What problem are wesolving and for who?

Money Transfer Operators (MTOs) options forobtaining access to foreign currencies are:

‍

• Establishing a correspondent (payment system) relationship
• Obtaining licenses in jurisdictions via application oracquisitions (e.g. Moneycorp and Novo Mundo CC)
• Integrating wit multiple 3rd party vendors (e.g. Wise)

Current outcomes for MTOs:

‍Expensive (and slow) set up and ongoing operatingmodel – multiple integrations, supplier relationships,Treasury processes, nostro accounts, jurisdiction-basedteams

_{‍The Proposition}

Connect MTOs:

enabling them tooffer instant x-border paymentsin multiplecurrencies

1. MTOs can choose who hosts (MTOs orbanks) them in different currencies
2. MTOs facilitate payments and holdbalances on behalf of each other
3. FX settlement is payment-vs-payment(PvP) and immediate

Connect MTOs: enabling them tooffer instant x-border payments inmultiple currencies

• MTOs don’t have to leave capital at foreignbanks – they can fund when they need, instead of “just in case”
• ‍Offer more currencies without having to form € correspondent relationships or obtain locallicenses
• Transfers are peer-to-peer (not via intermediarybanks)
• Less restrictions and daily caps (payment size andtotals
• No collateral required (for credit lines)
• FX settlement is immediate and 24/7 (PvP settlement = zero FX settlement risk)
• X-border payments instantly settle (with realtime status notifications)‍

‍