Business For Community Remittances Using DeFi To Democratize Money Worldwide

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Business for Community Remittances

Using DeFi to Democratize Money Worldwide
The true purpose of DeFi, overcome central barriers and democratize
international transactions.
Consulting Team:
- Jaroslav Cuculiza
- Carlos Enrique Eguees Dubuc
- Axel Adriel Peluso Nieto
- Brian Zurita
Jaroslav Cuculiza Fintech: Spring 2022. To: Luc Faucheaux

Carlos Enrique Egues Dubuc Section 680 - 35
Axel Adriel Peluso Nieto
Brian Zurita
Version: 1.0 Date: Feb 27th, 2022

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Table of Contents
I. The Challenge ...................................................................................... 3
II. Opportunity ......................................................................................... 3
III. Market Analysis ................................................................................... 5
A. Global Market and Players: ................................................................. 5
B. Direct Competitors and Market Share: ................................................ 6
C. Target Market Segment Strategy: ........................................................ 7
IV. Costumer Description .......................................................................... 8
V. Product and service in the market ....................................................... 8
A. Cash Process: ....................................................................................... 8
B. Digital Process ................................................................................... 10
VI. The Solution ...................................................................................... 11
A. Steps of the Process: ......................................................................... 11
B. Roadmap/Future Plans ...................................................................... 13
VII. Organization and Management ......................................................... 14
A. Organizational Structure.................................................................... 14
B. Head Office Team .............................................................................. 15
C. Management team in-country........................................................... 16
VIII. Financial Projections and Metrics ...................................................... 18
A. Assumptions: ..................................................................................... 18
B. Financial Statement: .......................................................................... 18
IX. Appendixes ........................................................................................ 20
X. Reference .......................................................................................... 24

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Business for Community Remittances

Using DeFi to Democratize Money Worldwide
The true purpose of DeFi, overcome central barriers and democratize

international transactions.
I. The Challenge
The current infrastructure for cross-border remittances is a relic from a
previous era. The high cost associated with the existing legacy systems for
international transactions has opened an opportunity to capitalize on the current
system's inefficiencies. Currently, there is no quick, cost-effective way of securely
sending digital remittances across borders.
A remittance of an international transaction between two peers, in most
cases, can be in the form of a payment for a good or a service or the form of a gift.
The two main channels of sending international remittances are banks and money
transfer operators. The fundamental issues associated with the two central
international remittances are high transaction fees, long transaction periods, lack
of transparency in exchange rates, and reliance on manual processes and physical
locations.
II. Opportunity
Given the shortcomings in traditional banking processes, this is the key to
opening yourself to the world. It will allow you to receive and make international
payments, get immediate access to capital, and cash out from an ATM.
Every person will move money across 200 countries and 150 currencies. An
innovative payments platform is built on top of the outdated banking
infrastructure, separating the end-user from the complexity of cross-border
payments.

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We propose a unique market solution, using stable coins to send the money
through a dApp.
An example
Made the remittances between countries cheaper. Today, the customers pay
a fee to send the money between 3% to 7%, and when the receiver cashes the
money out, the exchange rate is 5% less. Resulting in a total impact of ~ 10%, that
person will only receive ~90%.
Amount sent and received by one remittance
Average Remittance Send $150.00
Fee of company (3% - 7%) $7.50 5.00%
Remittance without Fee $142.50
Exchange Rate Impact $7.66 5.38%
Amount Received $134.84

% Of total sent 89.89%
From the point of view of developed countries, this amount could be meager.
Still, you must consider that the average minimum wage in Latin America and the
Caribbean is US$ 265 (appendix for information by countries).

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III. Market Analysis
A. Global Market and Players:

According to the World Bank, there has been extensive growth worldwide
with potential for further expansion. Specifically, there has been a 7% growth and
$589 billion in total transactions in underdeveloped countries in 2021. This is a
strong indicator of potential growth even after the industry survived the global
recession. Latin America was the only region in the world to see a 1% increase in
2020, while it was predicted to fall close to 20%.
Remittances Evolution
Real Migrant remittance inflows (US$ Bn) Forecast Migrant remittance inflows (US$ Bn) Anual Growth
1,400 30%
1,200 25%
20%
1,000
15%
800
US$ BN
10%
600
5%
400
0%
200 -5%
0 -10%
Source: World Bank staff calculation based on data from IMF Balance of Payments Statistics database and
data releases from central banks, national statistical agencies, and World Bank country desks.

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There will be 15.6 million users by 2025 and close to $1.3 trillion in value by
2030. The leading players in the remittance market can be divided into two
different groups: Banks and MTOs. The main international players are JP Morgan
Chase Co, Bank of America, Citibank, and Wells Fargo in the banking sector. While
in the money transfer sector, the leading players are: Western Union, Transferwise,
Finablr, Ria, Remitly, and MoneyGram.
Source: SaveOnSend
B. Direct Competitors and Market Share:

We solely want to focus on digital money transfers from the USA to Latin
America and not banking. Our main competitors will be money transfers operators
operating in this geographic area. So, our main competitors are Western Union,
TransferWise, Xoom, and MoneyGram. Below, a graph shows how the money
transfer volume is divided amongst these main competitors.

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Source: SaveOnSend
C. Target Market Segment Strategy:
Market needs Market trends Market growth

• Increase digitalization
• Reduce the transaction of the transactions. • Based on digitalization.
cost. • Use of payment • “War” against the
• Received the money as products for using the cash.
soon as possible. money. • New type of use the
• Could send and receive • Use blockchain for money.
in the mobile. democratizing finance.

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IV. Costumer Description

Low-income migrant workers based in the US are sending funds
internationally. The pandemic caused an increase in the number of remitting. This
was partly due to the ease of any distressed friends or family, and most migrant
workers held essential jobs, thus having a continuous income.
V. Product and service in the market

It exist two types of business model in the industry, Cash and Digital, that will
be described as the company having to have money in the country that receives
the money. In the world, the amounts sent and received are the same. So, in that
case, both are sum zero results.
There are two types of countries the sender and receiver. In the details of
each country, the mix of money sent and received is different. For example, a
sender country is the United States (80% of the funds moved in remittance is sent).
A receiver country is Guatemala (80% of the money transferred in remittance is
received).
Because of this, the remittance company must have the funds to pay the
remittances in the receiver country.
One of the factors that will impact the commission fee charged to the
transaction is when the receiver could have the money. If the receiver needs the
funds today, will the fee amount be the highest?
The two main channels for remittance transfers are Bank and Money
Transfer Operators (MTO).
A. Cash Process:
The process is based on the cash economy. The sender goes with cash from
his work to a remittances company. Typically, the remittance company does not
have a brick-and-mortar store; it is a franchise. The sender gives the money to the

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teller; the remittance system provides the customer’s fee. The sender has two
options: discount the value of the money sent or pay an extra amount.
When processing the transactions, the teller asks the sender for his bio
information and the receiver. Then the teller gives the sender the transaction
invoice is where the transaction code is. The transaction code is needed to
withdraw money. The sender provides the code to the receiver. Depending on the
country’s KYC laws the bio information asked to change.
The receiver with the code in hand goes to a remittances store (could be own
or third-party) to ask for the money. In third-party stores, the frequent problem is
that the store does not have US dollars, they primarily have the currency of the
country. Therefore, the only way that the person could ask for the money is the
country’s currency. In which the platform of the remittance company defines the
FX.

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B. Digital Process
This process is built over a transaction from account to account. The sender
and receiver must have an account in a bank. In this case, the sender and the
receiver must enroll in the app with the information of the account and an email.
Once the two sides are enrolled, the sender goes to the app, defines the
amount to send, and inputs the receiver’s email. At this moment, the sender and
receiver receive an email with the transaction. The fee charged to the sender will
be added to the amount sent.
The receiver receives the money in the currency of the account included. If
the account is in the national currency, the digital remittance company will
exchange and then deposit the funds in the account. If the account is in the same
currency as the one sent, the receiver will receive the amount sent.

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VI. The Solution

The solution proposed will use blockchain technology to satisfy the
customer's needs, low cost, and transaction online (24/7).
In the solutions, there are three main actors:
• Founders. The one that puts the money as an investment and receives
compensation for that, which have based the stable coins
• Sender: The person that sends the funds which use stablecoins to send
the money
• Receiver: The person that receives the money and uses it. Using it is
transferring to a bank account, using the wallet to buy things, and
withdrawing money in an ATM.
The solution is based on using four (04) components.
• Smart contracts: To be signed by the person of the community that put
the funds for paid the remittance, where will be defined yield or
commissions that the funding person will
• Stable coins: The way to break the community’s fear because of the
volatility of crypto.
• Use of dAPPS: The decentralized application will be based on the miner’s
structure of the crypto and will be secure by proof of stake.
• External Owned Account (EOA): The account is used to buy the stable coin
and deposit the money received.
Therefore, this model benefits the investor by a fixed rate, paying a high yield
for the money put in the ecosystem, solving the problem of moving the funds
between countries, and sharing the profits with the community. Having a balance
of funds 80% of put by investor and 20% put by the company.
A. Steps of the Process:

Let us define each of the components in each step.

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1. How will the accounts be funded in the countries for paid remittances:
In this step, we will ask the community (investors) to invest in stablecoins

based on a monthly fixed return for using his money.
a) The investors buy our stablecoins, 1 US = 1 Coin.

b) The stable coins would pay a monthly yield for that money put.
c) If the earnings stay in the wallet, the investors could earn a yield over that
money due to that being used to pay the remittances.
d) That money will be used to pay remittances in the countries
e) For that investment, the investors will have a Smartcontract.
f) The stable coin and earnings could be seen in the Wallet.
g) In this first MVP, the Stablecoins could be bought with a credit card, prepaid
card, debit card, and bank account.
2. How will the remittances be sent and received:
a) The sender and receiver create an account in the wallet for sending money,
using his email and mobile number.
b) The way of sending money will be using stable coins
c) When the sender inputs the amount of money to be sent, there will be a
charge to the EOA defined.
d) The sender will buy stable coins considering the fee's charge for sending the
money.
e) The sender decides to whom to send the stable coins.
f) The sender could get the information from his contact list, since the mobile
number will be included and validated, this is the way to send the money.
g) The receiver sees the money received in his wallet.
h) To withdraw the money could be a deposit in an account that he selected,
use the wallet to buy things in stores, and go to an ATM and pick up the
money.
3. Compensation of money sent and received by country:

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a) Based on whether the country is a sender or receiver.

b) If the money is a sender, the excess money of each day that is invested
needed to pay remittances will be sent to the receiver country.
c) Every 12 hours there will be compensation, which is the balance between
money sent and received), there are three situations:
I. Positive balance: More money in the fund than needs to be paid.
II. Zero Balance: Same money sent and received.
III. Negative balance: More money paid in the fund. In this case, the
company must fund the money spent directly.
d) Knowing the balance by the investor, the account is rebalanced in all the
country.
e) With the previous 12 hours of the transaction, we forecast the movement of
the next 24 hours to fund the accounts.
B. Roadmap/Future Plans
Once deployed and have transactions with customers, there appears the
next vertical.
Virtual Exchange rate

Payment Product Bill Payments
house
Prepaid card Give the customer

Includes the
a better exchange
service companies
rate that the one
bills and top up
they find in the
Debit Card prepaid cel phone.
street

Brian Zurita

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VII. Organization and Management
A. Organizational Structure
Is define a functional organization structure in a level different than C-suite,
due that the resources and positions will be
To manage the remittance operation, we need to have one central structure.
The main structure will define the company strategy corporate governance, contact
the investors and shareholders, and support the country's operations.
De organizational structure proposes for the company is:
Board
Legal Risk
CEO
COO CFO CTO
Countries Treasury Finance Development UAT
Marketing Accountant Investment Operations
In the case of the country operation, we will have a very light structure that
will deploy the strategy in the country, manage the local operation, execute legal
country legal definitions, and define the tax country tax strategy.
De organizational structure for the country will be:

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Country
Head
Finance &
Treasury Commercial Marketing Legal
Accountant
B. Head Office Team
The four founders will be board members, including the investors and
shareholders. The board will report to areas responsible for the law and risk
execution in every company’s definition. The two areas are
1. Legal: Have the HQ and countries implement the legal, compliance, and
regulatory definition.
2. Risk: Accountable for the credit, operational, and technological risk.
Define the cyber security process to protect the customers and the
company.
The four founders are part of the management team, and they will be
appointed as:
1. CEO: Responsible for accomplishing the net profit and defining the
business strategy.
2. COO: Responsible for the country's operations and marketing strategy
3. CFO: Responsible for tax, financial, and investment strategy
4. CTO: Responsible for operational back-office and IT.
In 5 years, team members will be included in different periods that will be
managers and analysts, the areas that will be developed.
1. Below the COO
• Country operations: Responsible for the net profit of each country

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• Marketing: Define the brand, communication, and advertising strategy.

Identify the customers' needs and insight into developing new products.
Oversight into the product strategy.
2. Below the CFO
• Treasury: Have a positive balance in each country for having enough
money to pay the remittance.
• Finance: Evaluate the company's financial performance and identify cost
and income efficiency.
• Accountant: Define the tax strategy and maintain the ledgers aligned with
the country's laws.
• Investment: Generate profit through investment in equity, stock, and
crypto. Manage the stable coin strategy.
3. CTO
• IT Development: In charge of constant upgrade of the platform and cyber
security
• UAT: “Go” or “No Go” for impact in the platform the new develops, that
must be aligned with the users’ definitions
• Operations: Conduct the settlement, balance, supplies, among other
back-offices activities.
The total headcount at the year's end and the related expenses are.
Head Office Year 1 Year 2 Year 3 Year 4 Year 5
Total Headcount 10 33 38 52 66
Total Payroll (US$ '000) $387 $1,173 $3,853 $5,263 $6,738
C. Management team in-country

The country will report to the country head and each area in the country to
the area in charge in the HQ to completely align with the corporate governance
definitions. The departments for each operation will be

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• Country Head: Responsible for the country's profit.

• Finance & Accountant: Responsible of find cost and income efficiency
and tax country strategy
• Treasury: Fund management in the country, looking for profit on
investments
• Commercial: Responsible for increasing the number of customers and
transactions in each country
• Marketing: Execute the brand, communication, and advertising strategy
• Legal: Responsible for executing the law, compliance, and regulatory
country laws.
Country Structure HC Salary US$
Country Head 1 $ 7,000
Finance & Accountant 1 $ 3,000
Treasury 1 $ 3,000
Commercial 1 $ 3,000
Marketing 1 $ 3,000
Legal 1 $ 3,000
Total 6 $ 22,000
The deployment of the country will be in phases. At the end of the year the
total number of countries will be:
Year 1 Year 2 Year 3 Year 4 Year 5

Countries at the end of each year 1 3 5 7 9
Expense per year of countries (US$ '000) $88 $592 $1,194 $1,857 $2,589

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VIII. Financial Projections and Metrics
A. Assumptions:
Based on the market remittances growth that was 8% from 1981 up to now,
we have developed the following assumptions
1. 15% of monthly customers increase

2. US$ 150 of average remittances
3. Two transactions per customer per month
4. 1% of fee over the transaction charge to the customers.
5. 3% annually of the cost of the fund paid to the person that buys the stable
coin.
6. 10% of the revenue will be considered as the operating costs.
B. Financial Statement:
Considering these assumptions and the growth of the market, based on the
average and a regression made, the results at the end of the 5th year will be
US$ Bn
5year world forecast $ 1,161
Volumen Proyect $ 12
Market Share 1.00%
The results of the company will be

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Customers per month sending ('000) 8 41 218 1,165 6,231
Transactions per customers (units) 2 2 2 2 2
Total Transactions ('000) 50 507 2,714 14,520 77,685
US$ mi l l i ons
Volume $7 $76 $407 $2,178 $11,653

Revenue $0.1 $0.8 $4.1 $21.8 $116.5
Fund cost $0.0 $0.2 $1.0 $5.4 $29.1
Staffing $0.5 $1.8 $5.0 $7.1 $9.3
Starting $0.1 $0.0 $0.0 $0.0 $0.0
Operating $0.0 $0.1 $0.4 $2.2 $11.7
Growth $2.9 $4.4 $4.4 $4.4
Total Cost $0.6 $2.0 $6.5 $14.7 $50.1
Operating Profit / Cash Flow ($0.6) ($1.3) ($2.4) $7.0 $66.4
Growth 128% 89% -393% 844%
0.50 1.50 2.50 3.50 4.50

PV of Cash Flow ($0.5) ($1.1) ($1.9) $5.0 $43.3
Discount Rate 10%

PV DCF $ 44.8

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IX. Appendixes
Appendix 1: Minimum monthly wage in selected Latin American countries in
2022(in U.S. dollars)
Average $265
Venezuela $2
Brazil $214
Argentina $233
Peru $233
Colombia $244
Mexico $256
Panama $365
Chil $411
Ecuador $425
$0 $50 $100 $150 $200 $250 $300 $350 $400 $450

US$
Year evolution of remittances

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Appendix 2: Annual Growth:

Real Migrant Forecast Migrant
Year Anual Growth remittance inflows remittance inflows
(US$ Bn) (US$ Bn)
1980 0% 36
1981 -2.59% 35
1982 3.31% 36
1983 1.49% 37
1984 -3.33% 35
1985 -2.28% 35
1986 17.08% 40
1987 20.66% 49
1988 7.26% 52
1989 4.56% 55
1990 11.30% 61
1991 3.67% 63
1992 11.06% 70
1993 -0.12% 70
1994 8.34% 76
1995 15.60% 88
1996 4.69% 92
1997 17.07% 108
1998 -2.23% 105
1999 15.10% 121
2000 5.71% 128
2001 8.99% 139
2002 17.27% 164
2003 21.39% 199
2004 14.57% 227
2005 25.12% 285
2006 15.08% 328
2007 20.52% 395
2008 15.40% 456
2009 -5.00% 433
2010 9.29% 473
2011 12.04% 530
2012 3.66% 549
2013 5.98% 582
2014 4.80% 610
2015 -1.34% 602
2016 -0.79% 597
2017 7.14% 640
2018 8.48% 694
2019 3.66% 719
2020 -2.43% 702
2021 8.64% 763
2022 8.68% 829
2023 8.72% 901
2024 8.76% 980
2025 8.80% 1,066
2026 8.84% 1,161

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Appendix 3: Regression was done to estimate the forecast growth.

Regression Statistics
Multiple R 0.0630
R Square 0.0040
Adjusted R Square (0.0209)
Standard Error 0.0792
Observations 42.0000
ANOVA
df SS MS F Significance F
Regression 1 0.00 0.00 0.16 0.69
Residual 40 0.25 0.01
Total 41 0.25
Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0%
Intercept (0.7281) 2.02 (0.36) 0.72 (4.81) 3.35 (4.81) 3.35
Migrant remittance inflows (US$ million) 0.0004 0.00 0.40 0.69 (0.00) 0.00 (0.00) 0.00
Appendix 4: Headcount by area and positions at the end of each year for the
Head Office
Head Office Year 1 Year 2 Year 3 Year 4 Year 5
CEO - Founder 1 1 1 1 1
COO - Founder 1 1 1 1 1
CFO - Founder 1 1 1 1 1
CTO - Founder 1 1 1 1 1
Marketing Manager 0 1 1 1 1
Marketing Analyst 1 1 1 1 1
Treasury Manager 0 1 1 1 1
Treasury Analyst 0 1 1 2 3
Finance Manager 0 1 1 1 1
Finance Analyst 0 1 1 2 3
Accountant Manager 0 1 1 1 1
Accountant Analyst 1 2 2 3 4
Developer Manager 0 1 1 1 1
Developer Analyst 1 2 2 3 4
UAT Manager 0 1 1 1 1
UAT Analyst 1 2 2 3 4
Operation Manager 0 1 1 1 1
Operation Analiyst 1 2 2 3 4
Investment Manager Traditional Asset0 1 1 1 1
Investment Analyst Traditional Asset0 1 1 2 3
Investment Manager BlockChain Asset 0 1 1 1 1
Investment Analyst BlockChain Asset0 1 1 2 3
Legal 1 2 2 3 4
Others 0 5 10 15 20
Total Headcount 10 33 38 52 66

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Appendix 5: The total cost of Head office salary

CEO - Founder $ 60 $ 90 $ 135 $ 203 $ 304

COO - Founder $ 60 $ 90 $ 135 $ 203 $ 304
CFO - Founder $ 60 $ 90 $ 135 $ 203 $ 304
CTO - Founder $ 60 $ 90 $ 135 $ 203 $ 304
Marketing Manager $ - $ 15 $ 180 $ 180 $ 180
Marketing Analyst $ 21 $ 84 $ 84 $ 84 $ 84
Treasury Manager $ - $ 15 $ 180 $ 180 $ 180
Treasury Analyst $ - $ 7 $ 84 $ 168 $ 245
Finance Manager $ - $ 15 $ 180 $ 180 $ 180
Finance Analyst $ - $ 7 $ 84 $ 168 $ 245
Accountant Manager $ - $ 10 $ 120 $ 120 $ 120
Accountant Analyst $ 15 $ 65 $ 120 $ 180 $ 235
Developer Manager $ - $ 15 $ 180 $ 180 $ 180
Developer Analyst $ 30 $ 130 $ 240 $ 360 $ 470
UAT Manager $ - $ 15 $ 180 $ 180 $ 180
UAT Analyst $ 30 $ 130 $ 240 $ 360 $ 470
Operation Manager $ - $ 15 $ 180 $ 180 $ 180
Operation Analiyst $ 30 $ 130 $ 240 $ 360 $ 470
Investment Manager Traditional
$ Asset
- $ 15 $ 180 $ 180 $ 180
Investment Analyst Traditional
$ Asset- $ 7 $ 84 $ 168 $ 245
Investment Manager BlockChain
$ Asset
- $ 15 $ 180 $ 180 $ 180
Investment Analyst BlockChain
$ Asset
- $ 7 $ 84 $ 168 $ 245
Legal $ 21 $ 91 $ 168 $ 252 $ 329
Others $ - $ 25 $ 325 $ 625 $ 925
Total Payroll (US$ '000) $387 $1,173 $3,853 $5,263 $6,738

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X. Reference
Bloomberg. (n.d.). Bloomberg. Retrieved February 27, 2022, from
https://www.bloomberg.com/tosv2.html?vid=&uuid=0b012cdd-9820-11ec-
bd90-
416b77467267&url=L25ld3MvYXJ0aWNsZXMvMjAyMS0xMS0xNy9nbG9iY
WwtcmVtaXR0YW5jZXMtdG8tc2V0LXJlY29yZC1pbi0yMDIxLXdpdGgtbGF0a
W4tYW1lcmljYS1qdW1w
devex.com. (n.d.). Devex. Retrieved February 27, 2022, from
https://www.devex.com/news/anticipated-remittance-dive-bucked-by-
latin-america-and-the-caribbean-98880
Perri, J. (2021, November 2). Wise captures growing share of money transfers
from U.S. consumers. Bloomberg Second Measure. Retrieved February 27,
2022, from https://secondmeasure.com/datapoints/money-transfer-
services-wise-western-union-moneygram-xoom-
competitors/#:%7E:text=Western%20Union%20had%20the%20highest,the
se%20companies%20in%20September%202021.
Romaldini, M. A. F. C. (2017, October 18). How Is the International Money
Transfer Market Evolving? Toptal Finance Blog. Retrieved February 27,
2022, from https://www.toptal.com/finance/market-research-
analysts/international-money-transfer
S. (2021, November 7). Banks And Money Transfer: Sleeping Giants? SaveOnSend
Blog. Retrieved February 27, 2022, from
https://www.saveonsend.com/bank-money-transfer/
Statista. (n.d.). Digital Remittances - Worldwide. Retrieved February 27, 2022,
from https://www.statista.com/outlook/dmo/fintech/digital-
payments/digital-remittances/worldwide
Statista. (2022a, February 2). Latin America: minimum monthly wages in 2022, by
country. https://www.statista.com/statistics/953880/latin-america-
minimum-monthly-wages/

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Statista. (2022b, February 2). Latin America: minimum monthly wages in 2022, by
country. Retrieved February 27, 2022, from
https://www.statista.com/statistics/953880/latin-america-minimum-
monthly-wages/
World Bank Group. (2021, November 17). Remittance Flows Register Robust 7.3
Percent Growth in 2021. World Bank. Retrieved February 27, 2022, from
https://www.worldbank.org/en/news/press-
release/2021/11/17/remittance-flows-register-robust-7-3-percent-growth-
in-
2021#:%7E:text=After%20falling%208.6%20percent%20in,by%203.8%20per
cent%20in%20202
Zahair, A. (2021, March 1). Top 10 International Money Transfer Companies You
Need to Know. Wealth and Finance International. Retrieved February 27,
2022, from https://www.wealthandfinance-news.com/top-10-
international-money-transfer-companies-you-need-to-know/

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Business for Community Remittances

Jaroslav Cuculiza Fintech: Spring 2022. To: Luc Faucheaux

Version: 1.0 Date: Feb 27th, 2022

Jaroslav Cuculiza Fintech: Spring 2022. To: Luc Faucheaux

Version: 1.0 Date: Feb 27th, 2022

Business for Community Remittances

The true purpose of DeFi, overcome central barriers and democratize

Jaroslav Cuculiza Fintech: Spring 2022. To: Luc Faucheaux

Version: 1.0 Date: Feb 27th, 2022

Amount sent and received by one remittance

Average Remittance Send $150.00

Fee of company (3% - 7%) $7.50 5.00%

Remittance without Fee $142.50

Exchange Rate Impact $7.66 5.38%

Amount Received $134.84

Jaroslav Cuculiza Fintech: Spring 2022. To: Luc Faucheaux

Version: 1.0 Date: Feb 27th, 2022

III. Market Analysis

A. Global Market and Players:

Jaroslav Cuculiza Fintech: Spring 2022. To: Luc Faucheaux

Version: 1.0 Date: Feb 27th, 2022

B. Direct Competitors and Market Share:

Jaroslav Cuculiza Fintech: Spring 2022. To: Luc Faucheaux

Version: 1.0 Date: Feb 27th, 2022

C. Target Market Segment Strategy:

Market needs Market trends Market growth

Jaroslav Cuculiza Fintech: Spring 2022. To: Luc Faucheaux

Version: 1.0 Date: Feb 27th, 2022

IV. Costumer Description

V. Product and service in the market

Jaroslav Cuculiza Fintech: Spring 2022. To: Luc Faucheaux

Version: 1.0 Date: Feb 27th, 2022

Jaroslav Cuculiza Fintech: Spring 2022. To: Luc Faucheaux

Version: 1.0 Date: Feb 27th, 2022

Jaroslav Cuculiza Fintech: Spring 2022. To: Luc Faucheaux

Version: 1.0 Date: Feb 27th, 2022

VI. The Solution

A. Steps of the Process:

Jaroslav Cuculiza Fintech: Spring 2022. To: Luc Faucheaux

Version: 1.0 Date: Feb 27th, 2022

In this step, we will ask the community (investors) to invest in stablecoins

a) The investors buy our stablecoins, 1 US = 1 Coin.

2. How will the remittances be sent and received:

3. Compensation of money sent and received by country:

Jaroslav Cuculiza Fintech: Spring 2022. To: Luc Faucheaux

Version: 1.0 Date: Feb 27th, 2022

a) Based on whether the country is a sender or receiver.

Virtual Exchange rate

Prepaid card Give the customer

Jaroslav Cuculiza Fintech: Spring 2022. To: Luc Faucheaux

Version: 1.0 Date: Feb 27th, 2022

VII. Organization and Management

COO CFO CTO

Countries Treasury Finance Development UAT

Marketing Accountant Investment Operations

Jaroslav Cuculiza Fintech: Spring 2022. To: Luc Faucheaux

Version: 1.0 Date: Feb 27th, 2022

B. Head Office Team

Jaroslav Cuculiza Fintech: Spring 2022. To: Luc Faucheaux

Version: 1.0 Date: Feb 27th, 2022

• Marketing: Define the brand, communication, and advertising strategy.

Total Payroll (US$ '000) $387 $1,173 $3,853 $5,263 $6,738

C. Management team in-country

Jaroslav Cuculiza Fintech: Spring 2022. To: Luc Faucheaux

Version: 1.0 Date: Feb 27th, 2022