (blockchain infrastructure), INTERPOL collaboration background. Led blockchain adoption initiatives across Latin America. linkedin.com/in/danielemorganti
Mariano Vicario (CTO & Co-founder) — Former Tripadvisor, InOrbit.AI, Rand Labs. Blockchain and fintech systems architect with production-scale experience. https://www.linkedin.com/in/mvicario/
Two technical-commercial founders with proven track record in crypto infrastructure and enterprise fintech in LatAm. Previously applied to SCF Round #37 — the ecosystem experience gave us clarity on where Stellar integration creates genuine, non-opportunistic value in our stack.
Mariano Vicario
Daniele
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