Stellar Community Fund

By CodeLnPay

CodeLnPay

SCF #25

$37.9K

Legacy v5.0 Activation Award

Awarded

CodeLnPay offers cross-border salary payments to help African-based remote workers seamlessly collect their income.

Products & Services

Codeln Pay is a fintech platform that allows seamless salary cross-border payments. We make it easy for African-based remote workers to seamlessly receive their salaries from employers abroad. These were some of the challenges they have been experiencing in accessing their income: Salary delays, 1-2 weeks after it has been sent. They pay 10 - 15% in charges to collect their salary. Income is affected by constant currency devaluation. They had lost multiple job offers because the employer’s bank was not allowed to transfer money to certain regions in Africa.

We have a community of over 17,000 techies (Software Engineers, Blockchain Engineers, Cloud Engineers, Product Designers). The gig workforce is fast growing in Africa, we want to help mitigate the barriers to access to jobs and connect youths in these underserved markets to jobs without borders. Enabling them to have equal access to job opportunities and decent pay. We also want to enlighten them about opportunities in Web3 and introduce them to building their product on the Stellar Network.

These are some of the benefits our users will get from the proposed product: Get their salary instantly in their digital wallet. Only pay as low as 1% in charges. Hold their income in USDC to mitigate currency devaluation risk. Access to more job opportunities without restrictions.

How we will use Stellar: CodelnPay will use Stellar to overcome the challenges of cross-border payments that are especially unique to Africa and deliver a fast, secure, and cost-effective payment channel to employers' workforce in Africa. CodelnPay will leverage: Non-Custodial Wallet: CodelnPay will leverage non-custodial wallets to maintain low regulatory risk enabling us to iterate faster. It will also allow us to abstract the details of the underlying crypto working for our users. On-ramp and Off-ramp solutions: SEP 24 to enable fiat deposits/on-ramping. Stably and MoneyGram Access will be used for USD<>USDC on-ramping. SEP 24 to enable withdrawals/off-ramping via MoneyGram Access. Including ClickPesa and Finclusive in Nigeria, Kenya, and Ghana our most common markets. Features: Invoicing: Employees can issue invoices to employers for salary payments. Streamlined Easy Payment Service: Employers can easily make salary payments in USD|EUR|GBP from their banks or bank applications. Fast and Cost-Effective Remittance: Employees can save in USDC and cashout in their local currencies.

Requested Budget

$37.9K

Team

CEO, Elohor Thomas.

https://www.linkedin.com/in/elohorthomas/

Elohor has over 10 years of work experience in sales, recruitment, and engineering. She has an MSc. in Systems Engineering (Artificial Intelligence Major) and she has previously built Machine Learning Projects. She is currently responsible for business, investment, and team management.

Discord: Elohor#6816

CTO, Philisiah Mwaluma.

https://www.linkedin.com/in/philisiah-mwaluma/

Discord: phili0847

She has over 8 years of work experience in software engineering and tech training. She heads the engineering team at CodeLnPay. She has strong experience building Fintech, Mobile and Web3 Products. She led the team to developing our current product on Stellar.

COO, Dennis Ruhiu.

https://www.linkedin.com/in/dennis-ruhiu-abb1b0ab/

Discord: dennisruhiu\_05285

Dennis has over 6 years of work experience in operations and engineering. He is responsible for design, frontend, and operations. He designed and built the frontend for our current product and Stellar integration.