Client Overview
With 25 years of expertise in financial markets - particularly in payments and foreign exchange - our client recognized the growing need for a seamless Digital Wallet solution.
Problem
Traditional banking systems and online payment platforms often come with hidden transaction fees, causing users to lose money unknowingly. This issue is especially critical for frequent travellers, expatriates, international students, and immigrants who need to send or exchange money across borders.
To tackle this challenge, our U.S.-based client aimed to develop a smart digital wallet that minimizes these hidden costs while enabling instant international transfers and exchanges.
Challenges
Establishing a digital currency wallet in the U.S. comes with significant regulatory hurdles, as strict financial laws require specific licensing. Additionally, securing partnerships with banks posed another challenge, as many financial institutions remain cautious about integrating cryptocurrency solutions.
Solution
A multi-currency digital wallet that allows users to send, transfer, and exchange money globally, regardless of location. The wallet also supports cryptocurrency transactions, enhancing flexibility and accessibility.
Currently, the digital wallet facilitates money transfers to Mexico and the Philippines, with plans to expand into new markets.
To ensure secure and efficient international payments, our client has partnered with Ripple to leverage blockchain technology and cryptocurrency solutions. Users benefit from real-time FX rates, and transactions are completed instantly with enhanced security.
The digital wallet is available as a mobile app on iOS and Android, offering users a seamless and convenient way to manage their international finances.
Outcome
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