The Wealth of the World's Families

300 million people live outside of the country of their birth.¹ More than a billion family members depend on them for spending or savings.

These diaspora families are connected via social network and messaging apps, from Facebook to TikTok, and WhatsApp to WeChat. But their financial lives are increasingly disconnected.

They have to navigate three types of financial institutions: banks in their country of employment, banks in their home countries, and a plethora of remittance and payments apps in between.

These intermediaries remain expensive, hard-to-use, and slow. Remittance costs still average 6-7% globally. Their business models are fundamentally misaligned with financial well-being: they earn via foreign exchange and cashouts, not by helping families improve their long term economic outcomes.

This is driven by the engineering failure of the incumbent industry. The current infrastructure for cross-border payments and global banking is architected as a "messaging and settlement" pipeline rather than a "state management" system.

Blockchains enable us to create global, horizontal financial systems that connect these families across borders and better align incentives to their interests.

In the same way that mobile apps, communications and media are interoperable across borders because of the internet and operating systems like Android and iOS, bringing banking onchain gives diaspora families a universal account, store of value, and means of payments that can exist horizontally across fragmented financial systems.

A nurse working in the United States can now save in US-dollar treasuries and share these savings with family members easily, while automating bills payments and pension contributions. An engineer in Dubai can use a single global wallet so he can work in Singapore next year and not worry about moving large sums or taking an FX loss. A writer earning in the UK can obtain a mortgage back in her hometown in the Philippines, with her GBP earnings underwriting the PH property.

Why Now?

Stablecoins have exploded in growth in 2025, driven by regulatory clarity from the GENIUS Act. Along with the upcoming CLARITY Act, innovation in stablecoins will accelerate more. The US is the #1 source of remittances globally, and is uniquely positioned to build financial services for underserved markets.

Crypto infrastructure has dramatically improved. Solana and Base are driving down transaction costs and growing liquidity. New payments-focused stablecoins like Tempo and Arc are launching soon. Enabling infrastructure like Bridge (stablecoin on/offramps), Privy (wallets), and Rain (card issuing) are enabling application developers to build new products and become backward compatible with existing rails.

Concurrently, AI enables us to build highly personalized, automated and intelligent experiences for families, with a shipping velocity and developer efficiency that was not possible 10 years ago.

Why existing alternatives don't work

There are thousands of exchanges, wallets, and stablecoin-linked cards. But they all focus on holding, swapping, and spending traditional cryptocurrencies like BTC and ETH. Even within the spending use case, they are reliant on Visa / Mastercard's network, and rarely integrate with local RTP rails for fiat payouts.

For the next billion users onboarding into crypto, we need to focus on the use cases that matter more to the average middle class user worried about their earnings, savings, and family's financial well-being.

We believe US dollar access and savings are the killer use cases for this next wave of crypto adoption.

We will differentiate from "traditional crypto" in 3 ways:

• Family-first apps
• Making US dollar savings simple, easy and rewarding.
• Deep integrations for local spending: QR for merchant payments, digital wallet interoperability, prepaid airtime, bill payments, and cash withdrawals. We care less about supporting "150+ countries" and more about the millions of local merchants and billers.

Start with Savings

We start with savings products because this is an underserved segment of the market. Remittance apps focus on sending. Crypto exchanges and wallets focus on trading. They are all built around individuals, not family finances.

Family savings has scale effects because acquiring one family member opens up the rest of the family, and is a wedge to domestic P2P (often ~10-20X the TPV for inbound remittances).

We constantly hear from immigrants about their savings-related problems with their family members back home. This includes accountability for healthy spending, parasitic dependence on overseas earners, and financial literacy in the family.

Savings is an incredibly high trust product, for obvious reasons. This trust is hard to earn and easy to lose. But if we work on this problem and build trust, it leads to long term retention and brand loyalty, creating a defensible moat for the business.