SurgePay Wins Stellar Grant For Blockchain Payments
🚀 Big Win for SurgePay
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SurgePay is a Lagos-based fintech building a unified blockchain platform for instant payments across Africa.
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They just secured a six-figure award through the Stellar Community Fund.
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The Stellar Development Foundation provided the capital through its open application and community voting initiative.
💸 Moving Money is Hard
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Moving money across African borders is usually slow and expensive. Standard remittance fees often hit $15 to $60 per transfer. Plus, it can take 5 days for funds to clear.
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Blockchain solutions like Stellar, settle international transactions in seconds.
⚙️ Here’s How
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SurgePay is using Stellar as its the backbone to build stabecoin-backed solutions, allowing users to pay for global services
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As the nature of blockchain, users enjoy all the speed and transparency of web3.
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The math is simple. They use a flat cost structure to keep fees low for every transaction.
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It is working. The startup processed over $150,000 in transaction volume during in the last 2 months.
📈 Scaling Up
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New features are coming soon. Look for virtual dollar cards and specialized invoicing tools for companies.
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They also plan to add crypto-backed investment features for users.
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The goal is ambitious. They plan to reach $100 million in annual volume by 2027.