Directory/Fonbnk, Inc.
Fonbnk, Inc.

Fonbnk, Inc.

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Category
  • DeFi Apps
  • Ecommerce
  • Marketplaces
  • Market Makers
  • Payments
Use Cases
  • Borrowing and Lending
  • E-commerce Payments
  • Payment Settlement
  • P2P Remittances
  • US Dollar Access
Circle Products Used
  • CCTP
  • USDC
Blockchains Supported
  • Algorand
  • Arbitrum
  • Avalanche
  • Base
  • Celo
On/Off-Ramps
  • Yes
Platform
  • Web
Free/Paid
  • Free
Region
  • APAC
  • LATAM
  • Middle East and Africa
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Fonbnk, Inc.

Monetize digital goods and services in emerging markets with risk-free stablecoin settlements using our low/no-code dApps and APIs.

Vision

Fonbnk aims to unlock Web3’s potential for billions in the Global South by connecting mobile-generated payments with cryptocurrency. Our platform is designed to drive inclusion and empower developers to build the future of decentralized applications.

Fonbnk Company Description

Fonbnk is transforming the financial landscape in emerging markets by providing innovative solutions that bridge mobile-first, cash-based economies to the Web3 ecosystem. Our mission is to enable developers to monetize digital goods and services through risk-free stablecoin settlements, paving the way for financial inclusion and innovation across the Global South.

Core Proposition

Fonbnk leverages the power of stablecoins and carrier communication protocols to turn prepaid mobile-generated payments into crypto assets. Our low and no-code decentralized applications (dApps) and APIs simplify cryptocurrency integration, making it accessible for developers to build and deploy decentralized applications in regions ready for financial evolution.

Market Opportunity

With over 8 billion prepaid SIM card holders worldwide, Fonbnk taps into a vast market. It empowers users to use mobile payments like airtime, mobile money, and bank transfers as gateways to Web3. If users can top up their phones, they can now access the benefits of decentralized finance (DeFi) and the broader digital economy.

Regulatory Framework

Fonbnk operates under FinCEN's Prepaid Exemptions, maintaining rigorous compliance standards without traditional Money Services Business (MSB) registration constraints. Our comprehensive Know Your Customer (KYC), Anti-Money Laundering (AML), and transaction monitoring protocols ensure secure and reliable operations.

Ecosystem Integration

Fonbnk partners with leading non-custodial wallets, projects, and protocols, including Avalanche, Brave, Celo, Coinbase Wallet, and more. These partnerships enhance Fonbnk's reach and capabilities across Sub-Saharan Africa, with plans to expand into Latin America and Southeast Asia.

Business Architecture

Fonbnk functions as a Web3 orchestration layer, matching local OTC market makers with market takers or wallet holders. Using on-chain and cross-border swaps, our platform facilitates fiat-to-crypto conversion from prepaid mobile credits to stablecoins. With an algorithmic combination of best price, liquidity, and availability, Fonbnk ensures reliable on and off-ramping services for its users.

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