CATEGORY: End User Experience, Social Impact, Business Service Solution
NAME: Alexi | Lane
APPLICANT TYPE: Company
Everex develops blockchain based p2p and micro lending platform based on smart contract-built stable coin wallet.
Starting with cross-border remittances and p2p/retail payments, we collect and analyze user financial and personal data as a basis for blockchain based credit scoring and lending offerings. By implementing this solution Everex applies to financial inclusion, access to capital in developing markets, including financial applications for islamic banking.
Our proprietary technology provides an open system for the issuers to underwrite fiat currencies on Ethereum blockchain in independent smart contracts for stable value payments. Those are applicable from the day one to:
* cross-border remittances;
* currency exchange and FX trading settlements;
* retail p2p and online merchant payments;
* p2p/micro lending and cash advances.
Applying mobile application tools on a top of the same legacy payment systems does not offer enough innovation to effectively solve financial inclusion and economic underdevelopment. Using bitcoin as rails for money transfers, although offers an innovative solution, however is subject to liquidity and high price volatility. such requires reBittance solution providers to hedge their volatility risks, adding more into service costs.
In existing cross-border remittance solutions most of the end users receive payments in cash. This does not bring them any closer to having access to financial services such as access to credit or ability to make online payments.
Our solution offers stable coin (fiat currencies) on public blockchain for cross-border remittances and payments. Not only this allows low cost and nearly instant settlements, but also collects and analyzes user financial and personal data as a basis for blockchain based credit scoring and lending offerings. By implementing this solution Everex provides weighted and managed user financial data to be used for underwriting financial services to un(der)banked consumers.
Pure P2P transparent blockchain transaction. No 3rd parties.
We only provide exchange service.
Smart contracts-based stable coin wallet
Ethereum blockchain settlements
Independent cash IN/OUT locations
No MTL needed.
Remittance as gateway for un(der)banked to financial inclusion, as our solution allow not only remittance but merchant and B2B payments, credit scoring, lending, crowdfunding, insurance.
SOLUTION IS LIVE? Yes