{"type": "project", "title": "Tokpay ", "logoImg": "bafkreih2u3ubiimiz4phr2llwgzqt5eopwcl6avmctd4vfbcxqjappkjgu", "website": "https://Tokpay.xyz", "bannerImg": "bafkreibo7kajvpg5g5c4vu5mgxnhyxtzahrdb5cjm5bftktxw6e2nwwsjy", "createdAt": 1729463561320, "userGithub": "Ayoseun", "credentials": {}, "description": "Tokpay is enhancing cross-border financial transaction flows for the inter-connected world by re-inventing the legacy-swift correspondent banking system using stablecoins to enable Africans move cash into Short dated US-treasuries direct from mobile money wallets and local payment methods in Africa without the cost of moving money.\nThis unlocks a $2.4t market opportunity.\nOur features include:\n* Send Money: send money feature allows you to send money to any Mobile Money number in Africa at near zero fee, making cross-border payments and commerce instant, Cheaper and reliable without sacrificing FX conversion.\n* Save : Tokpay is a dollar denominated account to help you hedge inflation and local currency devaluations.\n* Invest in US Treasuries: put your money to work by investing in US short-term treasuries, backed by the full faith and credit of the U.S. Federal Government.\n* \u2060Sell T-bills Sell your T-Bills at any time without trading fees on the secondary market.\nCase scenario\none of the bank clients lost their money sending US$ to Zambian kwacha,\n-The client initiated a USD to Zambia payment of $750.\n-Bank initiated Transfer via swift corespondent banking system.\n-Money was sent to a correspondent bank in New York.\n-Transfered to a correspondent bank in Africa.\n-Then it was Transfered to a correspondent bank in Zambia.\n-And then to a Local Bank in Zambia.\n-Local Bank could not accept the transfer (Tracking details mismatch) and rejected it.\n-Money then had to be returned to the original bank via all the intermidiary banks.\n-A couple of weeks later, the client received $250 back.\nWhether moving money into money market funds or simply just making a payment, this is the process.\n\nThe web of correspondent banks is not free, across each step a fee is applied, making Cross-border transaction flows slow, expensive and unreliable.\nTokpay is live on the Celo chain, and settlements are done on the Ethereum network\nTreasury bill contract address: https://etherscan.io/token/0xaa9dac73de8948e516d4c4b6001402d3b6ef9cd9\nProgress to date:\n$7,000,000 in short term treasuries issued since July 2024.\n$8,000,000 in total Tx volume on the platform.\nDemo: https://youtube.com/shorts/FaIJSGKJsr0?si=cXRgduWcH3RhKF6w", "logoImgData": {}, "bannerImgData": {}, "projectGithub": "Tokpay-finance", "projectTwitter": "Tokpayapp"}
Tokpay 
Tokpay is enhancing cross-border financial transaction flows for the inter-connected world by re-inventing the legacy-swift correspondent banking system using stablecoins to enable Africans move cash into Short dated US-treasuries direct from mobile money wallets and local payment methods in Africa without the cost of moving money.
This unlocks a $2.4t market opportunity.
Our features include:
* Send Money: send money feature allows you to send money to any Mobile Money number in Africa at near zero fee, making cross-border payments and commerce instant, Cheaper and reliable without sacrificing FX conversion.
* Save : Tokpay is a dollar denominated account to help you hedge inflation and local currency devaluations.
* Invest in US Treasuries: put your money to work by investing in US short-term treasuries, backed by the full faith and credit of the U.S. Federal Government.
* ⁠Sell T-bills Sell your T-Bills at any time without trading fees on the secondary market.
Case scenario
one of the bank clients lost their money sending US$ to Zambian kwacha,
-The client initiated a USD to Zambia payment of $750.
-Bank initiated Transfer via swift corespondent banking system.
-Money was sent to a correspondent bank in New York.
-Transfered to a correspondent bank in Africa.
-Then it was Transfered to a correspondent bank in Zambia.
-And then to a Local Bank in Zambia.
-Local Bank could not accept the transfer (Tracking details mismatch) and rejected it.
-Money then had to be returned to the original bank via all the intermidiary banks.
-A couple of weeks later, the client received $250 back.
Whether moving money into money market funds or simply just making a payment, this is the process.

The web of correspondent banks is not free, across each step a fee is applied, making Cross-border transaction flows slow, expensive and unreliable.
Tokpay is live on the Celo chain, and settlements are done on the Ethereum network
Treasury bill contract address: https://etherscan.io/token/0xaa9dac73de8948e516d4c4b6001402d3b6ef9cd9
Progress to date:
$7,000,000 in short term treasuries issued since July 2024.
$8,000,000 in total Tx volume on the platform.
Demo: https://youtube.com/shorts/FaIJSGKJsr0?si=cXRgduWcH3RhKF6w
Tokpay 