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By PayQin
PayQin offers a USDC wallet powered by Stellar for seamless cross-border payments, enabling users in emerging markets to access global financial services.
We have successfully integrated the Flutter SDK for Stellar, enabling non-custodial wallet creation for our users. This integration ensures that users have full control of their funds, with a focus on security and transparency. We’ve also implemented SEP 10 authentication to provide secure user authentication and SEP 24 to enable seamless cash-in and cash-out functionality through our strategic partnership with MoneyGram. This was the first crucial step in our journey to bridge cash-based economies with digital finance solutions. With this submission, we aim to take the next step by implementing SEP 30, which will allow for seamless onboarding without the need for a passphrase, significantly improving the user experience and simplifying wallet access for new users. This will remove one of the key barriers to adoption, making our platform more accessible to a broader audience. Additionally, we have recently partnered with Stripe to enable seamless USDC account funding on the Stellar network across the US and European markets, further expanding our reach and providing more funding options for users. However, we are facing challenges with real-time USDC funding for Mobile Money top-ups in emerging markets such as West and Central Africa. While we are integrated with major Mobile Money providers, maintaining sufficient liquidity in our USDC pool is a critical bottleneck. This liquidity is essential to ensure smooth, real-time account funding and to fully leverage our partnerships with Stellar and MoneyGram. Given the strategic importance of these markets and their potential to drive significant transaction volumes on the Stellar network, we propose setting up a USDC liquidity pool. This pool will allow users to fund their wallets using local payment methods, ensuring real-time processing and further empowering users in underserved regions.
Maybe in the future, but not in this submission
$100.0K
1\. User Growth and Engagement: * 50 000 active users within 12 months of launching the MVP, with a focus on key markets in West and Central Africa. * Fully integrate Mobile Money providers in West and Central Africa, enabling real-time wallet funding for users. * Ensure that the USDC liquidity pool operates smoothly, providing adequate liquidity to meet user demand for Mobile Money top-ups, with a goal of maintaining 99% uptime for real-time funding. * Achieve 100% seamless onboarding for new users through SEP 30, removing the need for passphrases. * Reduce user onboarding time to under 2 minutes with a simplified non-custodial wallet creation process.
Go-To-Market Plan 1\. Target Audience: * Our primary audience consists of unbanked and underbanked users in emerging markets, particularly in West and Central Africa (Côte d'Ivoire, Senegal, Cameroon, etc.), where access to digital financial services is limited. * Secondary markets include users in diaspora communities in Europe and the US, who send remittances to Africa, and digital-savvy users seeking efficient cross-border transactions. 2\. Strategic Partnerships: * MoneyGram Integration: We will promote the ability for users to cash-in and cash-out USDC via 183,000 MoneyGram locations globally, emphasizing convenience and low costs for remittance senders and receivers. * Stripe Integration: In the US and European markets, we’ll highlight our Stripe partnership, allowing seamless funding of USDC wallets on Stellar, targeting users who need a stable and affordable cross-border payment solution. * Mobile Money Providers: By integrating major Mobile Money platforms, we aim to attract users familiar with these systems for real-time wallet funding, particularly in West and Central Africa. 3\. Key Launch Strategies: * Influencer and Community Marketing: Partner with key regional influencers and financial advocates to promote PayQin’s ease of use, particularly targeting diaspora communities and local users who frequently use Mobile Money services. * Localized Content and Education: Develop localized marketing materials and user education campaigns that explain how to use USDC wallets, the benefits of digital finance, and how users can benefit from cash-in/cash-out services with PayQin and MoneyGram. * Referral Programs: Implement a referral incentive program to encourage existing users to invite friends and family, leveraging word-of-mouth and community networks in target regions.
User Base Growth: PayQin counts over 100,000 app downloads with our presence across seven countries, our primary markets being Côte d'Ivoire, Senegal, Cameroon, and others in Africa. With the recent MoneyGram partnership, we expect significant user growth as we expand our services to a global scale. Key Partnerships: We have secured a strategic partnership with Visa, committing to support PayQin's expansion across Africa. Additionally, our integration with MoneyGram allows users to fund their USDC wallets in 183 countries, providing a critical link between cash-based and digital economies. Community and Ecosystem Involvement: PayQin actively participates in the Stellar ecosystem and has already secured a $50K grant from the Stellar Development Foundation for our work on the MoneyGram integration which is now live, up and running on the Mainnet.
Milestone 1: Minimum Viable Product (MVP) * Deliverable 1: USDC Liquidity Pool Setup * Brief Description: Establish a USDC liquidity pool to enable real-time Mobile Money top-ups for users in West and Central Africa. * How to Measure Completion: The liquidity pool will be operational and integrated with major Mobile Money providers, allowing real-time account funding for users in these regions. * Estimated Date of Completion: 2 months from project approval. * Budget: $40K * Deliverable 2: SEP 30 Implementation * Brief Description: Implement SEP 30 for seamless onboarding, removing the need for passphrases and simplifying user access to PayQin’s wallet. * How to Measure Completion: Users will be able to create non-custodial wallets and onboard without a passphrase. Successful completion will be verified by the ability of users to seamlessly onboard through this feature. * Estimated Date of Completion: 2 months from project approval. * Budget: $30K
Milestone 2: Testnet * Deliverable 1: Testing SEP 30 and USDC Pool on Stellar Testnet * Brief Description: Test the SEP 30 implementation and USDC liquidity pool on the Stellar Testnet to ensure functionality, security, and scalability. * How to Measure Completion: SEP 30 and the liquidity pool will pass functionality tests on Stellar Testnet with no major issues, validated through a successful series of test transactions. * Estimated Date of Completion: 2 months after MVP completion. * Budget: No funds unlocked (access to Stellar LaunchKit for infrastructure and audit credits).
Milestone 3: Mainnet Launch * Deliverable 1: SEP 30 and USDC Pool Deployment on Mainnet * Brief Description: Fully deploy SEP 30 onboarding and the USDC liquidity pool on Stellar Mainnet, enabling real-time Mobile Money funding for West and Central African users. * How to Measure Completion: Users will be able to onboard without a passphrase and fund their wallets with Mobile Money top-ups via the USDC pool, verified through real-world use cases. * Estimated Date of Completion: 2 months after Testnet completion. * Budget: $30K
Team with Fintech experience and market knowledge - Fabrice Amalaman Founder CEO Ex BNP Paribas - Middle office - Wealth management - Part of team with Eur 1.6B assets under management. Patrick Ouraga COO Ex Société General, Business account manager with up to 150 companies in portofolio. Serge Ayepi CTO Senior Java Software Engineer with 10 years Experience - Previously at Disneyland Paris.
Patrick Ouraga
Fabrice Amalaman
By PayQin
PayQin: Blockchain made simple