Stellar Community Fund

By SendIN

SendIN [Phase 2]

SCF #36

$67.0K

Build

Awarded

Revolutionizing Cross-Border Payments To India

Products & Services

SendIN is a payments platform built on the Stellar network, designed to revolutionize the process of sending money from the US to India. We make US-to-India money transfers easy, affordable, transparent and lightning-fast without any crypto complexity. Funds can be sent to a recipient’s email, and INR is delivered directly to their Indian bank account within minutes. While the backend leverages Stellar’s low-cost, high-throughput infrastructure, the frontend remains entirely Web2-native. No wallets, seed phrases, or tokens required. SendIN brings the benefits of blockchain to users who never need to know it’s there. The tech’s complex. The experience isn’t.

Previously, we were awarded an activation award to build the phase 1 of our MVP on Stellar**.** We developed a fully functional application that enables a user in the US to send money to an email address, with the receiver in India getting INR directly in their bank account — all abstracting away blockchain complexity. Key technical accomplishments include:

A complete full-stack app with secure login, auth stack & database with email ↔ wallet mapping.
Stellar SDK integration for transactions on the network & creating sponsored addresses.
End-to-end money transfer orchestration on Stellar testnet.
Partnerships & integrations with on/off-ramp providers (Kado.money, Onramp.money) to bridge USD ↔ USDC ↔ INR
Custodial key management using AWS KMS and delegated signing of transactions
Initial implementation of SEP-6 for anchor operations & SEP-12 for KYC storing and passing.
Currently accepting users on our waitlist at sendin.app

In Phase 2, we’re evolving SendIN from a functional MVP to a production-grade, corridor-scalable payments platform. A key challenge we faced in Phase 1 was the absence of a reliable Stellar anchor in India. After extensive exploration, we partnered with Onramp.money and collaborated with their team to build infrastructure for non-custodial USDC off-ramping—but the service remains SEP non-compliant and lacks full protocol alignment. On the on-ramp side, we had fully integrated with Kado.money, but following its recent acquisition and shift in services, we are now migrating to alternate providers. Phase 2 will address these limitations while expanding our infrastructure, formalizing compliance, and preparing for growth. Features / improvements in this phase include:

Build and deploy India’s first production-grade Stellar anchor to support off-ramping USDC & XLM → INR, including SEP-6, SEP-12, and SEP-31 compatibility.
Add dynamic support for multiple on-ramp providers (Banxa, Transak) with backend routing based on user location, availability, and cost.
Begin development of a Soroban smart contract layer to enable programmable disbursement logic, revenue-sharing models, and wallet restrictions. All complexity remains fully abstracted from users.
Implement passkey-based authentication and migrated to a non-custodial approach by using dfns to use MPC infra for wallets and enhancing security while maintaining seamless UX.
Continue onboarding users through the sendin.app waitlist and begin controlled mainnet rollout for transaction flows.

Soroban

Yes

Requested Budget

$67.0K

Success Criteria

Success for SendIN is defined by both measurable traction and systemic impact.

From a quantitative perspective, we aim to onboard 1000+ users across the US → India corridor within 3 months of mainnet launch, facilitating $200,000+ in cumulative remittance volume. This initial traction will validate product-market fit and prove that web2-native users can adopt a blockchain-powered backend without friction. We expect a growing share of users to be freelancers, remote workers, and NRIs with family ties in India; audiences underserved by traditional remittance channels.

However, the deeper success lies in expanding access. By removing the need for crypto wallets, seed phrases, or exchange accounts, we’re onboarding entirely new cohorts into on-chain finance. The user experience is fully abstracted; money moves on Stellar, but users stay in their comfort zone.

On the infrastructure side, success includes the launch of India’s first SEP-compliant Stellar anchor which is currently a critical missing link in the ecosystem. We are positive that we could also market out the anchor at some point, which then could potentially be adapted by a lot of on-chain products in India

Go-To-Market Plan

SendIN will launch in four strategic phases, focused on the US → India remittance corridor, followed by groundwork for UAE expansion. Each phase targets a specific user group, validates infrastructure, and incrementally scales product adoption.

Phase 1 – MVP (Early Q3 2025):
Launch a minimal product to a small group of pilot users, enabling USD → INR remittances via email. Key goals: complete real transfers using Stellar infrastructure, validate compliance (KYC, transaction flow), and gather UX feedback.

Phase 2 – Closed Beta (Late Q3 2025):
Onboard select freelancers, expats, and early adopters from partner networks. Optimize flows and transaction reliability with real-world usage. Referral-based onboarding begins. KYC and INR disbursement experience refined with small-value transfers.

Phase 3 – Full Launch US → India (Q4 2025):
Launch to the public with full Web2-native UX and Stellar mainnet infrastructure. Users can send USD to emails; INR lands in recipient bank accounts within minutes. Roll out in-app referrals, transparent pricing, and FX efficiency as core value props.

Phase 4 – UAE → India Groundwork (Q1 2026):
Begin integrating multi-currency backend logic and initiate partnerships with UAE-based payment providers. Build compliance readiness for corridor expansion.

Acquisition Channels:

Partner with freelancer platforms (e.g. Upwork, Fiverr)
In-app referral incentives for NRI users and diaspora communities
Tie-ups with alumni networks, Indian expat orgs
BD with remote payroll tools (e.g. Deel)
Content marketing on cost-saving, remittance pain points

Traction Evidence

SendIN was awarded an SCF Activation Award during SCF #27, which allowed us to build and rigorously test an almost full-featured prototype on Stellar testnet. Since then, our project has steadily validated both technical and market feasibility. To date, over 550 users have joined our waitlist, primarily Indian-origin freelancers, remote workers, and expats. This growth has been entirely organic: driven through Discord, fintech Twitter, diaspora communities, and word of mouth, without any paid marketing. For privacy and compliance reasons, we are unable to share individual user data publicly, but we maintain all relevant KYC and waitlist submissions securely on our backend.

To further validate user needs, we conducted 30+ structured interviews with potential angel users and stakeholders in the remittance space, which shaped our onboarding and product design. These conversations revealed deep dissatisfaction with existing payment rails and strong excitement for a faster / cheaper experience. We found out people don’t really care about the tech behind given that it’s powerful & safe.

On the institutional side, we've also been approached by multiple early-stage VCs and fintech scouts, intrigued by our positioning at the intersection of Web2 usability and blockchain-native infra. These conversations are ongoing but signal real interest from the capital side once we’re closer to mainnet traction.

SendIN was also invited to pitch at Stellar Meridian 2024 in London, where the project received enthusiastic feedback from members of the Stellar Development Foundation, ecosystem founders, and protocol engineers. Together, these signals, a growing waitlist, structured validation, ecosystem visibility, and investor interest, reflect early traction for a product that solves a real, painful problem in a $15B+ corridor.

Tranche 1 (Deliverable Roadmap) - MVP

Deliverable 1: Passkey-Based Auth & Delegated Signing

In Phase 2, we are transitioning from a custodial key architecture to a non-custodial model using passkey-based login and delegated signing via DFNS. This abstracts away key management while still being non-custodial, aligning with our Web2-first UX.

Implement passkey login flow with fallback support
Migrate from custodial AWS KMS to DFNS-managed non-custodial key vaults
Conduct internal testing with simulated transfers

Estimated Completion: End of Month 2
Budget: $10,000

Deliverable 2: Smart On/Off-Ramp Routing Layer

Phase 1 validated Kado and Onramp.money; Phase 2 introduces a flexible backend routing module to switch between multiple providers like Banxa/Transak based on user location, cost, and availability.

Abstract integration layer for modular ramp switching
Add support for Banxa and Transak APIs
Simulate test ramp flows in staging

Estimated Completion: End of Month 2
Budget: $10,000

Tranche 2 (Deliverable Roadmap) - Testnet

Deliverable 3: INR Anchor (Testnet Implementation)

Begin implementation of India’s first Stellar anchor to enable USDC → INR off-ramping. This testnet version will simulate bank disbursement and implement SEP standards for future production rollout.

Deploy a Polaris-based anchor server with full SEP-6 endpoints (/deposit, /withdraw, /transactions, /info)
Add SEP-31 receive-side support to handle POST /transactions for fiat disbursement requests
Simulate INR payout via dummy UPI/IMPS API integration (e.g., mock webhook to emulate success/failure flows)
Connect anchor to SendIN backend: validate deposit/withdraw orchestration and callback handling
Test end-to-end flow from Stellar USDC → anchor → simulated INR payout
Verify standard compliance using Stellar Anchor Testkit and SEP schema validators

Estimated Completion: End of Month 3.5
Budget: $15,000

Deliverable 4: Soroban Smart Contract (Prototype Layer)

Develop and integrate a lightweight Soroban smart contract to demonstrate on-chain logic for programmable disbursement, while keeping the complexity fully abstracted from end users.

Write and deploy a Soroban contract to handle basic escrow or conditional release (e.g., release only if KYC is verified)
Structure contract using invoke and auth flows that match future remittance requirements
Connect contract to SendIN backend (via Stellar SDK) to trigger on-chain logic as part of a test transaction
Demonstrate flow where a simulated remittance is conditionally held and released on-chain

Estimated Completion: End of Month 4
Budget: $12,000

Tranche 3 (Deliverable Roadmap) - Mainnet

Deliverable 5: INR Anchor (Mainnet Launch)

Deploy a production-grade, fully SEP-compliant INR anchor connected to real banking infrastructure for USDC → INR remittance.

Connect INR anchor to live payout rails (e.g., UPI/IMPS via Onramp.money or direct partner)
Securely serve SEP-6, SEP-12, and SEP-31 endpoints with production KYC policies
Integrate production KYC provider (e.g., Sumsub/IDfy) and handle encrypted data flow
List anchor in Stellar Anchor Directory with public .well-known/stellar.toml

Estimated Completion: End of Month 5
Budget: $10,000

Deliverable 6: USA → India Live

Operationalize the full remittance flow on Stellar mainnet for our core corridor: USA → India. This marks the culmination of Phase 2 with production-grade infrastructure, compliance alignment, and fiat <> crypto <> fiat integrations.

Launch US → India transfers with real users on Stellar mainnet
Complete integration of on-ramp (e.g., Banxa, Transak) and off-ramp (in-house INR anchor)
Finalize AML/KYC checks and VASP/FIU-IND compliance
Initiate early scoping for UAE corridor expansion (compliance + BD)

Estimated Completion: End of Month 5
Budget: $10,000

Team

Arsalaan Alam - CEO

Fullstack blockchain developer with 3 years of experience working in Non EVM chains
PBA (polkadot blockchain academy) graduate. 2 years of experience with Rust
Competitive Hackathonist: Won over 20 international hackathons
Was introduced to Stellar by Esteban (founder of Palta Labs) at PBA
Github: https://github.com/Arsalaan-Alam
Linkedin: https://www.linkedin.com/in/arsalaan-alam-375b281bb/
Twitter: https://x.com/arsalaanalam2

Antariksh Verma - Core Team & Fullstack dev

Fullstack dev with over 4+ years of experience in writing smart-contracts.
Worked as a software dev at 2 early stage web3 startups. One startup raised millions.
10x Hackathon winner
Received grants from Solana & Cudos to build dev-tools.
Github: https://github.com/yummyweb
Linkedin: https://www.linkedin.com/in/antarikshverma/
Twitter: https://x.com/arsalaanalam2