As the year edges toward its close, this past week brought a cascade of pivotal developments in the financial world—and here at PsiFi, we’re laser-focused on unlocking new opportunities in global payments. From record-shattering projections for the remittance market to reinforcing why innovation in this space is more urgent than ever, the momentum for change is undeniable. Let’s dive into the week that was, through the lens of PsiFi’s mission to redefine cross-border transactions.
 

Early in the Week: Is Financial Freedom Finally Here? 💡

We kicked off the week by reimagining what financial inclusion could look like. Across our updates, one theme rang loud and clear: everyone deserves the freedom to move their money—whether that’s $1 or $1 million—as easily as sending a text. It's a future PsiFi is passionately building by leveraging stablecoins and blockchain power for instant, affordable, and transparent transactions. While traditional systems continue to drag their feet, the era of seamless global payments is no longer just a dream; it’s becoming a necessity.
 

Midweek Spotlight: Global Remittances Breaking Records 🚀

The spotlight of the week came when fresh statistics revealed that Mexico is set to receive a staggering $65 billion in remittances by 2024. This isn’t just a number; it’s a vivid portrayal of the countless families and communities relying on cross-border financial flows to stay connected. On top of that, another report underlined how the entire digital remittance market is set to grow at a blistering 15.60% CAGR, climbing from $22.72 billion in 2023 to $72.44 billion by 2031. What do these numbers tell us? The world is rapidly moving away from outdated, high-cost systems toward fast, efficient, and accessible ones—exactly where PsiFi is leading with our blockchain-powered platform.

We highlighted our focus on simplifying remittances between the US and Mexico, regions deeply intertwined through the global workforce. By cutting through bloated fees and slow processing times, PsiFi enables users to send money swiftly and securely while controlling how they receive it—cash, crypto, or local currency. For immigrant families and beyond, this innovation is life-changing.
 

Closing the Week: A $35 Billion Milestone for 2025 🌟

The week wrapped with a huge milestone: remittances are set to hit $35 billion by FY25 globally. And this isn’t just financial flow—it’s economic lifelines for families in every corner of the planet. With monthly remittances already averaging $2.9 billion, the undeniable role of tech in fortifying financial ecosystems came to light. 

For PsiFi, this milestone is deeply reflective of our purpose. It underscores why we’re obsessed with taking the hassle out of sending money. Our platform aligns perfectly with this meteoric growth, empowering individuals to move funds securely, affordably, and across borders as never before. We are setting a new bar for affordability, transparency, and accessibility—three pillars transforming remittances from a burden to a given right.
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The Bigger Picture: Why This Week Matters to PsiFi (and the World) 🌐

A clear trend shone through every announcement this week: the future of financial freedom is unfolding now. Legacy banking systems are losing their appeal, bogged down by inefficiencies, hidden fees, and exclusionary policies. Meanwhile, the staggering growth in remittances and digital payment adoption speaks volumes about the hunger for change.

For PsiFi, this week confirmed we are on the right track. Our mission to dismantle barriers and enable instant, seamless transactions is more relevant than ever. We’re not just building tech—we’re reshaping how the global workforce stays connected, how families are supported, and how financial systems respond to modern needs.

💥 Don’t Just Watch the Change—Be Part of It! 💥

At PsiFi, we’re doing more than talking about the future of finance; we’re building it. This is your chance to join the remittance revolution, break free from outdated limitations, and pave the way for borderless financial freedom.

✅ Sign up today at get.psifi.app

The digital payments industry is evolving faster than ever, and stablecoins are at the heart of this transformation. With major players like Stripe making headlines by acquiring companies like Bridge, stablecoins are more than just a crypto asset — they’re a powerful financial instrument recognized in mainstream finance. This acquisition underscores the growing momentum of stablecoins as a bridge between traditional finance and the decentralized future. For PsiFi, this shift is exciting, reinforcing our commitment to making remittances and global transactions as seamless and accessible as possible.

Why Stablecoins?

Stablecoins have seen unprecedented growth, thanks to their ability to combine the stability of traditional currencies with the efficiency and innovation of blockchain technology. By pegging their value to traditional fiat currencies like the US dollar, stablecoins offer a reliable means of value transfer that’s ideally suited for cross-border transactions. They sidestep the volatility associated with other digital currencies, making them perfect for day-to-day financial operations, especially in B2C remittances where certainty and speed matter most.

PsiFi has harnessed the power of stablecoins from day one. Our platform leverages stablecoin technology to deliver fast, secure, and affordable cross-border payments, creating financial opportunities for people who rely on international transfers — such as immigrants supporting family back home. By using blockchain-based stablecoins, PsiFi can deliver value without the high fees and inefficiencies often seen in traditional financial systems.

The Significance of Stripe’s Move

Stripe’s acquisition of Bridge sends a strong signal to the market: stablecoins are more than just a trend; they’re here to stay. This high-profile acquisition also signifies that companies with extensive reach and influence see stablecoins as a solution to longstanding financial bottlenecks. For PsiFi, this news reinforces our confidence in the path we’ve chosen.

With Stripe’s entry into the stablecoin space, we expect to see a wave of innovation and acceptance that could open up even more pathways for stablecoin integration into everyday transactions. As stablecoins become increasingly recognized and adopted by consumers and businesses alike, PsiFi stands to benefit from heightened trust and legitimacy in our offering.

What This Means for PsiFi’s B2C Remittance Strategy

At PsiFi, our mission is to make global payments easy, accessible, and nearly free. Stablecoins are a core part of that strategy because they enable us to provide borderless financial services to users without the complexities and high fees of traditional remittance services.

Our B2C platform leverages stablecoins to let users send remittances quickly and affordably, with the kind of speed and transparency that’s often lacking in traditional finance. With every major move like Stripe’s acquisition of Bridge, the industry sees that stablecoins are not just for crypto-native users. They’re also for anyone seeking a more efficient and cost-effective way to move money across borders.

The Road Ahead for PsiFi and Stablecoins

Stripe’s involvement adds further momentum to our belief that stablecoins will become the foundation for future global payments. As the adoption of stablecoins grows, PsiFi is perfectly positioned to tap into this demand, providing a practical solution for people looking to send money internationally without friction.

The time is now for stablecoins to shine, and we’re excited to lead the charge in the B2C space. PsiFi is more committed than ever to advancing the remittance industry with stablecoin-powered solutions that deliver on our promise of fast, secure, and nearly free global payments.

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Stay connected with PsiFi as we continue to bring the latest in stablecoin technology to the forefront of financial freedom:

Sign up today at psift.com
Learn more at psifi.app

The world of cryptocurrency has seen the rapid rise of stablecoins, with their applications expanding far beyond just trading. These digital assets, which maintain a fixed value relative to fiat currencies like the US dollar, are transforming cross-border payments, remittances, and everyday financial transactions.

For PsiFi, a blockchain-native remittance platform focused on the U.S.-Mexico corridor, the growing adoption of stablecoins like USDC (USD Coin) is a massive opportunity. Currently, PsiFi leverages USDC to offer fast, low-cost cross-border payments. But with Tether (USDT) dominating key markets, PsiFi plans to add Tether support in its roadmap to further tap into the global remittance market.

In this post, we’ll explore why the increasing demand for stablecoins is great for PsiFi and how supporting multiple stablecoins, including Tether, can supercharge its growth.

The Explosive Growth of Stablecoins

In the past five years, stablecoins have exploded in popularity. From just $3 billion in circulation in 2018, stablecoins now exceed $125 billion, growing over 100% year-over-year. What’s more, stablecoins make up 70% of all cryptocurrency transaction volumes, despite representing only 10% of the total cryptocurrency market cap.

In 2022, stablecoins settled more than $11 trillion in payments, surpassing PayPal and almost reaching the level of Visa’s $11.6 trillion in payment volume.

This growing dominance is driven by stablecoins’ versatility in cross-border payments, remittances, and as a hedge against inflation in volatile economies. This is where PsiFi fits in.

Why Stablecoins are Perfect for PsiFi

PsiFi is building a blockchain-based remittance platform, starting with the U.S.-Mexico corridor — a $60 billion market where 40% of remittances are already digital. The platform currently uses USDC, a stablecoin known for its regulatory compliance and transparency.

USDC is fully backed by U.S. government bonds and cash, making it a highly trusted stablecoin in regulated markets like the U.S. For PsiFi, USDC’s transparency and stability make it a perfect choice for users who want to send funds across borders quickly, securely, and affordably.

However, PsiFi’s long-term vision goes beyond just USDC. Tether (USDT) is by far the most widely used stablecoin in global payments, particularly in high-inflation economies like Latin America, Turkey, and parts of Africa. To fully address the needs of users in these markets, PsiFi plans to add support for USDT, enabling users to choose the stablecoin that best suits their needs.

Tether’s Dominance and Why It Matters

Tether’s dominance in the stablecoin market is undeniable. With a market cap of over $82 billion, USDT is the most used stablecoin globally, especially in regions where financial instability is common. More than 75% of active stablecoin addresses transact less than $1,000 per week, and most of this activity is powered by USDT.

Tether’s popularity is especially strong in emerging markets. For example, more than one-third of Latin American consumers have used stablecoins to make everyday purchases. In countries like Argentina, where inflation has exceeded 100%, stablecoins provide the stability people need to preserve their wealth. Similarly, in Turkey, where inflation hit 80.5% in 2022, millions have turned to stablecoins to safeguard their assets.

By supporting USDT alongside USDC, PsiFi can offer more flexibility to users in these high-inflation economies. This is crucial for remittance users, who often seek the fastest and cheapest options for sending money across borders.

Cross-Border Payments: A Massive Opportunity

Cross-border payments represent a huge opportunity for stablecoins, particularly in emerging markets where traditional financial systems are inefficient and expensive.

In Latin America, 51% of consumers have already made at least one cryptocurrency transaction. This region, as well as parts of Africa and Turkey, has seen a surge in stablecoin adoption, particularly for remittances. Stablecoins like USDC and USDT allow users to bypass the high fees and slow processes of traditional remittance services.

PsiFi’s focus on remittances is perfectly aligned with this trend. By offering instant, low-cost transfers through blockchain technology, PsiFi can disrupt the traditional remittance industry and provide users with a faster, more affordable alternative. And by integrating Tether, PsiFi can capture an even larger share of the global remittance market.

USDC as PsiFi’s Main Stablecoin

USDC is PsiFi’s primary stablecoin for a reason: it’s highly trusted, transparent, and compliant with regulations. Circle, the issuer of USDC, ensures that each USDC token is backed 1:1 by U.S. government bonds and cash, providing peace of mind to users.

For PsiFi, using USDC makes sense, especially in the highly regulated U.S.-Mexico corridor. USDC’s emphasis on compliance makes it a natural choice for users who need to trust that their funds are secure and fully backed.

As PsiFi grows, USDC will continue to be a cornerstone of the platform. But adding Tether support will expand the platform’s appeal to users in regions where USDT dominates.

Why PsiFi Will Add Tether Support

Tether’s dominance in emerging markets, especially on the Tron blockchain, makes it a critical asset for remittances. Tron’s low fees and fast transaction times make it ideal for small, frequent transactions — exactly the type of transfers that dominate the remittance market.

PsiFi plans to add Tether support to cater to users in regions where USDT is the preferred stablecoin. This will allow the platform to expand beyond the U.S.-Mexico corridor and into other key remittance markets, such as Latin America, Turkey, and parts of Africa.

By supporting multiple stablecoins, PsiFi will provide users with more options and greater flexibility, ensuring that the platform can meet the diverse needs of remittance users across the globe.

Stablecoins and PsiFi’s Future

The global demand for stablecoins is skyrocketing, and PsiFi is well-positioned to benefit from this trend. By using USDC as its primary stablecoin, PsiFi offers a safe, reliable, and compliant remittance solution. But as the platform grows, adding Tether support will open up new markets and cater to users in regions where USDT is the dominant stablecoin.

PsiFi’s ability to adapt to these changing dynamics in the stablecoin landscape will be key to its success. With the growing adoption of stablecoins in cross-border payments, PsiFi is poised to become a major player in the remittance space, offering fast, low-cost, and secure transactions for users around the globe.

Supporting both USDC and Tether will allow PsiFi to unlock the full potential of stablecoins and provide users with a seamless experience as they send and receive funds across borders.

PsiFi is a blockchain-native remittance platform focused on cross-border payments, currently supporting USDC with plans to integrate Tether in the future.

Learn more at http://psifi.app

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The US-Mexico remittance corridor is a vital economic and social link between the two countries, enabling millions of Mexican migrants in the United States to support their families back home. Remittances, defined as the money sent by migrant workers to their countries of origin, have become an increasingly important source of income for many developing countries, including Mexico. This paper will explore the current state of the US-Mexico remittance corridor, highlighting the major pain points and potential avenues for improvement.

According to the World Bank, remittance flows to Mexico reached a record high of $60.59 billion in 2022. (Remittance flows to low-and-middle-income nations, n.d)

You can learn more about global remittance flows and trends by exploring the World Bank’s Migration and Development Brief reports. (Migration and Remittances Data, 2022) These large-scale transfers of money play a vital role in the Mexican economy, often exceeding foreign direct investment and serving as a crucial source of income for many households. This impressive figure also underscores the significant economic contributions of Mexican migrant workers in the US, who have long played a crucial role in supporting their families and communities in Mexico through these financial transfers.

However, the remittance corridor is not without its challenges, and addressing these pain points is essential for ensuring the continued growth and efficiency of this vital economic link.

Globally, sending remittances costs an average of 6.3 percent of the amount sent, according to the Remittance Prices Worldwide database. (Remittance Prices Worldwide, 2022) This figure is used to monitor the progress of the global effort for the reduction of remittance prices. In the case of the US-Mexico corridor, remittance costs remain high, often exceeding 10 percent of the amount sent, a significant burden for many migrant workers.

Another key issue is the lack of access to formal financial services for many potential remittance recipients in Mexico. According to the Global Findex database, as of 2017, 36.93% of adults in Mexico did not have a bank account. (Account ownership at a financial institution or with a mobile-money-service provider (% of population ages 15+) — Mexico, 2022) Fortunately, this number is decreasing and used to be 51% figure.

This lack of financial inclusion poses a significant barrier to the effective and efficient transfer of remittances, as many recipients are forced to rely on informal and often more expensive channels. (He, 2021)

The digitalization of cross-border payments has the potential to address some of these challenges, as it can reduce the costs and barriers associated with traditional remittance services. Digital platforms and mobile money solutions can provide more convenient and affordable options for both senders and recipients, while also expanding access to financial services in underserved areas.

In conclusion, the US-Mexico remittance corridor is a critical economic and social link, but it faces significant challenges in terms of high costs and limited financial inclusion.

Addressing these pain points through innovative solutions and policy interventions will be crucial for ensuring the continued growth and development of this vital economic corridor (Adhikari, 2021) (He, 2021) (Giuliano & Ruiz-Arranz, 2009) (Meyer & Shera, 2017).

Global Shift Towards Digital Remittances

The landscape of remittances is evolving, with digital channels playing an increasingly prominent role. Globally, remittance flows have experienced consistent growth, reaching $798 billion in 2022. (Remittance flow value worldwide 2014–2024 | Statista, 2023) This growth has created fertile ground for the adoption of digital remittance solutions, driven by factors like convenience, cost-effectiveness, and increased access to financial services.

This trend is clearly visible in the US-Mexico corridor, where digital remittances have grown significantly. Data suggests that approximately 40% of remittances from the USA to Mexico were sent via digital channels in 2022, a substantial increase from the 15% observed before the COVID-19 pandemic. (Digital Remittances — Worldwide | Statista Market Forecast, 2023).

While cash-based transfers remain relevant, particularly in regions with limited financial infrastructure, several factors contribute to the shift towards digital:

Cost Savings: Digital remittances often have lower transaction fees compared to traditional cash-based methods, making them an attractive option for both senders and recipients.

Convenience and Speed: Digital platforms and mobile money solutions offer greater convenience and faster transfer speeds, allowing for near-instantaneous transactions.

Financial Inclusion: Digital remittances can reach underserved populations with limited access to traditional banking services, promoting financial inclusion and economic empowerment.

The choice between cash and digital channels is influenced by a complex interplay of factors, including cost, accessibility, trust, and existing financial literacy within migrant communities. (Fentaw, 2017) For instance, initiatives like “Greenback Kosovo,” highlighted in the “REMITTANCES RESOURCES” document, demonstrate how addressing accessibility and financial literacy can drive the adoption of digital remittance services. (REMITTANCES RESOURCES, 2018)

While data on the precise breakdown of cash versus digital remittances in the US-Mexico corridor remains elusive, the global trend towards digitalization suggests a similar shift is likely occurring within this corridor. Further research and data collection efforts are crucial to understanding the specific dynamics of this transition in the US-Mexico context.

The Rise of User-Friendly Mobile Remittance Apps

The increasing dominance of digital remittances has been fueled, in part, by the emergence of mobile apps specifically designed to simplify and reduce the cost of sending money across borders. These apps offer a compelling alternative to traditional remittance methods, particularly for tech-savvy users accustomed to managing their finances through their smartphones. This shift towards digital is evident globally, with studies showing a significant increase in digital remittances in developing economies, including a jump in mobile payments. (Zhang, 2023)

Here’s how these user-friendly, low-fee apps are making a difference:

Enhanced Convenience: Mobile apps eliminate the need for physical visits to remittance agents or banks, allowing users to send money anytime, anywhere, with just a few taps on their phones. This is particularly beneficial for migrant workers who may have limited free time or live far from traditional remittance outlets.

Reduced Costs: By leveraging technology and streamlined processes, mobile remittance apps often offer significantly lower fees compared to traditional methods. This cost-effectiveness translates into more money directly reaching recipients, maximizing the impact of these financial transfers. For Mexico specifically, it is estimated that digital remittances could save recipients approximately fifteen days over the course of their lives, nearly 100 million hours in aggregate for the economy and almost $450 million in economic value based on the average income of a Mexican citizen. (Are cryptocurrencies useful for remittances? — Coin Center, 2014)

Improved Transparency: Mobile apps typically provide users with clear and upfront information about fees, exchange rates, and transfer times, promoting transparency and informed decision-making. This is in contrast to some traditional methods where hidden costs or unclear fee structures can erode the value of remittances.

Increased Financial Inclusion: Mobile apps can reach underserved populations with limited access to traditional banking services, empowering them to send and receive money digitally. (Mirembe et al., 2008) This expanded reach promotes financial inclusion and can contribute to broader economic development in both sending and receiving communities. This aligns with the findings of a 2019 report by The Dialogue, which highlights the role of technology in increasing access to financial services within the remittance market. (The Remittance Marketplace in 2019: The Growing Role of Digital Payments — The Dialogue, 2020)

The growing consumer preference for mobile financial transactions due to their ease of use and convenience is evident globally. (Alqahtani & Albahar, 2022) This suggests that user-friendly design is a key driver of mobile app adoption, making them a powerful tool for increasing access to and participation in the digital remittance ecosystem. The growth of online and mobile banking in the US further supports this trend, as it directly impacts remittance sending behavior. (Shy, 2012)

Transforming Lives: The Impact of Mobile Remittances on Mexican Migrants

The widespread adoption of user-friendly, low-fee mobile remittance apps holds the potential to significantly improve the lives of Mexican migrants and their families back home.

By reducing the costs associated with remittance transfers, these digital solutions allow a greater proportion of the funds sent to reach the intended recipients.

Economic Empowerment and Financial Inclusion

Increased Remittance Flows: By reducing transaction costs and simplifying the sending process, mobile apps can encourage migrants to remit more frequently and in smaller amounts, potentially increasing the overall flow of remittances to Mexico (Giuliano & Ruiz-Arranz, 2009)

Greater Financial Control: Mobile apps empower recipients with greater control over their finances. They can receive money directly, access it instantly, and choose how to spend or save it, fostering financial independence and decision-making. (Remittances and Financial Access: Is There Really a Link and for Whom? Evidence from Mexican Household Data, 2015)

Access to Formal Financial Services: For many unbanked individuals in Mexico, receiving remittances via mobile apps can serve as an entry point to the formal financial system. This can open doors to savings accounts, microloans, and other financial products, promoting financial inclusion and upward mobility (Remittances and Financial Access: Is There Really a Link and for Whom? Evidence from Mexican Household Data, 2015)

Improved Livelihoods and Well-being

Reduced Poverty and Vulnerability: Increased remittance income, coupled with greater financial control, can contribute to poverty reduction and provide a safety net against economic shocks. Studies have shown a positive correlation between remittances and reduced poverty levels in developing countries (Poverty and Migration in the Digital Age: Experimental Evidence on Mobile Banking in Bangladesh, 2021)

Enhanced Investment in Education and Health: With more disposable income and greater financial security, families can invest more in their children’s education and healthcare, leading to long-term improvements in human capital and well-being (Meyer & Shera, 2017)

Strengthened Social and Family Ties: Mobile apps facilitate more frequent and direct communication between migrants and their families, strengthening social bonds and providing a sense of connection despite geographical distance (Abad, 2010)

Boosting Economic Development in Mexico

Stimulating Economic Activity: The increased flow of remittances through mobile channels can stimulate local economies in Mexico. Recipients often use remittances for consumption, which boosts demand for goods and services (Giuliano & Ruiz-Arranz, 2009)

Supporting Entrepreneurship: Mobile remittances can provide a source of capital for small businesses and entrepreneurial ventures, fostering job creation and economic growth in local communities (Giuliano & Ruiz-Arranz, 2009)

Reducing Reliance on Informal Channels: By providing a secure and regulated alternative, mobile apps can help shift remittances away from informal channels, reducing leakages and ensuring that more money reaches its intended recipients (Meyer & Shera, 2017)

While more research is needed to quantify the precise impact of mobile remittance apps specifically in the US-Mexico corridor, the evidence from other contexts suggests that their widespread adoption has the potential to transform lives, empower communities, and contribute to broader economic development in Mexico.

Enter Psi Finance

As we’ve explored, the rise of user-friendly mobile remittance apps has the potential to reshape the financial landscape for Mexican migrants and their families. By leveraging the power of blockchain and stablecoin technologies, Psi Finance, aka PsiFi (‘sci-fi’), is at the forefront of this transformation, offering a secure, transparent, and cost-effective alternative to traditional remittance methods.

Much like Venmo and CashApp brought ease and accessibility to peer-to-peer payments within the US, PsiFi is poised to do the same for cross-border transactions between the US and Mexico (also fully working intra-country to be sure). By eliminating intermediaries and streamlining the transfer process, PsiFi empowers users with:

Faster Transactions: Blockchain technology allows for near-instantaneous transfers, bypassing the delays often associated with traditional banking systems.

Lower Fees: PsiFi’s decentralized approach reduces overhead costs, translating into significantly lower fees for users compared to traditional remittance services.

Enhanced Security: Blockchain’s inherent security features, such as cryptography and distributed ledgers, provide a highly secure platform for transferring funds, minimizing the risk of fraud or theft.

PsiFi’s commitment to financial inclusion is evident in its mission to empower underserved communities with access to secure and affordable financial tools. By providing a user-friendly mobile app, PsiFi makes sending and receiving money across borders as simple as sending a text message, bridging the gap between migrants and their loved ones back home.

As PsiFi continues to grow and innovate, it has the potential to catalyze a paradigm shift in the US-Mexico remittance corridor, fostering greater financial inclusion, empowering individuals, and driving economic development on both sides of the border.

We would love to keep you updated on our progress at psift.com

References

Abad, J S. (2010, October 2). El migragrama: una propuesta metodológica para el estudio de las remesas económicas. National University of Distance Education, 0(19), 207–207. https://doi.org/10.5944/empiria.19.2010.2024

Account ownership at a financial institution or with a mobile-money-service provider (% of population ages 15+) — Mexico. (2022, December 31). https://data.worldbank.org/indicator/FX.OWN.TOTL.ZS?locations=MX

Adhikari, S H. (2021, April 8). Remittances and Development in Nepal: A Disaggregated Analysis. , 30(1), 37–50. https://doi.org/10.3126/jmds.v30i1.36350

Alqahtani, M., & Albahar, M A. (2022, January 1). The Impact of Security and Payment Method On Consumers’ Perception of Marketplace in Saudi Arabia. Science and Information Organization, 13(5)

Coello, E R. (2014, December 1). Are cryptocurrencies useful for remittances? — Coin Center

Digital Remittances — Worldwide | Statista Market Forecast. (2023, February 5). https://www.statista.com/outlook/dmo/fintech/digital-payments/digital-remittances/worldwide

Fentaw, A E. (2017, July 5). Ethiopian returnee women from Arab countries: challenges of successful reintegration. Taylor & Francis, 11(1), 33–50

Germany, C A F U A B B. (2015, June 29). Remittances and Financial Access: Is There Really a Link and for Whom? Evidence from Mexican Household Data. https://onlinelibrary.wiley.com/doi/10.1111/twec.12287

Giuliano, P., & Ruiz-Arranz, M. (2009, September 1). Remittances, financial development, and growth. Elsevier BV, 90(1), 144–152. https://doi.org/10.1016/j.jdeveco.2008.10.005

Hassan, L J N M J R S S A Z. (2021, January 24). Poverty and Migration in the Digital Age: Experimental Evidence on Mobile Banking in Bangladesh. https://www.aeaweb.org/articles?id=10.1257/app.20190067

He, D. (2021, January 2). Digitalization of cross-border payments. Routledge, 14(1), 26–38. https://doi.org/10.1080/17538963.2020.1870272

Meyer, D., & Shera, A. (2017, May 1). The impact of remittances on economic growth: An econometric model. Elsevier BV, 18(2), 147–155. https://doi.org/10.1016/j.econ.2016.06.001

Migration and Remittances Data. (2022, December 6). https://www.worldbank.org/en/topic/migrationremittancesdiasporaissues/brief/migration-remittances-data

Mirembe, D P., Kizito, J., Tuheirwe, D., & Muyingi, H. (2008, January 1). A Model for Electronic Money Transfer for Low Resourced Environments: M-Cash

Remittance flows to low-and-middle-income nations. (n.d). https://fingfx.thomsonreuters.com/gfx/editorcharts/dgkplnlopbx/index.html

Remittance Prices Worldwide. (2022, December 10). https://remittanceprices.worldbank.org/

REMITTANCES RESOURCES. (2018, May 23)

Sep, R D B. (2023, June 29). Remittance flow value worldwide 2014–2024 | Statista

Shy, O. (2012, January 2). Account-to-Account Electronic Money Transfers: Recent Developments in the United States. De Gruyter, 11(1)

The Remittance Marketplace in 2019: The Growing Role of Digital Payments — The Dialogue. (2020, March 19)

Zhang, Y. (2023, March 24). Impact of green finance and environmental protection on green economic recovery in South Asian economies: mediating role of FinTech. Springer Science+Business Media, 56(3), 2069–2086

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In today’s global economy, cross-border payments are an essential part of trade, finance, and commerce. However, traditional methods for transferring money across borders often come with inefficiencies, high costs, and delays that have frustrated businesses and individuals for years. Enter blockchain technology — a revolutionary innovation that is transforming the way cross-border payments are conducted. By leveraging blockchain’s decentralized, transparent, and secure nature, this technology promises faster, cheaper, and more secure transactions.

The Challenges of Traditional Cross-Border Payments

To appreciate how blockchain is revolutionizing cross-border payments, we first need to understand the traditional landscape. Historically, cross-border payments have relied on a complex network of intermediaries, including banks and clearinghouses. This system, known as the correspondent banking model, involves multiple steps and parties, each adding time and cost to the transaction.

Key challenges of traditional cross-border payments include:

• High Costs: Traditional cross-border transactions often incur high fees, including currency conversion fees and service charges, making it expensive to send money across borders.

• Slow Processing Times: Payments can take several days to complete due to the involvement of multiple intermediaries and the need for manual processing.

• Lack of Transparency: Traditional payment systems often lack transparency, making it difficult for senders and recipients to track the status of a transaction.

• Limited Accessibility: In many regions, access to traditional banking services is limited, preventing individuals and businesses from participating in cross-border transactions.

These challenges have created a demand for more efficient, cost-effective, and transparent solutions — needs that blockchain technology is uniquely positioned to address.

How Blockchain is Transforming Cross-Border Payments

Blockchain is a distributed ledger technology that enables secure, transparent, and tamper-proof recording of transactions. Unlike traditional centralized systems, blockchain operates on a decentralized network of nodes that collectively maintain the ledger. This decentralized nature eliminates the need for intermediaries, reducing both costs and the risk of single points of failure.

Key Features of Blockchain Technology:

• Decentralization: Eliminates the need for intermediaries, reducing costs and improving speed.

• Transparency: Provides visibility to all participants, enhancing trust.

• Security: Uses cryptographic techniques to secure transactions, making it highly resistant to fraud and tampering.

• Immutability: Once a transaction is recorded, it cannot be altered or deleted, ensuring data integrity.

Impact on Cross-Border Payments

1. Reducing Costs: Blockchain technology significantly lowers the fees associated with cross-border transactions by removing intermediaries. Payments can be executed directly between parties, avoiding currency conversion and other fees typical of traditional banking systems.

2. Speeding Up Transactions: Traditional cross-border payments can take days, especially when multiple currencies are involved. Blockchain enables near-instantaneous settlement of transactions. For example, platforms like Ripple allow cross-border transactions to be settled in seconds, compared to the days required by traditional systems.

3. Enhancing Transparency: Blockchain provides a transparent and immutable ledger of all transactions, allowing real-time tracking of payments. This transparency reduces the risk of disputes and fraud, as all parties can verify the transaction’s details and status.

4. Improving Security: The decentralized and cryptographic nature of blockchain makes it highly resistant to hacking and fraud. The use of smart contracts further enhances security by automating and enforcing payment conditions.

5. Enabling Financial Inclusion: Blockchain technology opens up digital payment systems to individuals and businesses in underserved regions, promoting economic development and reducing poverty. With just a smartphone and internet access, anyone can participate in the global economy without needing a traditional bank account.

6. Facilitating Cross-Border Trade: Blockchain can streamline cross-border trade by providing a secure, transparent, and efficient payment mechanism, making it more accessible to small and medium-sized enterprises (SMEs).

7. Reducing Currency Volatility: Blockchain allows the use of stablecoins — cryptocurrencies pegged to stable assets like the US dollar — to reduce exposure to currency risk, offering a reliable means of transferring value across borders.

Case Studies: Blockchain in Action

• Ripple: A blockchain-based payment protocol that enables real-time cross-border transactions with lower costs and greater transparency. Ripple’s technology is already being used by numerous banks and financial institutions worldwide.

• Stellar: A platform that allows for the transfer of any type of currency across borders, with fast and secure transactions. Stellar is particularly focused on financial inclusion and low transaction costs, making it ideal for remittances and small-scale transactions.

• IBM World Wire: A blockchain-based payment network built on the Stellar protocol that enables real-time settlement of cross-border payments using digital assets.

• BitPesa: A payment platform focusing on facilitating cross-border payments in Africa using Bitcoin and other digital assets, reducing costs and delays associated with traditional remittance services.

The Future of Blockchain in Cross-Border Payments

As blockchain technology continues to evolve, its impact on cross-border payments is expected to grow. Key trends to watch include increased adoption by financial institutions, integration with traditional payment systems, regulatory developments, innovation in digital assets, and the expansion of financial inclusion.

Blockchain is revolutionizing the cross-border payments industry by addressing high costs, slow processing times, lack of transparency, and limited accessibility. Its potential to enhance financial inclusion, streamline trade, and reduce currency volatility positions blockchain as a key driver of innovation in the payments industry. The future of cross-border payments lies in the continued development of blockchain technology, paving the way for a more connected, inclusive, and efficient global economy.

At Psi Finance, we are at the forefront of this transformation, leveraging blockchain technology to offer a seamless, cost-effective, and secure way to transfer value globally. Stay tuned for more updates on how we’re innovating in the cross-border payments space!

Download our app today and stay updated: psift.com

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At PsiFi, our dedication to delivering the best user experience is at the core of everything we do. As we began to build PsiFi, our team analyzed thousands of customer reviews of leading digital payment apps such as Wise and many others over the course of a few months. This deep dive into user feedback allowed us to identify key pain points and celebrated benefits.

By understanding what users truly need and expect from a digital payment platform, we’ve been able to build PsiFi to offer a superior experience — one that not only addresses existing gaps but also enhances the strengths of these platforms. We are committed to taking digital payments to the next level, ensuring that PsiFi provides not just a service, but an exceptional experience.

We were struck by the remarkable consistency in the types of issues reported by users across various digital payment platforms. Despite differences in features and target markets, a clear pattern emerged: users consistently faced similar challenges, such as inadequate customer support, slow transaction times, complex verification processes, and unexpected technical issues. This strong correlation highlights a broader industry-wide gap in meeting the fundamental needs and expectations of users.

It became evident that while each app had its unique strengths, the core problems remained largely unaddressed. This insight has driven us to innovate and ensure that PsiFi not only avoids these common pitfalls but also redefines the digital payments experience by prioritizing user satisfaction and reliability at every turn.

Let’s call users of current payment apps “TradFi users” (Traditional Finance users) vs PsiFi users.

The Challenges Faced by TradFi Users

1. General Problems and Technical Issues

Our analysis revealed that many TradFi users frequently encounter various problems, such as technical glitches, app crashes, and failed transactions. These disruptions often leave users without clear guidance or solutions, leading to frustration.

PsiFi’s Solution:

To prevent such issues, PsiFi has integrated a cutting-edge troubleshooting assistant directly within the app. This feature helps users quickly diagnose and resolve problems, and if needed, seamlessly connects them to a live support agent for immediate assistance.

2. Customer Support and Service Shortcomings

Customer support was a significant concern among TradFi users. Many found themselves dealing with long wait times, automated responses, and difficulty reaching a human representative, especially during critical situations involving financial transactions.

PsiFi’s Solution:

PsiFi offers a superior customer support experience with 24/7 access to real customer service agents through multiple channels, including in-app chat and phone support. We ensure every user receives timely and effective assistance, making customer service a priority.

3. Verification and Security Concerns

Many users expressed frustration with the verification process on TradFi apps, citing difficulties in submitting required documents and lengthy delays impacting their ability to use the platform.

PsiFi’s Solution:

PsiFi has streamlined the verification process, making it both secure and user-friendly. We provide clear instructions and real-time updates on verification status, ensuring a smooth and quick process for all users.

4. Delays and Unpredictable Transaction Times

Speed is a crucial factor in digital payments, and TradFi users have reported delays and unpredictable transaction times, which can be particularly frustrating in urgent situations.

PsiFi’s Solution:

PsiFi is engineered for speed and transparency. Our platform offers instant transactions with real-time tracking, so users always know the status of their transfers. We optimize our technology to handle high transaction volumes efficiently and reliably.

5. Account Access and Freezes

Some TradFi users experienced unexpected account freezes without clear communication or reasons provided, causing significant stress when access to funds was restricted.

PsiFi’s Solution:

PsiFi features proactive account monitoring and alerts that keep users informed of any unusual activity. If an account freeze is necessary, we provide a detailed explanation and clear steps for a quick resolution, reducing stress and ensuring better communication.

The Triumphs of TradFi and How PsiFi Builds on Them

Despite these challenges, our review of TradFi apps also highlighted several strengths appreciated by users:

1. Ease of Use and User-Friendly Interface

Many TradFi apps are known for their simple and intuitive interface, which makes it easy for users to perform transactions and manage their accounts.

PsiFi’s Enhancement:

PsiFi builds on this by offering a customizable and intuitive user interface. Our platform provides a personalized dashboard tailored to each user’s needs, making the experience even more straightforward and enjoyable.

2. Fast and Reliable Transactions

Many users appreciate many modern apps relatively fast and reliable transaction processing (if they only knew what was really happening underneath…!), a critical feature for any digital payment platform.

PsiFi’s Enhancement:

PsiFi takes transaction speed and reliability to the next level with instant transfer options and real-time transaction tracking. Our platform ensures users receive immediate confirmation, providing peace of mind with every transaction.

3. Low Fees and Competitive Exchange Rates

Specifically Wise is known for its low fees and competitive exchange rates, which attract users making frequent international transfers.

PsiFi’s Enhancement:

PsiFi offers transparent pricing with no hidden fees and highly competitive rates — the best the world has seen to date because we leverage blockchain. Users can see all costs upfront, ensuring they always know what they’re paying for and getting the best value.

4. Strong Security Measures

Security is a critical concern, and TradFi apps have generally implemented strong measures to protect user data and transactions.

PsiFi’s Enhancement:

PsiFi enhances security with advanced features such as biometric authentication, AI-driven fraud detection, and customizable security alerts, providing users with an added layer of protection and confidence in their transactions.

Conclusion: Why PsiFi is the Superior Choice for Digital Payments

By learning from the best and addressing the pain points identified in current TradFi platforms, PsiFi is setting a new standard in the digital payments industry. We are committed to providing a fast, secure, and user-friendly experience that not only meets but exceeds user expectations. Whether through superior customer support, instant transactions, or advanced security features, PsiFi is here to make global payments simple, transparent, and accessible for everyone.

Ready to experience the future of digital payments? Join PsiFi today at psifi.app and discover how we’re revolutionizing the way you move money across the globe.

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Remittances are a lifeline for millions of families worldwide, particularly in developing nations where money sent from abroad plays a critical role in sustaining households and fueling economic growth. Yet, despite their importance, the remittance industry has long been plagued by high fees and inefficiencies that erode the financial benefits received by those who need them most. Enter blockchain technology — a potential game-changer poised to revolutionize cross-border payments by slashing costs and improving efficiency.

In recent years, blockchain has gained attention for its transformative potential, promising to reshape the remittance landscape. Two influential studies — one by the Organisation for Economic Co-operation and Development (OECD) and another by the International Monetary Fund (IMF) — provide a deep dive into how this cutting-edge technology could lower remittance costs and streamline global financial transactions.

The Power of Blockchain: A Promise to Cut Costs

Blockchain technology offers a range of innovative mechanisms that could drastically reduce the cost of remittances. The OECD report highlights several key areas where blockchain could make a significant impact:

1. Harnessing Cryptocurrencies and Stablecoins: Cryptocurrencies and stablecoins offer new avenues for facilitating international payments. By eliminating traditional financial institutions as intermediaries, these digital currencies can drastically cut transaction fees. Stablecoins, with their relatively stable value, are particularly well-suited for cross-border payments, offering a blend of security and cost-effectiveness.

2. Revolutionizing Know Your Customer (KYC) Processes: KYC procedures, essential for verifying customer identities, are often cumbersome and costly. Blockchain can streamline this process by creating secure digital identities, making verification faster and less expensive. This innovation has the potential to save financial institutions millions annually, making it easier for people to access financial services.

3. Speeding Up Settlements and Correspondent Banking: Traditional settlement processes can be slow and costly, tying up capital and resources. Blockchain’s ability to facilitate instant settlements not only reduces these costs but also enhances the security and transparency of transactions, making it a compelling alternative to outdated systems.

4. Enhancing Cross-Border Payment Efficiency: Blockchain’s decentralized ledger can simplify cross-border transactions by reducing the number of intermediaries and enabling faster, more secure payments. This efficiency could revolutionize the way money is sent across borders, particularly for remittances.

While the potential is vast, the OECD report also acknowledges the challenges that blockchain must overcome, including its current technological immaturity, scalability issues, and regulatory concerns — particularly around the use of stablecoins.

Key Insights from the IMF: Trends and Challenges

The IMF working paper provides a comprehensive analysis of remittance fees across 365 payment corridors, shedding light on the factors that influence these costs and examining trends over the past decade. While there has been a gradual decline in remittance fees, the goal of reducing them to below 3% remains elusive in many corridors.

Notable findings from the study include:

• Market Dynamics: The study reveals that corridors dominated by a few large banks often have higher fees. Introducing more competition, especially from non-bank providers, could help drive costs down, benefiting consumers.

• The Digital Shift: The move from cash-based to internet-based transactions is a critical factor in reducing remittance fees. Moreover, stable exchange rates play a significant role, as volatile rates can lead to higher risk premiums imposed by service providers.

• Demographic Factors and Transaction Volume: Rural populations in sending countries and smaller transaction sizes are often associated with higher fees. By increasing transaction volumes, the fixed costs associated with remittances can be spread across more transactions, thereby reducing fees.

The Role of Mobile Money: A Game-Changer

Both the OECD and IMF reports emphasize the transformative impact of mobile money on remittance costs. In regions where traditional banking infrastructure is limited, mobile money platforms provide an accessible, low-cost alternative for sending and receiving funds. These platforms are particularly effective in lowering remittance costs, offering a glimpse into the future of financial inclusion.

The Road Ahead: Challenges and Opportunities

Blockchain technology holds immense potential to transform the remittance industry, offering faster, cheaper, and more secure transactions. However, realizing this potential will require overcoming significant hurdles, including regulatory compliance, technological maturity, and ensuring that these solutions are accessible to everyone, particularly the most vulnerable populations.

The reports from the OECD and IMF underscore the need for a comprehensive approach to reducing remittance costs. This includes leveraging blockchain technology, fostering competition, promoting digitalization, and expanding mobile money services. By addressing these challenges, blockchain could become a pivotal force in making remittances more affordable and efficient, ultimately empowering millions of families around the world.

PsiFi: Leading the Charge in Blockchain-Powered Remittances

Enter PsiFi; we’re a forward-thinking company at the forefront of this blockchain revolution. We’re uniquely positioned to revolutionize the remittance landscape with its cutting-edge platform, which leverages blockchain technology to offer seamless, low-cost cross-border payments. By simplifying complex processes and eliminating unnecessary intermediaries, we enable users to send money globally with unprecedented ease, speed, and security.

Our commitment to innovation is evident in our mobile-first approach, which ensures accessibility for users worldwide, particularly in regions where traditional banking services are scarce. With features like instant settlement, digital identities for streamlined KYC processes, and the integration of stablecoins for stable and reliable transactions, we are poised to make a significant impact on reducing remittance costs, and we’re excited about this important mission.

As the remittance industry continues to evolve, we stand ready to lead the way, delivering a future where sending money across borders is not just easier and faster, but also more affordable for millions of families who depend on these vital financial flows.

In a world where every dollar counts, our blockchain-powered solutions could be the key to unlocking a new era of financial empowerment.

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Learn more and sign up today for early access: https://www.psifi.app/

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We’re thrilled to announce a game-changing moment in PsiFi’s journey: we’ve chosen Celo, an innovative Ethereum Layer 2 solution, as our foundational blockchain platform. This decision marks a significant leap forward in our mission to create a “grandma-approved” user experience for global payments, underpinned by the robust security and efficiency of blockchain technology. As we set our sights on revolutionizing remittance payments and broader financial services, Celo emerges as the perfect partner to bring our vision to life.

Putting Financial Power in Your Pocket

Celo’s mobile-first approach aligns seamlessly with PsiFi’s goal of creating an accessible payment system for users worldwide. In an era where smartphone penetration is rapidly increasing, especially in emerging markets, Celo’s mobile-optimized design is a game-changer. According to the GSMA, by 2025, 80% of connections in Sub-Saharan Africa will be smartphones. This trend underscores the importance of mobile-first solutions in driving financial inclusion, particularly in regions where traditional banking infrastructure is limited.

The Celo Advantage

One of the most significant challenges in using cryptocurrencies for everyday transactions is price volatility. Celo addresses this through its innovative stability mechanism, which employs a hybrid crypto-collateralized and seigniorage-style model. This sophisticated system ensures the stability of Celo’s stablecoins, such as the Celo Dollar (cUSD). The protocol dynamically adjusts the supply of cUSD through a reserve of diversified crypto assets and the native CELO token, maintaining the peg to the US Dollar.

This stability is crucial for our remittance and payment services, as it provides users with the confidence that their funds will maintain their value across borders and over time.

Banking the Unbanked

Celo’s commitment to financial inclusion resonates deeply with PsiFi’s goals. The platform enables the creation of stable-value digital assets, making it particularly well-suited for emerging markets and communities with limited access to traditional banking services. This aligns perfectly with PsiFi’s focus on remittance payments, which are often a lifeline for underbanked populations.

The World Bank reports that remittances to low- and middle-income countries reached $589 billion in 2021, highlighting the massive potential impact of more efficient, blockchain-based remittance solutions.

Simplicity Meets Sophistication

User experience is at the heart of PsiFi’s mission, and Celo’s innovative address-based encryption scheme is a true game-changer in this regard. This feature allows users to send payments using just a phone number or email address, eliminating the need for complex public keys that often deter non-technical users. This “grandma-approved” UX is exactly what PsiFi aims to provide, making blockchain-based payments accessible to everyone, regardless of their technical expertise.

Building for the Future

As an Ethereum Layer 2 solution, Celo offers enhanced scalability and interoperability, crucial factors for PsiFi’s growth ambitions. Celo can handle a growing number of users without compromising performance, thanks to its proof-of-stake consensus mechanism. This scalability is paired with lower transaction costs compared to the Ethereum mainnet, making micro-transactions and remittances more economically viable.

Strength in Numbers

The vibrant Celo community and ecosystem provide invaluable support for projects like PsiFi. The platform boasts a range of development tools and resources, accelerating our development process and fostering collaboration within the blockchain space. This community-driven approach aligns with our vision of creating a global network of users and developers passionate about accessible financial services.

Sustainability at Our Core

In an era where environmental concerns are paramount, Celo’s sustainability credentials set it apart. The platform’s proof-of-stake consensus mechanism is significantly more energy-efficient compared to traditional proof-of-work systems. This aligns with PsiFi’s commitment to building sustainable and environmentally friendly solutions.

Shaping the Future Together

Celo’s governance model, which allows CELO token holders to participate in decision-making processes, ensures that the platform can evolve and adapt to changing needs. This flexibility is crucial for PsiFi, as we anticipate the need to adjust and expand our services as the global financial landscape changes.

A World of Possibilities

For a platform focusing on remittances, Celo’s cross-border capabilities are particularly advantageous. The ability to create multiple stable-value currencies, each potentially backed by a shared or partitioned reserve system, supports the development of various local and regional currencies. This feature enhances financial inclusion and stability across different geographical regions, perfectly suiting PsiFi’s global ambitions.

Embarking on a Financial Revolution

Choosing Celo as our blockchain foundation is more than a technical decision — it’s a strategic alignment with a platform that shares our vision of accessible, stable, and inclusive global finance. As we embark on this exciting journey to revolutionize remittances and global payments, we’re confident that Celo’s innovative features, community support, and commitment to financial inclusion will be instrumental in bringing PsiFi’s “grandma-approved” UX to users around the world.

Join Us in Shaping the Future of Finance

We invite our community to join us in this new chapter. Together with Celo, we’re not just building a payment platform; we’re contributing to a more connected and financially empowered global society. The potential impact is enormous — from reducing remittance costs and increasing financial access in underserved regions to fostering local economic development through community currencies. As we begin this thrilling new phase of development, we look forward to sharing more updates and innovations that will shape the future of global finance.

Stay tuned for the financial revolution — it’s happening now, and you’re part of it!

Sign up with your email at PsiFi.app to follow our progress!

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Ever tried sending money to family abroad? It’s slow, expensive, and feels like using tech from the stone age. In an era where we can video chat across the world instantly, why is sending cash still a nightmare?

Enter PsiFi — we’re not just updating money transfers; we’re revolutionizing them with blockchain technology.

The Problem: Outdated Systems and Hidden Costs

Imagine this: It’s Friday night, and your mom calls from Mexico. Your sister needs emergency surgery, and the hospital wants $2000 upfront. You have the money, but how do you get it there fast? Banks are closed, ATMs have withdrawal limits, and traditional services like Western Union come with hefty fees and delays. This scenario highlights a glaring issue in the $700 billion remittance market — it’s running on outdated tech, resulting in:

• High fees (average 6% of the transfer amount)
• Long waiting times for money to arrive
• Frustrating user experiences

The PsiFi Solution: Blockchain Meets User-Friendly Design

PsiFi combines Venmo’s simplicity with blockchain’s power to create a revolutionary money transfer experience:

1. Lightning-Fast Transfers: Send money from the US to Mexico in seconds, not days.
2. Minimal Fees: Say goodbye to those hefty charges eating into your hard-earned cash.
3. Real-Time Tracking: Follow your money’s journey from start to finish.
4. Flexible Receiving Options: Choose between bank deposits or instant card loads.
5. User-Friendly Interface: So simple, even your grandma could use it.

How It Works:

1. Open the PsiFi app
2. Enter the amount
3. Hit send
4. Money arrives almost instantly

It’s that easy. No more waiting for banks to open or worrying about hidden fees.

The Secret Sauce: Blockchain Technology

Blockchain isn’t just a buzzword — it’s our superpower. While traditional banks struggle with cross-border transfers, blockchain makes those borders disappear. This means:

• Microscopic fees
• Near-instantaneous transfers
• Transparent transactions
• Elimination of hidden currency exchange costs

The Future of Finance is Here

PsiFi isn’t just another fintech app — it’s a complete reimagining of how money moves globally. We’re starting with US-Mexico transfers, but our vision is global. Imagine a world where:

• Sending money is as easy as sending a text
• Fees are so low you’ll barely notice them
• Your full amount reaches your loved ones, right when they need it

Join the Financial Revolution

The future of money transfers isn’t some far-off sci-fi dream — it’s happening now with PsiFi. We’re blending the best of traditional banking with the power of blockchain to create a world where your money moves at the speed of thought.

Don’t be the last one using a fax machine while everyone else is teleporting cash across the globe. Join PsiFi and experience the future of finance today. Because let’s face it, sending money home should be easier than posting a selfie.

Welcome to PsiFi — where sending money across the world is as easy as sending a text next door.

Sign up today: psifi.app

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In today’s interconnected world, our commerce, social circles, and daily interactions are not confined by geographical boundaries. From buying goods from overseas sellers to maintaining friendships across continents, our lives have transcended traditional borders. Yet, the financial systems we rely on remain stubbornly localized and fragmented. It’s time to rethink this outdated model.

Enter blockchain — the technology poised to revolutionize global payments and make localized finance (LoFi), also known as the traditional finance (TradFi) Payment Rails, a thing of the past.

When you conduct commerce, chat with friends, play games online, or interact with people on social media, your activities are global, not local.

Our payment system needs to evolve to meet this global reality and future.

The Limitations of Traditional Payment Systems

Traditional financial systems are built on a patchwork of banks, payment processors, and national regulations. While these systems have evolved over centuries to facilitate commerce, they are far from perfect.

Here are some key limitations:

• High Costs and Slow Transactions — Cross-border transactions often incur high fees and can take days to process due to the involvement of multiple intermediaries.
• Limited Accessibility — Billions of people around the world remain unbanked or underbanked, unable to access essential financial services.
• Lack of Transparency — Traditional systems are opaque, making it difficult to trace transactions and leading to issues such as fraud and corruption.
• Currency Exchange Hassles — Dealing with multiple currencies adds complexity and cost, particularly for businesses operating internationally.

Blockchain: The Global Payment Rail

Blockchain technology offers a transformative solution to these challenges. By providing a decentralized, transparent, and secure ledger system, blockchain can serve as a global payment rail, enabling seamless financial transactions across borders.

Here’s how:

• Borderless Transactions — Blockchain allows for instant, low-cost transactions anywhere in the world, bypassing the need for intermediaries. This is particularly beneficial for remittances and international trade.
• Financial Inclusion — With blockchain, anyone with an internet connection can access financial services, democratizing access and empowering the unbanked population.
• Transparency and Security — Every transaction on a blockchain is recorded on a public ledger, providing unparalleled transparency and reducing the risk of fraud.
• Efficiency and Cost-Effectiveness — By eliminating intermediaries, blockchain reduces transaction costs and speeds up processing times, benefiting both consumers and businesses.

The Evolution of Payment Systems: From Venmo to Blockchain

Take Venmo, for example, a popular peer-to-peer payment platform. While Venmo has revolutionized the way we send and receive money domestically, it still operates within the confines of traditional banking infrastructure. Imagine if we could push Venmo onto a blockchain platform, enabling instant, low-cost, and borderless payments.

By leveraging blockchain technology, we can expand Venmo’s features and functionality, offering:

• Instant Cross-Border Payments — Send money to friends and family across the globe without worrying about exchange rates or transaction fees.
• Enhanced Security — Utilize blockchain’s robust security features to protect against fraud and unauthorized transactions.
• Decentralized Finance (DeFi) Integration — Access a suite of DeFi services such as lending, borrowing, and investing directly from the platform, providing users with more financial opportunities.
• Smart Contracts — Automate payments and agreements through smart contracts, reducing the need for intermediaries and streamlining processes.

Blockchain is Eating the World

The shift to blockchain is not just about improving payment systems; it’s about fundamentally transforming the global financial landscape. Just as the internet revolutionized communication, blockchain is set to revolutionize finance. This shift is already underway, with numerous industries adopting blockchain for various applications, from supply chain management to digital identity verification.

As blockchain continues to gain traction, we will see a gradual but inevitable decline in traditional financial systems. The benefits of blockchain — cost efficiency, transparency, security, and inclusivity — are simply too significant to ignore.

Embracing the Future

The future of finance is global, decentralized, and inclusive. By embracing blockchain technology, we can build a financial system that is aligned with our interconnected world. It’s time to move beyond the limitations of localized finance and leverage the power of blockchain to create a seamless, borderless financial ecosystem.

In conclusion, the transition to blockchain-based payment systems is not just a technological upgrade; it’s a paradigm shift that will redefine the way we interact with money and each other.

Let’s harness this technology to create a more efficient, transparent, and inclusive financial world.

Learn more: psifi.app

In this article, we cover how PsiFi ensures full safety and self-custody of user wallets, including the entire login and account management flow. PsiFi does not keep any login information or wallet access on any of our servers. You, as the user, are in full control of your digital assets. Unlike traditional systems, nothing like passwords or other sensitive information is stored on our servers, ensuring that your data remains secure and private.

Furthermore, security is paramount in digital asset management. PsiFi employs state-of-the-art security protocols, including Multi-Party Computation (MPC) and Distributed Key Generation (DKG). These technologies ensure the highest levels of security and key recoverability without compromising user experience or principles of self-custody. By leveraging MPC and DKG, PsiFi provides robust protection against potential threats, giving users peace of mind.

Account Abstraction Support

Account abstraction is a revolutionary concept that simplifies the user experience by decoupling user accounts from the underlying blockchain infrastructure. This means that users can interact with the blockchain in a more intuitive and user-friendly manner. PsiFi’s implementation of account abstraction provides numerous benefits, including enhanced security, easier account recovery, and a more streamlined user experience via instant funds transfers.

By supporting account abstraction, PsiFi allows users to manage their accounts without having to worry about the complexities of blockchain technology. This not only makes the technology more accessible to a broader audience but also reduces the risk of user errors that could lead to the loss of funds.

Enhanced User Experience

PsiFi’s wallet is designed with the user in mind. Its streamlined onboarding process makes it easy for new users to set up their wallets and start managing their digital assets quickly. Transaction management is also simplified, allowing users to track and manage their transactions with ease. In the event of account issues, PsiFi’s simplified recovery process ensures that users can regain access to their funds without unnecessary hassle. PsiFi also supports spending limits and two-factor authentication (2FA) for progressive authorization.

Conclusion

In conclusion, PsiFi is a powerful and versatile tool that offers a host of benefits for our users. Our focus on safety, ease of use, and self-custody ensures that users are always in full control of their digital assets. By leveraging cutting-edge technologies like Multi-Party Computation and Distributed Key Generation, we provide unparalleled security without compromising user experience.

Our approach eliminates the need for centralized storage of login information or wallet access, keeping everything decentralized and within the user’s control. With features like wallet portability and multi-chain support, PsiFi is setting a new standard in wallet management solutions. Explore the possibilities and take control of your digital assets with PsiFi’s wallet today, where your security and convenience are our top priorities.

Learn more: psifi.app

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In recent years, the digital payments landscape has undergone a seismic shift. The market is not only growing but is also experiencing a transformative evolution from traditional fiat currencies to blockchain-native cryptocurrencies. In this post, we’ll explore these two major themes and discuss how PsiFi is uniquely positioned to lead this revolution.

The Booming Digital Payments Industry

The digital payments industry is witnessing unprecedented growth. According to recent estimates, the digital payments market in the United States alone is projected to reach a staggering $4,620 billion by 2028. This exponential growth is driven by several factors:

1. Mobile-First Payment Solutions: With the rise of smartphones and mobile internet, consumers increasingly prefer mobile-first payment solutions. Whether it’s paying bills, transferring money, or making online purchases, digital wallets and mobile payment apps have become the norm.

2. Convenience and Speed: Digital payments offer unparalleled convenience and speed. Transactions that once took days can now be completed in seconds, providing a seamless user experience.

3. Global Connectivity: The world is more connected than ever before. Digital payments break down geographical barriers, allowing for instant cross-border transactions.

This booming industry presents a massive opportunity for innovation and growth. Companies that can offer efficient, secure, and user-friendly payment solutions are set to thrive in this rapidly expanding market.

The Transition from Fiat to Crypto: A Financial Revolution

While the growth of the digital payments industry is impressive, an even more profound transformation is occurring: the shift from fiat currencies to cryptocurrencies. Blockchain technology is revolutionizing the financial landscape in several key ways:

1. Global and Instant: Cryptocurrencies enable truly global transactions that are processed almost instantaneously. This is a game-changer for international commerce and remittances.

2. Efficiency: Blockchain technology reduces the need for intermediaries, streamlining processes and reducing costs. This efficiency is particularly beneficial for businesses and consumers alike.

3. Security and Transparency: Blockchain’s decentralized nature enhances security and transparency. Every transaction is recorded on an immutable ledger, reducing the risk of fraud and increasing trust.

4. Innovation and Accessibility: Cryptocurrencies open the door to new financial services and products. From decentralized finance (DeFi) platforms to non-fungible tokens (NFTs), the possibilities are endless.

As fiat currencies increasingly convert to crypto, the potential for disruption in the traditional financial system is enormous. This shift is not just a trend; it’s a fundamental change that is poised to reshape the world economy.

PsiFi: Leading the Charge in Digital and Crypto Payments

At PsiFi, we are at the forefront of these two converging trends. Our mission is to bridge the gap between fiat and crypto, providing a seamless, secure, and efficient platform for global payments. Here’s how we’re doing it:

1. Universal Compatibility: PsiFi’s platform supports payments across multiple currencies and networks. Users can send and receive money effortlessly, regardless of the underlying currency or blockchain.

2. User-Friendly Interface: We prioritize simplicity and ease of use. Our intuitive interface makes it easy for both crypto enthusiasts and newcomers to navigate the world of digital payments.

3. Security and Compliance: PsiFi is built on robust blockchain technology, ensuring the highest levels of security and compliance. Our platform adheres to regulatory standards, providing peace of mind for users and businesses.

4. Innovation: We are constantly innovating to stay ahead of the curve. Our team is dedicated to developing new features and services that enhance the payment experience and unlock new possibilities.

Conclusion

The digital payments market is booming, and the transition from fiat to crypto is accelerating. PsiFi is uniquely positioned to capture this growth by offering a platform that bridges the gap between traditional and blockchain-native finance. As we look to the future, we are excited to lead the charge in redefining global payments.

Join us on our journey to make digital payments simple, fast, and secure for everyone, anywhere. The future of finance is here, and it’s powered by PsiFi.

Learn more at psifi.app

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Author: John Shutkind, PsiFi Research

At PsiFi, we understand that robust tokenomics is the cornerstone of a successful and sustainable crypto project. Our journey toward building a token model that maximizes impact and value for our community begins with a thorough literature review. This phase is crucial as it allows us to gather insights from existing research and models, ensuring that our approach is grounded in proven methodologies.

Key Insights from Tokenomics Literature

One of the foundational studies we at PsiFi Research have reviewed is “Tokenomics: Optimal Monetary and Fee Policies” by Jermann and Xiang. This comprehensive analysis provides valuable insights into the dynamics of token growth rates, convergence speeds, and the impacts of fee policies on token velocity.

Main Conclusions from Historical Data:

Decline and Stabilization of Money Growth Rates:
Over time, the money growth rates of cryptocurrencies tend to decline and stabilize around 0.2% per month. Notably, younger tokens converge to these long-term growth rates more rapidly.

Correlation Between Growth Rates and Convergence Speeds:
There is a positive correlation between long-term money growth rates and convergence speeds. This indicates that tokens with higher growth rates tend to stabilize faster.

Retail Investor Holdings:
Tokens predominantly held by retail investors exhibit relatively lower long-term growth rates and convergence speeds, suggesting that institutional holdings might contribute to greater stability and growth.

Dynamic Model for Optimal Policies:

The study also introduces a dynamic model to determine optimal token issuance and fee policies. The model’s optimization framework considers various factors, including token consumption, price, velocity, and fee rates.

This problem boils down to finding the maximum expected value at time t of the future consumption plus a utility function with a quadratic loss term with respect to current velocity. Please read the article for the definition of the terms in the equation.

In this article we will take a higher level view and share what we learned and how it affects our thinking towards a sustainable tokenomics model for PsiFi:

Key takeaways include:
Higher fee rates are found to reduce token velocity, which can stabilize the token’s value. Conversely, higher real balances (token holdings) imply increased velocity, indicating active usage and liquidity within the ecosystem.

The paper discusses two primary commitment strategies for issuers. Commits to a state-contingent monetary and fee policy at the outset and does not adjust the policy even if it becomes suboptimal. And optimize the policy in every period, adjusting based on the current state and expected future conditions.

To bridge the gap between the rigid Ramsey and flexible Markov-Perfect strategies, a probabilistic commitment model is proposed. This model allows for partial commitment to token issuance, balancing stability and flexibility.

Impact on PsiFi’s Tokenomics

The insights from this literature review are instrumental in shaping PsiFi’s token model. By understanding the dynamics of token growth rates and fee policies, we can design a tokenomics framework that implements a growth rate that stabilizes over time, ensuring sustainable value appreciation for our token holders. Our fee policy will be designed to optimize token velocity, encouraging active use while maintaining price stability. Also, by partially committing to token issuance policies, we can adapt to changing market conditions while providing a stable and predictable token environment.

Next Steps

The next phase for PsiFi involves simulating and fine-tuning the parameters and commitment structures outlined in the literature. This will include running simulations based on different commitment probabilities to find the optimal balance for our token model, analyzing the tokenomics of successful projects like Bitcoin and Ethereum to draw practical lessons and benchmarks.

We will engage with our community to gather feedback and insights, ensuring our tokenomics model aligns with the needs and expectations of our users.

By taking these steps, PsiFi reaffirms its commitment to building a robust and impactful token model. Our meticulous approach to literature review and model development underscores our dedication to creating value and confidence within our community.

“At PsiFi, our Research team has done an exceptional job in laying the groundwork for a sustainable token model. Their dedication and rigorous analysis ensure that we are building a framework that maximizes impact and value for our community. This work is pivotal in guiding us towards a robust and long-term vision for PsiFi.”
Jesper, CEO of PsiFi

Conclusion

PsiFi is committed to ensuring that our token model not only meets but exceeds the expectations of our community. By leveraging insights from comprehensive studies and adopting a balanced approach to token issuance and fee policies, we are poised to create a tokenomics framework that stands the test of time. Stay tuned as we continue to refine and perfect our model, always with the goal of delivering maximum impact and value to our community.

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We are thrilled to announce that PsiFi has successfully completed the alpha version v1 of our groundbreaking app, Psift, and launched it in the TestFlight App Store! This marks a significant milestone in our journey to revolutionize digital payments and make seamless crypto transactions accessible to everyone.

Key Features of Alpha v1

Alpha v1 comes packed with essential features that lay the foundation for a user-friendly and efficient digital payments platform:

1. Usernames for Sending Crypto

With Psift, you can now receive crypto and send it to your contacts using their usernames only. This feature eliminates the need for cumbersome wallet addresses, making transactions simple and intuitive.

2. Built-in Faucet on Testnet

We have integrated a faucet on the testnet to ensure that trying out Psift is easy and hassle-free. This allows users to experiment with the app and familiarize themselves with its features without any risk.

3. Address Book for Contacts

You can add contacts to your address book, making it easy to manage and access your frequent transaction partners. This feature streamlines the process of sending and receiving crypto, enhancing the overall user experience.

4. Profile Updates

Users can update their profiles, adding a personal touch to their Psift accounts. This includes updating profile pictures, usernames, and other personal information to make your account truly yours.

5. Transaction History

Psift provides a comprehensive transaction history that allows you to see all your transactions across all contacts. Additionally, you can view transaction histories for specific people, giving you a detailed overview of your financial activities.

What’s Next?

As we celebrate this achievement, we are also looking ahead to the exciting developments on the horizon.

Partnerships with On- and Offramps

We have secured partnerships with key on- and offramps that we will enable as we get closer to going live. Before this, we need to implement these partnerships using their APIs to ensure seamless integration and access.

Token and Network Agnostic Transfers

One of our core goals is to implement a system that allows token and network-agnostic transfers. This will enable users to send and receive any token across any network, further simplifying the crypto transaction process.

Defining the Next Feature Set for Alpha v2

We are currently defining the next feature set for alpha v2 and will be diligently working towards this in the coming weeks. Our aim is to build on the solid foundation of alpha v1 and introduce new functionalities that enhance the user experience.

Inviting Early Supporters for Feedback

In the spirit of continuous improvement, we will start inviting our early supporters to provide feedback on Psift. Our goal is to listen to their experiences and pain points and iterate on that feedback to refine and enhance the app. This collaborative approach ensures that we build a platform that truly meets the needs of our users.

Join Us on This Exciting Journey

We are incredibly excited about the future of Psift and the potential it holds to transform digital payments. We invite you to join us on this journey, try out alpha v1 on the TestFlight App Store, and share your feedback. Together, we can create a seamless and user-friendly crypto transaction platform that empowers users worldwide.

Stay tuned for more updates and thank you for your continued support!

For more information and to stay updated with our latest developments, visit our website PsiFi.app and follow us on our social media channels.

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Hi PsiFi community and valued investors!

We are thrilled to share our progress and achievements over the past month of May, 2024. May has been an incredibly productive and transformative period for PsiFi, with significant milestones reached that pave the way for a bright future.

Reviewing our April updates we outlined several key objectives we aimed to accomplish in May, including completing the alpha version v1 of Psift, launching sign-ups and a referral program, applying for our Apple developer account, hiring a new marketing team, planning a token presale, and attending multiple conferences. We are proud to announce that we have successfully delivered on these promises and goals.

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Here’s a detailed recap of our major accomplishments and what you can look forward to:

1. Launch of Psift

We are excited to announce the official launch of Psift, the name of our app. Psift represents a major leap forward in simplifying digital payments, making crypto transactions as straightforward as sending $20, regardless of the underlying token or network — and it’s all free 🤯.

2. Completion of Psift Alpha Version v1

The alpha version v1 of our app, Psift, is now complete. This milestone is crucial in our mission to revolutionize digital payments, providing users with an intuitive and seamless experience.

3. Successful Sign-Up Launch

Our sign-up for Psift at psift.com has garnered over 90 registrations in just a few weeks. The enthusiasm and support from our community have been overwhelming and motivating. This strong initial interest validates our vision and encourages us to continue enhancing the user experience.

4. Launch of Referral Program

We introduced our referral program, allowing users to skip the line by inviting friends and family. This initiative has been well-received, driving even more interest and engagement. The referral program not only rewards our early supporters but also helps us expand our user base organically.

5. Apple Developer Account Granted

Great news! Our Apple developer account has been granted. We are set to launch our Alpha app on TestFlight in June for select investors and early supporters, making it accessible to a broader audience for testing and feedback. This step is crucial for refining the app based on real user experiences and preparing for a public release.

6. New Marketing Team Onboard

We have welcomed a new marketing team that will help us push our strong narrative in the coming weeks and months. Their expertise and energy are already making a difference, and we are excited about the campaigns and strategies they are implementing. This will significantly boost our visibility and engagement across various channels.

7. Upcoming Token Presale

We are gearing up for another token presale in the coming months. While the exact date is yet to be confirmed, preparations are in full swing, and we will keep you updated. This presale is an excellent opportunity for our community to support our growth and benefit from early access to our tokens. As a reminder, we completed a successful utility token presale of $200,000 which closed in just 2 days!

8. Publishing of Articles and Technical Deep Dives

Our commitment to transparency and education continues with the publication of multiple articles and technical deep dives. These pieces provide insights into our technology and vision, helping to keep our community informed and engaged. Stay tuned for more detailed analyses and updates on our blog and Medium page.

9. Advancements in Tokenomics

We have launched the full details on our tokenomics at token.psifi.app. Our research team is working diligently to ensure our tokenomics model is robust and sustainable, adding significant value to our ecosystem.

10. New Technical Series Launched

We have launched a new technical series detailing how Psift works under the hood. The first article is available here (and part 2 is out as well; follow us on medium.psifi.app to keep up to date): Under the Hood of PsiFi: Seamless Crypto Transactions Made Simple (Part 1). This series aims to provide a deeper understanding of our technology and its potential impact.

11. Successful Conference Participation

We attended multiple high-profile conferences, including Token2049, ETH Dubai, and Consensus (Jesper posted a video). These events were highly successful, enabling us to meet and collaborate with potential partners and stakeholders. The connections made at these conferences will play a vital role in our strategic growth and partnerships.

12. High-Value Deals

We have secured a few high-value deals that, although currently under wraps, will be revealed in detail soon. These deals are poised to enhance our platform and provide substantial benefits to our users. These partnerships are critical for expanding our capabilities and offering more value to our community.

13. On- and Offramp Partner Finalized

After thorough evaluation, we have finalized our on- and offramp partner (to be announced when fully integrated and launched). This partnership is crucial for providing seamless and efficient transactions within our ecosystem. It ensures that users can easily convert between cryptocurrencies and fiat, enhancing the usability of our platform.

14. Upcoming Attendance at ethCC

We will be attending ethCC in June. If you’re there, please come say hi! It’s a great opportunity to connect and discuss our vision and progress. Conferences like ethCC are invaluable for staying at the forefront of industry trends and networking with key players in the crypto space.

15. Development of Psift Alpha Version v2

Our team is already hard at work on the next version of the alpha (v2), incorporating feedback and new features to enhance the user experience. Continuous improvement is at the heart of our development philosophy, ensuring that we deliver the best possible product to our users.

What’s Next for June

As we move forward, our commitment to innovation, transparency, and community engagement remains steadfast. Here are our key objectives for June:

1. Make Alpha v1 Available in TestFlight

We will be making the alpha version v1 of Psift available on TestFlight. This will allow a broader audience to test the app and provide valuable feedback.

2. Make Alpha v1 Available as APK

In addition to TestFlight, we will also make the alpha version v1 available as an APK for Android users, expanding our testing base and gathering more comprehensive feedback.

3. Begin Getting Feedback for Our Potential Upcoming Seed Round

We will start collecting feedback for our potential upcoming seed round. Engaging with our community and potential investors early on will help us refine our pitch and strategy.

4. Finalize the Features to Go into Alpha v2

We will be finalizing the features to be included in the next version of the alpha (v2). Our focus is on making PsiFi a global payments platform that can send money globally — any token, any currency, to anyone, anytime, anywhere.

As we move forward, our commitment to innovation, transparency, and community engagement remains steadfast. The journey ahead is filled with exciting possibilities, and we are grateful for your continued support and belief in PsiFi’s vision. Stay tuned for more updates and join us as we revolutionize the future of digital payments.

Stay connected with us on our social channels for the latest news and updates:

• Websites: PsiFi.app and Psift.com
• Medium
• X
• LinkedIn
• YouTube
• Discord

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Warm regards,

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Jesper, the PsiFi Board, and the broader PsiFi Team

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The Consensus 2024 conference, hosted by CoinDesk, was an enlightening experience for the PsiFi team. Held in the heart of a bustling blockchain ecosystem, this event brought together thought leaders, innovators, and enthusiasts from around the globe. We were thrilled to attend, meet with great friends and partners, and further cement our commitment to building PsiFi.

Reconnecting with the Community

The blockchain and cryptocurrency space is driven by its vibrant community, and Consensus 2024 was a testament to this. We had the pleasure of engaging with numerous partners, old and new, discussing the latest trends, innovations, and challenges in the industry. These interactions not only provided valuable insights but also strengthened our relationships with key stakeholders in the space.

The Need for PsiFi

One of the most significant takeaways from the conference was the overwhelming consensus on the need for solutions like PsiFi. As the blockchain ecosystem continues to grow and diversify, the complexities associated with digital transactions have become increasingly apparent. Users face challenges in navigating different tokens, networks, and protocols, creating barriers to widespread adoption.

At PsiFi, we envision a world where digital transactions are as simple and intuitive as traditional banking. Our mission is to create a seamless, global version of Venmo that operates across borders using blockchain technology. The feedback and discussions at Consensus 2024 reaffirmed the importance of our mission. Industry leaders and enthusiasts echoed the sentiment that a user-friendly, interoperable solution is crucial for the future of digital finance.

Building for the Future

The insights gained from Consensus 2024 have further energized our efforts at PsiFi. We are more determined than ever to develop solutions that simplify and democratize access to digital finance. Our product, Psift, is designed to address the complexities and fragmentation of payments in the crypto space by offering a straightforward way to transfer value across different networks.

At the conference, we showcased Psift’s ability to allow users to send any amount of value without worrying about the underlying token or network. This approach not only appeals to crypto enthusiasts but also makes it accessible to newcomers who may not be well-versed in cryptocurrency. Our vision is to create a simple and intuitive interface that can be used by anyone, anywhere in the world.

Partnerships and Collaboration

Another highlight of Consensus 2024 was the opportunity to explore potential collaborations and partnerships. We discussed integrating with HoudiniSwap to enable users to swap any currency on any network seamlessly. This partnership will enhance Psift’s capabilities, making it even more versatile and user-friendly.

Moreover, we received valuable feedback on our pitch deck and product vision, which will help us refine our approach and better communicate our value proposition to investors and users alike. The support and enthusiasm from the community have been incredibly encouraging, and we are excited about the future possibilities.

CEO Jesper’s Message

Our CEO, Jesper, shared his thoughts and reflections on the importance of PsiFi and our experience at Consensus 2024 in a video message. His insights highlight the passion and dedication driving our team to create a revolutionary solution in the digital finance space.

You can watch his full message here:

Watch Jesper’s Message

Conclusion

Attending Consensus 2024 was a pivotal moment for PsiFi. The conference not only reaffirmed the need for our solutions but also provided a platform to showcase our vision and connect with like-minded individuals and organizations. We return from the event with renewed energy and determination to make digital finance accessible and straightforward for everyone.

As we continue to build and innovate, we remain committed to our mission of simplifying digital transactions and breaking down the barriers to adoption. We look forward to sharing more updates and milestones with you as we progress on this exciting journey.

Thank you for your continued support, and stay tuned for more from PsiFi!

Learn more at https://www.psifi.app/

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The economics of the PsiFi utility token (tokenomics) is meticulously designed to ensure stability, growth, and sustainability within its ecosystem. The allocation and vesting schedules of $PSI tokens are crafted to balance early incentives with long-term goals, creating a robust foundation for both the community and investors.

Let’s delve into the intricacies of PsiFi’s tokenomics to understand why it’s a remarkable design beneficial for all stakeholders. First, here is a general overview of the token allocations:

PsiFi Tokenomics

Private Sales: Angel, Seed, and Series A

PsiFi has allocated 11.16% of its total token supply to private sales, including angel investors (friends and family), seed rounds, and Series A funding. This allocation is modest compared to industry standards, allowing for substantial capital raises while avoiding excessive dilution of token value.

The vesting schedule is thoughtfully ramped, meaning tokens are gradually released over time rather than in large, abrupt unlocks. This approach minimizes the risk of significant sell pressure at key dates, protecting the token’s market value. Additionally, no tokens are allocated at the Token Generation Event (TGE), further reducing early market volatility and supporting stable growth.

Series A terms will be finalized before the TGE, ensuring they are less favorable than seed terms to reward early investors appropriately.

Ecosystem and Working Treasury

The largest portion of $PSI tokens, 39%, is dedicated to the ecosystem and working treasury. This substantial allocation is designed to fund community rewards and ecosystem initiatives, ensuring continuous support and engagement.

A long vesting schedule underscores the commitment to the project’s longevity, giving confidence to the community and aligning with key market cap and circulating supply milestones. The distribution is also ramped, ensuring a smooth release of tokens that avoids sudden influxes into the market.

A small TGE allocation ensures tokens are available from day one to support the ecosystem, with careful planning to maintain token health even if all tokens are not immediately used.

Liquidity and Open Market Allocation

A combined 15.5% of tokens is allocated for liquidity, market makers, and key opinion leaders (KOLs). This allocation ensures that the team can maintain sufficient liquidity on decentralized exchanges (DEXs) and prepare for future centralized exchange (CEX) listings.

The liquidity tokens have a long vesting schedule, allowing the team to strategically manage liquidity over the initial years. The allocation for market makers and KOLs includes a small initial unlock, providing flexibility for the team to allocate these tokens based on the availability of services.

Team, Advisors, and Marketing

PsiFi has set aside 19.75% of its tokens for the team, advisors, and marketing efforts. This allocation is standard within the industry and demonstrates the team’s commitment to the project’s long-term success.

Team Allocation (13.75%):

• The portion specifically allocated for the team alone is below standard rates, showcasing their dedication and long-term vision for PsiFi.
• The team’s tokens are vested over a long period (32 months), with no large unlock cliffs, demonstrating their commitment to the project’s sustained growth. This gives users and potential investors confidence in the team’s focus on long-term success.

The advisors and marketing funds have small initial cliffs, allowing for immediate utilization for marketing efforts and attracting quality advisors without causing market instability.

Airdrop and Cashback Rewards

A smaller portion, 2%, is reserved for airdrops and cashback rewards. This allocation is designed to foster collaboration with other projects and provide marketing opportunities without adversely affecting the token’s market health.

The cashback rewards have a long vesting period, ensuring consistent rewards to the community over time. The airdrop tokens are available at the TGE, allowing for immediate allocation and claims from users, enhancing early engagement.

Sustainable Reward and Burn Schedule

PsiFi Research is actively working on creating a sustainable reward and burn schedule to ensure the health of our token. This was announced in a prior article. We have confirmed the fundamental structure of this and that it will work. This initiative is crucial for maintaining a balanced token supply, avoiding inflationary or deflationary extremes, and ensuring that the ecosystem remains vibrant and economically sound.

Conclusion

PsiFi’s tokenomics reflect a well-balanced approach, combining short-term incentives with long-term stability. The thoughtful allocation and vesting schedules ensure that the project can grow sustainably, with minimized risks of market volatility. This design not only attracts investors but also builds a strong, confident community, making PsiFi a truly exceptional project in the crypto space.

Join our presale today at presale.psifi.app

Learn more about us at psifi.app

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Welcome to the first installment of our mini-series where we take you behind the scenes of PsiFi, the next-generation app for effortless and secure crypto payments.

In this series, we’ll explore both the sleek user experience and the robust backend technology that powers our platform. Whether you’re a crypto enthusiast, a tech-savvy developer, or an investor, you’ll gain valuable insights into how PsiFi is transforming digital finance.

Over the past month, our team has been hard at work building PsiFi, and we are now just three weeks (yes) away from launching our private alpha. This alpha phase will see all components connected — frontend, backend, and on-chain — running on the testnet to ensure everything operates seamlessly before our public release.

Our user experience (UX) is finalized, and while we’ve already reported on this, we’re continuously making small tweaks to enhance it further. As we bring on initial users in our alpha phase, we’ll focus heavily on user research, listening closely to our early supporters to identify and solve their pain points.

We will present a diagram of our payment flow that is just a small piece of the entire system we’re building. In this series, we’ll delve into how each part of our system operates, starting with the basics and moving into more technical details. We’re excited to share our progress and vision with you and show how PsiFi is poised to revolutionize the way we handle crypto transactions.

Let’s set out to explore the inner workings of PsiFi and demonstrating why our app is a game-changer in the world of digital finance!

The PsiFi Payment Flow

Initiating a Payment

The first step in the PsiFi payment process is initiating a payment. When users open the app, they are greeted with a clean and intuitive interface that displays their wallet balances.

The app supports multiple cryptocurrencies (and thus, we can think of it as a multi-currency Venmo experience), including Avalanche, Ethereum, and Solana, providing users with flexibility in choosing the currency they wish to transact with.

This initial step is designed to be seamless, allowing users to quickly access their balances and initiate a payment with just a few taps.

Choosing Currency, Amount, and Receiver

Once the user initiates a payment, they proceed to select the currency, enter the amount, and choose the receiver. The currency selection process is straightforward, offering a variety of supported cryptocurrencies. The interface is user-friendly, ensuring that selecting the desired currency is quick and simple.

Users can then enter the exact amount they wish to send, with the app providing clear feedback to ensure accuracy. Choosing the receiver is equally intuitive, with options to select by PsiFi username, wallet address, or domain name.

The app performs verification checks to prevent errors and ensure a smooth transaction.

Simulating the Transaction

Before finalizing the payment, the transaction is simulated to ensure everything is in order. During this stage, the app performs several security checks, including verifying transaction limits and thresholds. A background check on both the sender and receiver is conducted to ensure compliance with security protocols. Additionally, the app calculates the risk factor and assesses any potential issues.

If all checks are passed, the transaction simulation proceeds positively. However, if any issues are detected, the transaction is flagged for review. This step is crucial in ensuring the security and success of each transaction.

Posting the Transaction on Chain

After a successful simulation, the transaction is posted on-chain. This involves routing the transaction on the blockchain for execution. Users pay the necessary transaction fees using their personal cryptocurrency. The app ensures that these fees are clearly communicated and deducted appropriately.

Following this, the wallet balances are updated in real-time on the dashboard, reflecting the transaction immediately.

This real-time update ensures transparency and keeps users informed of their current balances.

Finalizing the Transaction and Notifications

The final step involves notifying both the sender and receiver about the transaction status. Once the transaction is posted on-chain, both parties receive instant notifications confirming the successful transaction. The app displays a confirmation screen with detailed transaction information, providing transparency and building trust.

Real-time notifications and updates are crucial for maintaining user confidence and ensuring a smooth user experience.

Conclusion

PsiFi is committed to delivering an unparalleled user experience combined with robust security features.

I’m proud of our team and impressed with our rapid progress. Our communication and protocols are strong, and we’re well ahead on reaching the beta version. We’re grateful for the community’s support and eager to address your pain points and advance this space together.
- Jesper Kristensen, CEO

We are excited about the upcoming launch of our private alpha and look forward to gathering feedback from our initial users. Your insights will be invaluable as we continue to refine and enhance PsiFi.

Stay tuned for the next post in this series, where we will dive deeper into the technical intricacies and innovative features that make PsiFi a game-changer in the world of crypto payments.

We invite you to follow us on our social media channels and visit our website to stay updated on our progress and join the PsiFi community. Together, let’s build the future of digital finance.

Follow us on Social Media:

• x.psifi.app
• linkedin.psifi.app
• youtube.psifi.app
• discord.psifi.app

Visit our Website and subscribe to be an early supporter:
www.psifi.app

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Let’s take you back to memory lane.

Early 2021, the financial world saw an event that shook the foundations of traditional investing: the GameStop saga. A group of retail investors, charged by the Reddit community WallStreetBets, took on Wall Street giants and started a revolution in the stock market. Their target? GameStop, a struggling video game retailer that became the battleground for a war between the establishment and the masses.

GameStop’s challenges started from a combination of factors. One issue was the dwindling relevance of physical video game retailers due to the rise of digital downloads and online sales platforms. Also, GameStop faced pressure from investors who believed its business model was outdated and unsustainable in the long term. This led investors betting against GameStop’s stock to keep declining. And it did decline further…

After that, what ensued was a rollercoaster of events. Someone came to Gamestop’s rescue by buying a percentage of the company’s shares enough to get him a seat at the board. This spurred WallStreetBets members to love GameStop’s stocks because of this man’s, Ryan Cohen, actions. With GameStop’s stock price soaring to unimaginable heights, causing massive losses for hedge funds that had bet against it through short selling. In the chaos, one name became synonymous with controversy: Robinhood, the popular trading app that prides itself on “democratizing finance.” However, when the heat turned up, Robinhood halted trading on GameStop and other volatile stocks, leaving its users feeling betrayed and sparking outrage across the internet.

They disabled the “buy” button, but left the “sell” button active. This single action made the GameStop stock plummet. In the end, the legacy traditional finance establishments — Wall Street — profited, while the masses (the retail investors; you and I) lost.

RobinHood Delisted Crypto Assets

Last year, Robinhood delisted certain cryptocurrencies from its trading platform following the Securities and Exchange Commission’s classification of them as unregistered securities. Robinhood removed Cardano (ADA), Polygon (MATIC), and Solana (SOL) on June 27, 2023, after being named in SEC lawsuits against major crypto exchanges Binance and Coinbase. Users with these assets in their Robinhood accounts at the time of delisting had them automatically sold on the market.

Imagine you bought a well performing crypto asset, and then have it sold without your consent because some governmental oversight had issues with the innovators of the asset.

Enter PsiFi

We’re what Robinhood thought it was; maybe, still think it is. We are democratizing finance, using an app.

PsiFi is built on the Avalanche blockchain, where trading is unstoppable and censorship-resistant. Unlike Robinhood, PsiFi operates entirely on-chain, meaning not even its creators can halt trading or manipulate prices. It’s trustless: you don’t even need to trust us. There are no middlemen, market makers, or hedge funds who can influence your trading and asset transfer choices.

We can’t delist crypto assets. We put you in control of your finances and your financial journey; we work for you, not for Wall Street.

Learn more about us here: PsiFi.app

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In an ambitious move towards transforming the credit landscape, PsiFi has announced a strategic partnership with Stormbit, a pioneering peer-to-peer lending protocol, and Quantum3Labs, a leading blockchain development firm based in Singapore. This collaboration is set to redefine unsecured onchain credit, creating a system that is both inclusive and empowering. This was also outlined in our whitepaper.

Stormbit operates under the ethos of “Your loans, your terms: Customized lending for a more inclusive, financially empowered world.”

Their platform enables users to participate in peer-to-peer lending on their own terms, following a trust based philosophy, thus widening access to financial services for a diverse audience. In collaboration with PsiFi, Stormbit will utilize their decentralized finance expertise and the experience gained from their lending services provided to SMBs to jointly develop innovative credit solutions. In this partnership, Quantum3Labs will leverage their expertise in decentralized finance to co-develop innovative credit solutions alongside PsiFi leveraging Stormbit’s Borrower Explorer.

Adding a robust technical backbone to the partnership, Quantum3Labs boasts a team of seasoned blockchain developers. Their mission statement, “With a team of highly experienced blockchain developers, Quantum3Labs is here to support your journey into the world of Web3. Our comprehensive blockchain solutions cater to enterprises and ambitious startups alike. Together, let’s forge a path to your Web3 success with our history of successful projects and skilled developers,” underscores their commitment to advancing the blockchain ecosystem.

Our CEO passionately outlined the vision for this partnership, saying, “One of my deepest passions is transforming the credit scoring system, taking it away from the obscure practices of private entities and banks that too often dictate financial opportunities. The current system is fraught with disparities and unfair practices. Our goal is to democratize and globalize this process, leveraging blockchain technology to ensure transparency and fairness. This way, financial empowerment is accessible to everyone, everywhere.” This initiative aims not just to alter how credit is scored but to transform the entire financial interaction into a transparent, fair, and globally accessible system.

The combined expertise of PsiFi, Stormbit, and Quantum3Labs is expected to deliver a groundbreaking platform that not only meets the current demands for transparency and fairness in financial services but also sets new standards for the future of credit. This partnership represents a significant step forward in making financial services more fair and accessible, paving the way for a more inclusive global financial ecosystem.

Stay tuned as PsiFi, Stormbit, and Quantum3Labs forge ahead on this exciting venture, promising to bring revolutionary changes to the world of credit and beyond.

Follow us across our socials and visit us today at PsiFi.app to learn more!

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Today we’re introducing PsiFi Research (PFR).

A team of highly skilled people initially dedicated to creating a stable and sustainable economic model for our utility token, ensuring optimal inflation and deflation levels to maintain its value and utility.

PFR is focused on establishing a robust mathematical framework for $PSI, the team’s mission will evolve to encompass yield optimization for our users and the development of advanced solutions within our technology stack. This forward-looking approach positions PsiFi to innovate and enhance user engagement and profitability in the evolving Web3 landscape.

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Introduction: The Importance of Sustainable Token Economics

As digital economies evolve, the creation of robust and sustainable economic models is crucial. At PsiFi, we are committed to integrating rigorous mathematical principles into the foundation of our utility token, $PSI, ensuring its effectiveness and stability within the digital marketplace.

Led by our Head of Research Pablo Cianci with a PhD and PostDoc in applied mathematics, our dedicated team is at the forefront of developing a mathematical framework for $PSI. John Shutkind, an esteemed applied physicist from Cornell with a wealth of experience at Lockheed Martin, plays a pivotal role in this effort, focusing specifically on advancing our token’s economic models. Joining the team is Peter Steffensen, who brings a PhD in Mathematics and a decade of experience in financial modeling, banking, and web3, already beginning to lay the foundational work for our future projects.

Progress and Innovations in Modeling

Initial Successes

Our initial models have successfully demonstrated stability in scenarios where it’s most crucial, validating the fundamental soundness of our approach. This success is a testament to our team’s expertise and the robust foundation of our research. A follow-on article will go out within 2 weeks on this.

Advancements in Complexity

Building on our initial models, we have developed more complex and expressive frameworks that more accurately reflect the intricacies of our system. Currently, our efforts are concentrated on analyzing and identifying the most effective ways to modulate $PSI’s inflationary and deflationary pressures.

$PSI: A Utility Token for the Future of Finance

$PSI transcends the traditional utility token model by integrating seamlessly into the Web3 ecosystem. Unlike similar TradFi comparable platforms with fiat-backed tiers, $PSI supports a dynamic staking mechanism and underpins transactions throughout our network and the broader DeFi ecosystem as well, fostering greater engagement, synergy, and is natively integrated within the web3 ecosystem. We will provide more details on this in a later article.

Looking Ahead: Our Commitment to Transparency and Innovation

In the coming weeks, we will be sharing our research findings and study details with our community. This ongoing dialogue underscores our commitment to transparency and sets the stage for continual innovation. As we delve further into the mathematical foundations of $PSI, our goal is to not only build trust within our community but also to establish new benchmarks for token economics.

Conclusion: The Future of $PSI

Stay tuned as we continue to unveil the complexities and the promising potential of $PSI. Our research is ongoing, and we are excited about the future possibilities as we continue to push the boundaries of what is achievable in token economics.

Get to know us today at psifi.app

Dear PsiFi Fans,

As we edge closer to the much-anticipated alpha release of our consumer payments app, I am thrilled to share some crucial milestones and exciting updates with all of you who have supported our journey thus far.

Beyond Payment Processing

PsiFi is not just another consumer payments app — we are setting out to revolutionize how consumers interact with digital finance, making it universally accessible and infinitely scalable. This month has been pivotal in laying down the infrastructure to ensure that PsiFi becomes a household name in global finance.

Top Updates

• Design and Development: We’ve completed our UX design and have spent the recent week building out comprehensive Figma libraries. This ensures a seamless and intuitive user experience, tailored to global needs.
• Team Expansion: Exciting news — our UX designer, Ina, has transitioned to a full-time role. With her PhD in Psychology from TUM and deep understanding of user interaction, she is a fantastic addition to our core team.
• Funding Success: Our presale tranche 1 exceeded expectations, selling out in just three days and raising $200,000 from global supporters. This grassroots support is vital as we build PsiFi into a globally distributed app.
• Strategic Partnership: We are proud to announce the Group NDV as a strategic partner. With their extensive experience in market making, trading, and payments, Group NDV will provide invaluable expertise and support as we scale our operations globally.
• Upcoming Opportunities: We are launching tranche 2 of our funding this week, aiming to raise an additional $300,000. We’re also introducing a referral program to reward our community with $PSI tokens and unique usernames for spreading the word about PsiFi.
• Strategic Growth: We’ve engaged with an experienced firm to refine our go-to-market strategy. Under the guidance of our CMO, Jian, we are making great strides and gearing up for a strong market entry.
• Global Presence: Our participation at Token2049 and ETH Dubai has not only confirmed the demand for PsiFi but also multiplied our connections within the industry. Consequently, we will be extending our stay to attend the Fintech Summit in Dubai.
• Product Leadership: Our Head of Product, Constantine, has been instrumental in steering our development efforts, ensuring that we remain on track for the alpha release in mid-June.
• Marketing Initiatives: Led by our Head of Marketing, Josh, our efforts are now focused on growth. We’ve set up an exclusive Telegram channel for deeper engagement — let me know if you’d like to join (subject to requirements)!
• Roadmap and Tokenomics: Check out our detailed plans and token distribution at token.psifi.app and roadmap.psifi.app.

Looking Forward

Our vision to democratize finance is rapidly becoming a reality. Stay tuned for our upcoming technical announcements as we refine the architecture of PsiFi.

Thank you for your continued support and belief in our mission. We are on the brink of something truly spectacular.

Stay Connected

Engage with PsiFi across our official social platforms to stay updated and get involved:

• LinkedIn: linkedin.psifi.app for industry connections and FinTech-focused updates.
• YouTube: Watch our product demos at youtube.psifi.app.
• Twitter/X: Follow real-time updates at x.psifi.app.
• Discord: Join our community and ask questions at discord.psifi.app.
• Email Safety: Contact us securely at [email protected] or reach me directly at [email protected]. Note: We never ask for money via email. Stay safe.
• Linktree: Bookmark linktree.psifi.app for quick access to all our key links.
• Domains: Our official domains are psifi.io and psifi.app. For our token presale, visit psifitoken.app (tranche 2 going live soon).
• Brand: Please find our brand details and assets at brand.psifi.app
• Medium (here): We post larger updates and progress reports (this one) medium.psifi.app

Please do not hesitate asking any questions about our product or mission. Thank you very much for your continued support!

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Warm regards,

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Jesper Kristensen, Ph.D.
Co-Founder & CEO, PsiFi Inc
For inquiries: [email protected]

Brand kit available at: brand.psifi.app

We’re thrilled to announce a groundbreaking partnership between PsiFi and Locker, set to revolutionize the landscape of personal finance. This collaboration marks a significant milestone for PsiFi, as it paves the way for the implementation of an Acorns-like strategy, empowering users to elevate their investment game like never before.

At the heart of this partnership lies the integration of ERC-7579, an extension of ERC-4337, which unlocks unparalleled modularity within smart accounts. Just as one installs apps on a smartphone, ERC-7579 allows users to “install” modules onto their smart accounts, granting special privileges and capabilities. This modular approach enables granular control over transactions and investments, providing users with unprecedented flexibility and customization options.

What does this mean for PsiFi users?

Here are the key benefits taking center stage:

1. Round-Up Savings: Seamlessly round up transactions to the nearest dollar and automatically invest the spare change, effortlessly building wealth over time.

2. Account Automation: Unlock the power of automation for offramps, yield generation, and more, streamlining financial management and maximizing efficiency.

3. Session Keys: With session keys, PsiFi gains the ability to take limited actions on users’ behalf without requiring authorization for every transaction, enhancing user experience without compromising security.

But that’s not all. With Locker now accessible to PsiFi users, a world of possibilities unfolds:

4. Automated Fund Routing: Tell your employer or clients to pay you at your PsiFi address and watch your crypto get automatically routed where you want it — all within 30 seconds of deposit. Set up your PsiFi to automatically route funds to your preferred channels every time payments are received, including off-ramping to your bank, swapping for any token, saving with a time lock, sending to a hot wallet, or directing to a yield pool.

On the backend, Lockers are configurable, modular smart accounts that are fully compliant with ERC-4337 and ERC-7579, giving you full control over your account’s programmability.

A Leap Forward

This partnership represents a huge advancement for PsiFi, as we strive to enhance the user experience and empower individuals on their financial journey. By leveraging Locker’s expertise and support in implementing 7579-compatible smart accounts, we’re poised to deliver a seamless and secure platform that sets new standards in personal finance.

Join us on this exciting journey to unlock the future of finance, one innovative partnership at a time. Stay tuned for more updates as we continue to push the boundaries of what’s possible in the world of fintech.

Sign up for early access at psifi.app

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