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Problem

Fintechs focused on remittances are often constrained by the need to integrate with traditional banking and correspondent banking networks. These integrations are bureaucratic and slow, creating friction in the process and limiting scalability. While some of these solutions may offer reasonable pricing, their infrastructure is too heavy to deploy quickly or on a global scale. This limits their ability to innovate and expand into new markets efficiently.

On the other hand, traditional remittance companies, such as Western Union, have established vast international networks and coverage. They can easily connect with agents, small businesses, and even smaller banks to facilitate money transfers. However, these services come at a high cost, with fees that can be prohibitive for many users. Moreover, these traditional models still rely on a series of intermediaries and complex legal setups, leading to delays and increased transaction costs.

Solution

WeFi leverages the power of blockchain technology to streamline and transform the remittance process. By removing the need for traditional banking intermediaries, WeFi enables direct, peer-to-peer transfers from A to B, significantly reducing costs and transaction times. Our solution bypasses the complex legal and infrastructural hurdles faced by traditional remittance companies, using blockchain to create a seamless and efficient transfer system.

With WeFi, users can achieve the same global reach and ease of connection as traditional remittance networks, but at a fraction of the cost. Holding our tokens is a key component of our ecosystem, granting users access to our legal framework and specialized dApp.

This dApp facilitates the direct delivery of WUSD, our stable digital currency, to recipients’ apps, ensuring fast, secure, and low-cost transfers. A critical aspect of our remittance service is that it operates through our global network of offices, where cash can be deposited and converted into WUSD. You can bring assets like USDT or even physical cash, and we will transfer it to another of our offices worldwide via WUSD. At the receiving office, the recipient can convert WUSD back into cash. This seamless integration of cash and digital assets is the essence of our remittance services.

WeFi’s model combines the best aspects of blockchain and traditional remittance systems, creating a scalable solution that can spread rapidly across the globe. By cutting out middlemen and simplifying legal setups, WeFi provides a practical, cost-effective, and scalable alternative for remittances, ready to disrupt the market and deliver real value to users and businesses alike.