Paymobil is a mobile app that enables users to send and request money globally in seconds using US dollar-backed stablecoins, specifically USD Coin (USDC) on the Polygon Network. The platform eliminates transaction fees, allowing users to securely hold and transfer funds without the delays and costs associated with traditional banking methods.
Funding
Funding not disclosed
Founders
Product
Problem
Traditional cross-border payment systems often involve high transaction fees and lengthy processing times, creating friction for users sending money to friends and family internationally. Existing peer-to-peer payment services may also lack the security and transparency desired for holding and transferring funds.
Solution
Peg is a mobile wallet that enables users to buy, save, and send funds globally using US dollar-backed stablecoins, specifically USDC and USDT on the Polygon network, and USDC on Base. The platform allows users to send and request money to any email or phone number worldwide, with transactions occurring in seconds and without transaction fees. Peg leverages stablecoins to provide a secure and efficient method for holding and transferring funds, bypassing the delays and costs associated with traditional banking systems. The wallet employs a user-friendly interface, abstracting away the complexities of the underlying blockchain technology.
Target Audience
The primary target audience includes individuals who regularly send money internationally, those seeking a secure and efficient way to hold and transfer funds, and users looking for an alternative to traditional banking systems for cross-border payments.
Features
- Supports USDC and USDT stablecoins on the Polygon network, and USDC on Base
- Send and request money globally to any email address or phone number
- Fast transactions that occur in seconds
- No transaction fees for sending or receiving money
- Non-custodial wallet with private key created and encrypted on the user's device
- Private key backup to iCloud or Google Drive
- Monthly audits by a top-five US accounting firm to ensure USDC is 100% backed by real dollars