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By Figo
What: A live fintech platform that gives global workers, freelancers, and creators a free virtual Visa card and a US dollar account (US routing number + IBAN), available in 50+ countries. Users receive USD from platforms like Payoneer, Deel, and Wise, fund their accounts in local currency or crypto (USDT & USDC), and spend at 70M+ merchants worldwide. This submission integrates Stellar as the core settlement and wallet layer, enabling native on- and off-ramping, cross-chain funding, embedded wallets, and yield on idle balances.
What: Integration of the Privy SDK to replace the current authentication backend and provision a non-custodial Stellar wallet for every Figo user embedded seamlessly behind the existing email sign-up flow. No seed phrases, no browser extensions, no crypto knowledge required.
How Stellar is used: Each user receives a Stellar keypair, managed via Privy's MPC-secured enclave. All on-chain balances, USDC trustlines, and transaction signing are handled natively on the Stellar network. Privy signs the SEP-10 challenge for Anchor/MoneyGram authentication and the Soroban contract calls for DeFindex, making the Stellar wallet the cryptographic identity layer for every downstream integration.
Impact: Every Figo user becomes a Stellar account holder. This is not a crypto product; these are non-crypto-native workers in emerging markets who gain true asset ownership on Stellar without changing the frictionless Web2 experience they already use. Figo's existing user base becomes an immediate injection of real, active accounts into the Stellar network accounts that transact, hold USDC, and interact with Soroban DeFi.
What: Integration of the Near Intents Swap API to unify all crypto deposits into a single Stellar settlement point. Replaces fragmented multi-chain deposit addresses (currently Polygon, Avalanche, Ethereum) with one universal funding funnel.
How Stellar is used: Incoming intents from external chains (Ethereum, Base, Solana, Arbitrum, Avalanche) are resolved by delivering native USDC directly to the user's Privy-managed wallet. Stellar serves as the universal settlement destination regardless of which chain the user funds from. Figo's Transaction Processor monitors incoming payments via Horizon streaming and updates the user's balance in real-time.
Impact: Eliminates wrong-chain risk (currently a real problem, as users send to the wrong deposit address and lose funds) and collapses multi-chain monitoring infrastructure into a single Horizon endpoint. Every cross-chain deposit from every supported chain settles as a Stellar USDC transaction, driving real, recurring cross-chain volume onto Stellar that would otherwise land on Ethereum or Solana.
What: Two new Stellar-powered off-ramp channels added alongside the existing fiat partner, giving users a choice between bank transfer (SEP-24) and physical cash pickup at 350,000+ MoneyGram locations in 170 countries. Solves the critical "last-mile" problem for users in low-banking-penetration regions.
How Stellar is used: Implements SEP-1 (stellar.toml discovery), SEP-10 (mutual authentication via Privy wallet signing), and SEP-24 (interactive deposit/withdrawal) to connect Figo to regulated fiat rails. For MoneyGram cash-outs, USDC is converted to XLM via the Stellar DEX using pathPaymentStrictSend, then submitted to the MoneyGram Access anchor address. Users receive an 8-digit reference number and pick up cash at any MoneyGram location worldwide.
Impact: Figo currently serves users in 50+ countries, but can off-ramp only ~12 via the existing partner. MoneyGram Access instantly opens 170 countries, including critical markets with low bank penetration (rural Nigeria, the Philippines, Bangladesh). Every off-ramp generates an on-chain USDC→XLM DEX trade + a Stellar payment — recurring network activity from real users converting real working capital to real local currency.
What: Integration of DeFindex yield aggregator smart contracts on Soroban to transform idle card balances from dead capital into revenue-generating positions. No other dollar card product offers on-chain yield to non-crypto users. This is a first.
How Stellar is used: Idle USDC in the user's Privy-managed Stellar wallet is programmatically deposited into DeFindex vault strategies on Soroban. The user sets a reserve threshold (e.g., "keep $200 for spending, deploy the rest"). Yield accrues on-chain and is displayed in real time on the dashboard. When spending drops below the threshold, Figo auto-withdraws from the vault to replenish all via Soroban contract invocations signed by the Privy wallet.
Impact: Drives real-world TVL into Soroban DeFi from an entirely non-DeFi audience of workers holding USD as a savings vehicle in inflation-prone economies (Nigeria, Argentina, Egypt, Pakistan). This is not speculative capital; it is working capital from people who need yield to preserve purchasing power. Every opt-in generates recurring activity on the Soroban contract and locks real USDC value into the Stellar DeFi ecosystem.
$75.0K
Total Volume: Over $1m in processed transactions across major stablecoins (USDC, USDT).
Launched: February 2026. Total users 3000
On-Chain Verification: You can view some live transaction clusters and flow via the Arkham Intelligence Visualizer.
Budget: $15,000 (20%) | Timeline: 3 weeks after kickoff
Deliverable 1: Privy Wallet Integration
Key Tasks: Implement Privy SDK, configure wallet generation, set USDC trustlines, migrate user sessions.
Success Metrics: Wallet addresses visible in admin, smooth user migration, automated trustlines, published demo video.
Timeline: Week 2
Budget: $7,500
Deliverable 2: Near Intents Funding
Key Tasks: Integrate API, build intent service, implement solver callbacks, create UI flow.
Success Metrics: Successful testnet resolution, 60-second dashboard sync, Stellar Expert verification, published demo video.
Timeline: Week 3
Budget: $7,500
Budget: $22,000 (30%) | Timeline: 6 weeks after kickoff
Deliverable 1: Anchor Platform (SEP-24)
Key Tasks: Implement SEP-1, SEP-10, and SEP-24, build withdrawal UI, and handle callbacks.
Success Metrics: Functional testnet flow, successful SEP-10 handshake, real-time tracking, published demo video.
Timeline: Week 5
Budget: $11,000
Deliverable 2: DeFindex Yield Integration
Key Tasks: Build the interaction layer, create the opt-in UI, implement the reserve logic, build tracking.
Success Metrics: Successful testnet opt-in/accrual, instant withdrawals, valid reserve logic, published demo video.
Timeline: Week 7
Budget: $11,000
Budget: $30,500 (40%) | Timeline: 8 weeks after kickoff
Deliverable 1: MoneyGram Access
Key Tasks: Integrate the API, build the DEX USDC-to-XLM conversion flow, and implement the payout UI.
Success Metrics: Functional testnet cash-out demo, verified DEX conversion, error handling tested, published demo video.
Timeline: Week 6
Budget: $11,500
Deliverable 2: Mainnet Deployment
Key Tasks: Deploy all integrations to mainnet, conduct rigorous end-to-end testing, implement retry logic.
Success Metrics: Mainnet live, 3+ real verified transactions per flow, complete user journey functional, testing report published.
Timeline: Week 8
Budget: $9,500
Deliverable 3: Real-World Validation
Key Tasks: Onboard 50+ users to Stellar features, collect feedback, resolve friction points.
Success Metrics: 50 users funded via Stellar flow, 10 fiat off-ramps completed, survey results documented, public launch.
Timeline: Week 8
Budget: $9,500
3- person founding team with deep fintech and payments experience across Africa and globally.
Abraham Ojes (Co-founder & CEO) — Previously at Collect and Autospend. Led product, compliance, and infrastructure development across card issuance, stablecoin rails, and multi-corridor fiat on/off-ramps in 50+ countries.
Evan Eburu **(Founding Engineer)**is a blockchain infrastructure and crypto payments builder with experience spanning technical architecture, API systems, and blockchain integrations. As a Founding Engineer, he has contributed to the design and development of scalable payment infrastructure and developer-focused solutions within the digital asset ecosystem. With over two years of hands-on experience building with the Stellar blockchain technology stack, Evan has focused on developing reliable systems that bridge traditional finance and blockchain-based payments. His expertise includes backend engineering, infrastructure design, payment workflows, and API architecture for modern financial applications.
Blessing Makaraba (Founding Engineer) — Previously at GTBank, Flutterwave, Collect, and Autospend. Deep experience in financial systems engineering and payment integrations across African markets.
evans
Abraham Ojes
No other submissions.