A smart contract-based solution for splitting remittance payments to multiple recipients in a single transaction on the Celo blockchain.

Mission*: Democratize access to affordable, efficient remittance payments for underserved communities using blockchain technology.

Our Goals

1. Reduce Costs: Lower remittance fees from 6.8% to near-zero (only gas fees)
2. Increase Speed: Enable instant, 24/7 cross-border payments
3. Expand Access: Reach the unbanked through mobile-first Celo blockchain
4. Simplify UX: Make crypto payments as easy as traditional banking
5. Ensure Security: Use audited smart contracts and battle-tested protocols

Traditional remittance payments face several challenges:

1. Multiple Transaction Fees: Sending money to multiple family members or recipients requires separate transactions, each incurring fees
2. Time-Consuming Process: Users must manually execute each transaction, waiting for confirmations
3. Higher Gas Costs: Multiple transactions mean paying gas fees multiple times
4. Complex Coordination: Tracking multiple payments across different recipients is error-prone
5. Limited Accessibility: Traditional banking systems often exclude unbanked populations in developing countries

Real-World Impact

• 6.8% global remittance fees (World Bank 2024) - one of the highest financial services costs
• $656 billion sent as remittances globally in 2024
• 1.7 billion adults remain unbanked worldwide
• Families often split remittances among multiple recipients (children, elderly parents, extended family)

Celo Remittance Splitter is a decentralized application (dApp) that allows users to:

✅ Split payments to 2-5 recipients in a single transaction
✅ Save on gas fees by batching transfers
✅ Reduce transaction time from minutes to seconds
✅ Use mobile-first Celo blockchain for accessibility
✅ Leverage stablecoins (cUSD) to avoid volatility
✅ Operate without traditional banking infrastructure

How It Works

1. User approves the smart contract to spend cUSD tokens
2. User specifies recipient addresses and amounts in the web interface
3. Smart contract validates inputs and executes all transfers atomically
4. All recipients receive their funds in one blockchain transaction

Africa