Global adoption Fiat-to-ADA On-ramp and ADA-to-Fiat off-ramp connecting existing wallets worldwide

[GENERAL] Name and surname of main applicant

Daniel Garcia Perez

[GENERAL] Are you delivering this project as an individual or as an entity (whether formally incorporated or not)

Entity (Incorporated)

[GENERAL] Co-proposers and additional applicants

VirtuaBroker, an exchange with global partners that enables on-ramp and off-ramp in many countries

[GENERAL] Please specify how many months you expect your project to last (from 2-12 months)

4

[GENERAL] Please indicate if your proposal has been auto-translated into English from another language

No

[GENERAL] Summarize your solution to the problem (200-character limit including spaces)

Virtuabroker's proprietary technology and license, provides global fiat-to-ADA onramps , enhancing ADA accessibility worldwide in different currencies, being able to receive ADA on existing wallets.

[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?

No

[GENERAL] If YES, please describe what the dependency is and why you believe it is essential for your project’s delivery. If NO, please write “No dependencies.”

No dependencies

[GENERAL] Will your project’s output/s be fully open source?

No

[GENERAL] Please provide here more information on the open source status of your project outputs

We will open source the APIs and SDKs necessary for integration with our platform, allowing developers to build upon our services and contribute to the Cardano ecosystem.

[METADATA] Horizons

Financial Services

[SOLUTION] Please describe your proposed solution

About Virtuabroker:

Virtuabroker is a crypto exchange with proprietary technology specializing in cross-border payments. Our infrastructure facilitates seamless and efficient financial transactions across borders, leveraging blockchain technology, we can onframp and offramp in many countries.

The Problem:

Despite Cardano's growth, ADA accessibility remains limited globally due to the lack of fiat-to-ADA onramps and cross-border payment solutions. Users in Latin America, Africa, and Asia face challenges acquiring ADA directly with local currencies, hindering adoption and financial inclusion.

Our Solution:

We propose to integrate ADA into Virtuabroker's exchange platform to provide global fiat-to-ADA onramps and ADA-to-fiat in many countries with their local currencies, sending ADA to existing wallets.

Key Components:

• Offer Purchase of ADA on Buycrypto:
• Enable users to purchase ADA directly through our Buycrypto platform, connecting to existing wallets in the ecosystem.
• Offer Trading of ADA:
• Introduce ADA trading pairs on our exchange platform starting Q1 of 2025.
• Fiat-to-ADA Onramps in Multiple Regions:
• Latin America: Onboarding BRL (Brazilian Real), COP (Colombian Peso), VES (Venezuelan Bolívar), MXN (Mexican Peso) to ADA.
• Africa: Establish fiat onramps from various African currencies to ADA.
• Asia: Implement fiat onramps from Asian currencies to ADA.

Approach Rationale:

By leveraging our existing infrastructure and expertise, we can quickly expand ADA accessibility to underserved markets. Our established presence positions us to effectively onboard users and promote Cardano adoption.

Engagement and Impact:

• Users in Emerging Markets:
• Provide direct access to ADA, empowering users with financial tools for economic growth.
• Merchants and Businesses:
• Enable acceptance of ADA as payment, fostering a crypto-friendly economy.
• Developers and Partners:
• Offer open APIs and SDKs for integration, enhancing the Cardano ecosystem.

Demonstrating Impact:

• Increased ADA Transactions:
• Track growth in ADA purchases and trades on our platforms.
• User Adoption Metrics:
• Monitor new users acquiring ADA through our fiat onramps.
• Merchant Adoption:
• Measure merchants accepting ADA via our payment gateway.

Uniqueness and Benefits:

Our solution uniquely combines proprietary technology and market presence to bridge fiat currencies and ADA. This benefits:

• Cardano Ecosystem:
• Increases ADA accessibility and transaction volumes.
• Local Economies:
• Provides financial inclusion and access to global markets.
• Users and Merchants:
• Offers new financial tools and payment options.

This initiative aligns with Cardano's mission of promoting financial inclusion and decentralized finance.

[IMPACT] Please define the positive impact your project will have on the wider Cardano community

Value to the Cardano Community:

• Enhanced ADA Accessibility:
• Lower barriers to entry, promoting widespread ADA adoption.
• Increased Transaction Volumes:
• Contribute to higher network activity and liquidity.
• Financial Inclusion:
• Empower unbanked and underbanked populations.
• Merchant Adoption:
• Expand ADA's real-world utility.

Measuring Impact:

• User Acquisition Metrics:
• Number of new users purchasing ADA via our platforms.
• Geographical Reach:
• Number of countries and currencies supported.
• Transaction Volumes:
• Amount of ADA traded and transacted.
• Merchant Adoption Rates:
• Number of merchants accepting ADA.
• Cross-Border Transactions:
• Volume and value facilitated using ADA.

Sharing Outputs and Opportunities:

• Open APIs and SDKs:
• Foster collaboration with developers.
• Community Engagement:
• Share updates, reports, and success stories.
• Educational Initiatives:
• Provide resources and workshops.
• Partnerships:
• 
  
• Collaborate with other Cardano projects.

[CAPABILITY & FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?

Our Capability:

Virtuabroker has a proven track record in developing and operating crypto exchange platforms and cross-border payment solutions.

Team Expertise:

• Daniel Garcia, CEO:
• Over 10 years of experience in blockchain development and fintech solutions.
• Raul Vila, Senior Blockchain Developer:
• Expertise in smart contracts and blockchain integrations.
• Vilius, Compliance Officer:
• Ensuring regulatory compliance across jurisdictions.
• Andres Marin, Project Manager:
• Coordinating project activities and resources, also a dev.
• Donato Espinosa, UI/UX:
• Making things pretty

Previous Successes:

• Launched Virtuabroker's exchange platform supporting multiple cryptocurrencies.
• Deployed Enviadinero (our remittances app), serving users in various countries.

Validating Feasibility:

• Technical Feasibility:
• Conduct thorough analysis and prototyping for Cardano integration.
• Regulatory Compliance:
• Leverage existing frameworks to ensure compliance.
• Market Demand:
• Market research indicates strong demand for ADA.
• Risk Management:
• Robust processes to handle technical and operational risks.

[PROJECT MILESTONES] What are the key milestones you need to achieve in order to complete your project successfully?

Milestone 1: Analysis and Planning

• Duration: 2 weeks
• Outputs:
• Detailed project plan and technical requirements.
• Regulatory compliance assessment.
• Acceptance Criteria:
• Approval of project plan.
• Identification of regulatory hurdles and mitigation strategies.

Milestone 2: Integration of ADA Purchase on Buycrypto

• Duration: 4 weeks
• Outputs:
• ADA listed on Buycrypto platform.
• Users able to purchase ADA with BRL, COP, VES, MXN.
• Acceptance Criteria:
• Successful test transactions.
• Compliance checks passed.

Milestone 3: Fiat-to-ADA Onramps in Africa and Asia

• Duration: 6 weeks
• Outputs:
• Onramps established for African and Asian currencies.
• Acceptance Criteria:
• Users able to purchase ADA with local currencies.
• Successful end-to-end testing.

Milestone 4: ADA Trading on Virtuabroker Exchange

• Duration: 4 weeks
• Outputs:
• ADA trading pairs listed.
• Trading interface updated.
• Acceptance Criteria:
• Users are able to trade ADA.
• Platform stability confirmed.

Final Milestone: Project Completion Report and Video

• Duration: 2 weeks
• Outputs:
• Comprehensive project report.
• Video presentation summarizing the project.
• Acceptance Criteria:
• Submission of report and video.
• Approval of final deliverables.

[RESOURCES] Who is in the project team and what are their roles?

Daniel Garcia, CEO - Project Lead

• LinkedIn: https://www.linkedin.com/in/danigarciaperez/
• Role: Overseeing technical aspects and Cardano integration.

Raul Vila, Senior Blockchain Developer

• LinkedIn: https://www.linkedin.com/in/raulvila/
• Role: Developing smart contracts and blockchain integrations.

Vilius, Compliance Officer

• LinkedIn: https://www.linkedin.com/in/vilius-patkauskas/
• Role: Regulatory compliance.

Andres Marin, Project Manager

• LinkedIn: https://www.linkedin.com/in/andresmalopez/
• Role: Coordinating activities, timelines, and resources, also developing.

Donato Espinosa, UX/UI Designer

• LinkedIn: https://www.linkedin.com/in/donatoespinosa/

Role: Designing user interfaces.

[BUDGET & COSTS] Please provide a cost breakdown of the proposed work and resources

Assumptions:

• CTO Rate: $90/hour
• Senior Developer Rate: $75/hour
• Compliance Officer Rate: $70/hour
• Project Manager Rate: $50/hour
• Designer Rate: $50/hour
• 1 ADA = $0.35 USD

Project Costs:

• Milestone 1: $4,500 => 12,857.14 ADA
• Milestone 2: $9,000 => 25.714,28 ADA
• Milestone 3:  $12,100 => 34.571,42 ADA
• Milestone 4:  $10,000 => 28.571,42 ADA
• Final Milestone: $4,000 => 11.428,57 ADA
• Infrastructure Costs: $200 month x 12 months = $2,400 => 6,857.14 ADA

Total Requested Funds: $42,000 => 120,000 ADA

[VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?

Our project represents excellent value for money:

• High Impact: Significantly expands ADA accessibility globally.
• Efficient Use of Funds: Leverages existing infrastructure, reducing costs.
• Experienced Team: Ensures high-quality deliverables.
• Sustainable Growth: Drives long-term ADA adoption.
• Economic Inclusion: Aligns with Cardano's mission.

Our costs are based on industry-standard rates and reflect fair compensation for required skills and expertise.