Stellar Community Fund

By Paychant

Paychant

SCF #16

$50.0K

Legacy v4.0 Award

Awarded

Paychant is a payment gateway that helps Africans on/off-ramp right inside any crypto-enabled product using local payment options.

Products & Services

Paychant is developing a standard fiat on-and-off ramp solution that supports all of Africa's traditional payment rails. The Problem: As of today, it’s challenging for users in Africa to onramp and offramp directly on any self-custodial wallets or dApps using their local payment methods like mobile money wallet, USSD, or local bank transfer, because most of the global fiat on-ramping solutions mainly focus on ACH, SEPA, and credit card payments solution and none of them support the traditional payment rails in Africa. Solution: Paychant solves this problem by providing a simple and customizable fiat on-and-off-ramp SDK that supports a broad range of localized payment methods in Africa, which are mobile money wallet, USSD, or local bank transfer, allowing users in Africa to easily on-ramp and off-ramp right inside any self-custodial wallets, DEX, dApps, or NFT platforms. What we want to build on Stellar: Through our ramp SDK, we want to connect XLM and USD Coin (Stellar) to all of Africa's traditional payment rails, allowing African users to seamlessly on-ramp and off-ramp directly on all self-custodial wallets, DEX, or dApps that are built on Stellar.

Requested Budget

$50.0K

Team

Paychant is founded by Moses and Gabriel, brothers and seasoned engineers, bring over 14 years of combined experience in the tech industry. In 2017, they played a pivotal role as founding members of Tigereum, a London-based blockchain remittance startup. At Tigereum, they led the development of an AI-powered chatbot that enabled cross-border remittances to Africa via popular social media platforms like Facebook, Telegram, and Skype. Their work at Tigereum provided invaluable insights into the practical applications of blockchain in solving real-world payment challenges.