0x4007
commented
1 year ago This should not be an issue. This doesn't look like a project specification. This should probably be in a document in the repository but I'm unsure what this is a deliverable for.
ubiquibot[bot]
This research is part of a larger research on launching Ubiquity Cards The purpose is to define the exact payment cases to communicate with payment providers.
Crypto
Steps
Safe apps for payment As Ubiquity uses Safe, we should research Safe apps for payments https://app.safe.global/
https://github.com/bh2smith/safe-airdrop https://llamapay.io/ https://sablier.finance/ https://www.superfluid.finance/ It seems Safe supports payment streams because most of the payment apps are related to streams.
Fiat
Incoming international fiat transfers can be associated with additional fees for receivers. This is applicable to the cards as well as banking accounts, and do not applicable to non-banking transfers (Western Union, etc)
Option 1
Process view
Legal view
Option 2
Payment request abilities popular among freelancers https://www.payoneer.com/solutions/send-payment-request/ https://wise.com/help/articles/2WvlZST6DiDMUBhyl1N4zM/how-do-i-request-money
Other payment methods
Pay by fiat gift cards
Gift cards are purchased for crypto. Then gift cards can be spent as fiat.
For example https://www.bitrefill.com/ https://tokenstore.io/ https://coingate.com/gift-cards
Binance services
Internal transfer between Binance accounts in crypto and several fiat currencies via API https://www.binance.com/en/support/faq/how-to-make-internal-transfer-on-binance-360037037312 https://developers.binance.com/docs/binance-pay/api-wallet-transfer
Crypto gift cards via API https://www.binance.com/en/blog/gift-card/unlock-business-opportunities-with-binance-gift-card-solution-2745950951180064643 https://www.binance.com/en/gift-card https://www.binance.com/en/support/faq/how-to-create-dual-token-binance-gift-cards-via-api-92e59df4caf649409a256c3e6b1e1739
Binance pay - crypto and several fiat currencies (as I understand, currently manually) https://merchant.binance.com/en/products/payout https://www.binance.com/en/support/faq/how-to-send-cash-using-binance-pay-72dc08f042f84f92824ea9a86a491917
Payments inside Ubiquity wallet
User experience like in Binance - usable transfers inside the Ubiquity wallet. The wallet is connected to multiple payment methods - Web3 wallets, bank cards, wire transfers, etc.
Quick implementation can be done with white-label solutions (not Web3 wallets)
White-label platform with different asset classes Great for a truly all-in-one solution. https://www.bitpanda.com/en/tech
White-label wallets Credit cards and everything related should be created separately. https://sdk.finance/digital-wallet-solution/ https://youtap.com/products/card-management-and-processing/white-label-digital-wallet-and-card/
Separate card issuing from card payments
For the Web3 wallets we use approach "Bring your own" and do not insist on use, for example, Ubiquity wallet (based on Safe). For the bank cards we want to offer freelancers our own cards. It is not clear will it be possible to use "Bring your own" for the cards.
A good direction is to facilitate use of the Ubiquity cards not only for getting paid from the DevPool, but getting paid from other places as well. The strategy is similar to the Payoneer pisition for the Upwork and other freelance marketplaces. Such approach is not only makes Ubiquity cards nore attractive for freelancers, but also is helpful for the legal purposes.
A good option at the moment is to open a non-crypto company in a legit country. It should be a separate company not related to crypto (for example DevPool company). It will increase chances of issuing cards by top card issuers for freelancers - Wise, Payoneer, and potentially Stripe.
Roles of the companies:
This way not only helps to issue cards with leading card issuers but also protects us from the risks of a possible negative change of the regulation of card issuing by crypto companies.
In the middle of 2024, the situation can significantly change with the European MiCA crypto regulation. Stablecoins are regulated by the MiCA.
In a positive case, if Ubiquity Dollar approved by regulators, we can start issuing cards from Ubiquity itself. In a negative case, if Ubiquity Dollar does not approved by regulators, we will have to look for the card issuing services outside of Europe. Card issuers can also change the requirements to the crypto companies.
The proposal is to move in 2 steps:
As a next step Check other available non-custodial wallets with bank cards