Last updated 5 months ago
Mobile wallet users are underserved by traditional micro‑lenders, lacking formal credit history or access to fast, automated credit. These are off-chain and slow to reach the user.
A solution that enables mobile‑money wallet users to access tokenised microloans, using stablecoins on the Cardano blockchain : thereby unlocking inclusion, trust, and on‑chain usage.
Please provide your proposal title
Tokenised Microloans via Mobile Money in Egypt
Enter the amount of funding you are requesting in ADA
160000
Please specify how many months you expect your project to last
12
What is the problem you want to solve?
Mobile wallet users are underserved by traditional micro‑lenders, lacking formal credit history or access to fast, automated credit. These are off-chain and slow to reach the user.
Supporting links
Does your project have any dependencies on other organizations, technical or otherwise?
Yes
Describe any dependencies or write 'No dependencies'
We would need to establish mobile-wallet integration framework with one of the major entities in Egypt: Vodafone Cash, Orange Cash, or e& Cash
Will your project's outputs be fully open source?
Yes
Please provide details on the intellectual property (IP) status of your project outputs, including whether they will be released as open source or retained under another licence.
The blockchain and stablecoin learnings and research will be shared open source to benefit the Cardano community and further innovations. The core banking platform that is already developed by Credable will remain the IP of the company.
Please choose the most relevant theme and tag related to the outcomes of your proposal
Lending
Describe what makes your idea innovative compared to what has been previously launched in the market (whether by you or others).
Credable already operates digital lending and savings products through existing partnerships with mobile-money operators in its traditional fiat infrastructure. This means the integrations, compliance flows, settlement mechanisms, and operational relationships with mobile-wallet providers are already established.
For the Egypt pilot, we will extend this proven mobile-wallet integration framework to Vodafone Cash, Orange Cash, and e& Cash. Leveraging our existing mobile-money rails dramatically reduces partnership risk, shortens deployment timelines, and ensures that mobile-wallet users can receive instant loan payouts through familiar, trusted channels.
Describe what your prototype or MVP will demonstrate, and where it can be accessed.
Credable – Tokenised Microloans via Mobile Money (Egypt Pilot) will deliver:
Smart‑contract‑driven microloans issued and managed on Cardano using native tokens/contract logic for loan issuance, repayment flows, and default management.
Describe realistic measures of success, ideally with on-chain metrics.
Please describe your proposed solution and how it addresses the problem
By utilizing the blockchain layer and Cardano, we are able to activate multiple fund providers and solve the constraint around balance sheet providers in a new market.
Furthermore, this capability demonstrates the value of blockchain and stablecoin implementations through speed and efficiency it provides at scale, compared to traditional digital micro-lending today.
The following outlines the key solution and proposed architecture:
Please define the positive impact your project will have on the wider Cardano community
This pilot aligns strongly with the strategic vision for Cardano: to power financial infrastructure that drives inclusion, transparency and real‑world on‑chain utility.
Similarly, Egypt is a great fit for this pilot as Egypt has one of the fastest-growing mobile-wallet ecosystems in MENA (high wallet penetration but low formal credit penetration). Furthermore, the government's push for digital finance and instant payments serve as a clear strategic indicator for how this solution can be successful in the market.
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?
Credable has track record for embedded finance with traditional lending capabilities through its digital banking platform. Pulling from this expertise, we believe we are well suited to provide this solution on top of teh Cardano rails and demonstrate the value of this future enabled use case.
Some of the capabilities of Credable are below:
Milestone Title
Partner Onboarding & Regulatory Setup
Milestone Outputs
Sign MOU with Vodafone Cash (or equivalent), integrate Egyptian mobile‑wallet partner; secure sandbox approvals from NTRA & competent Egyptian regulators.
MOU negotiation, partner integration costs, KYC/AML/legal setup with Vodafone Cash (or equivalent)
Acceptance Criteria
MOU with MM partner in Egypt ready to proceed with the proposal. This demonstrates the intent for the partner to proceed with the project in Egypt and leverage the Cardano rails based on the proposed solution.
Evidence of Completion
Signed contract by Credable and Mobile Wallet Provider in Egypt based on the outlined proposal detailing the use case.
Delivery Month
2
Cost
20000
Progress
10 %
Milestone Title
Smart Contract & Stablecoin Development
Milestone Outputs
Plutus contract design (including loan issuance, repayment logic, NFT structure), stablecoin (USDA/USDM) integration on Cardano, and the tokenisation module. Essentially, this lays the groundwork and satisfies the required smart contracts and setup for Stablecoin development in the outlined environment.
Acceptance Criteria
The following key criteria will define the acceptance of this milestone in terms of the overall project timeline:
Evidence of Completion
The milestone will be complete when the outlined acceptance criteria is fully met, which enables Credable to proceed to the next phase of development.
Delivery Month
2
Cost
60000
Progress
30 %
Milestone Title
Backend/API & Mobile‑Wallet Bridge
Milestone Outputs
Develop bridging services: wallet API integration (cash‑in/out, loan credit to wallet), user onboarding, KYC/AML flows, wallet‑address binding. This covers the complete backend development to ride on Cardano rails, as well as partner integrations for MM wallets, funds flow, disbursement, recovery, communications, and more.
Acceptance Criteria
The outlined APIs are fully documented and developed in the backend for consumption by any service leveraging similar blockchain or stable coin rails. This should be a plug and play integration layer that enables the solution.
Evidence of Completion
The ability to use an API payload to simulate the complete loan journey and lifecycle end-to-end utilizing the blockchain rails established.
Delivery Month
6
Cost
25000
Progress
50 %
Milestone Title
Testnet Deployment, & Internal QA, and Pilot Operations
Milestone Outputs
Deploy MVP on Cardano testnet: lenders fund pool, borrowers apply via mobile wallet, loans issued, repayments simulated, stablecoin flows tested. Consists of a complete internal QA.
Pilot user recruitment (~500–1 000), user support, mobile‑wallet partner coordination, user incentives (non‑giveaways), analytics
Acceptance Criteria
Have a deployed MVP for end-to-end testing and demo that is verified by internal QA. Secondly, to bring onboard a pilot use base of 500 to 1000 individuals that will operate in the pilot and validate the capabilities of the solution.
Evidence of Completion
A comprehensice UAT document that shows test cases and outcomes for the various functions developed on the platform.
A sign up list of users for the pilot > 500.
Delivery Month
6
Cost
20000
Progress
70 %
Milestone Title
Pilot Launch & Marketing
Milestone Outputs
Fully launch pilot with onboarded base of wallet users in Egypt and monitor real user flows, customer behavior, stablecoin tranasctions, platform stability, and general data analytics.
In conjunction, hold a demo day with marketing to drive interest and capture feedback on areas for improvement.
Acceptance Criteria
Pilot is live, transactions are occurring on the platform, and stablecoin transactions are successfully being used for the lending use case.
Demo day event, 5 blog posts, PR, and open source release
Evidence of Completion
Data reports monitoring live platform activity across the loan lifecycle as well as across the stablecoin transaction phases.
Clear marketing measurables that are satisfied based on the above acceptance critera.
Delivery Month
9
Cost
15000
Progress
80 %
Milestone Title
Go Live
Milestone Outputs
We will deploy to Cardano Mainnet on a limited scale, host a community demo (Cardano MENA Town Hall), open‑source selected smart‑contract code, and publish impact report.
The plan will be to open up the platform and solution to a larger base over the coming weeks and demonstrate the value proposition of the approach.
Acceptance Criteria
Cardano Mainnet Deployment and sharing with the Cardano community. Scale up the user base above 1,000, disburse loans to this same user base utilizing the Stablecoin implementation, and track stability and performance metrics post launch.
Evidence of Completion
Delivery Month
12
Cost
20000
Progress
100 %
Please provide a cost breakdown of the proposed work and resources
Total: 160,000 ADA
How does the cost of the project represent value for the Cardano ecosystem?
The cost of this project represents strong, high-leverage value for the Cardano ecosystem because it converts funding directly into real-world adoption, measurable on-chain activity, and a replicable model for financial inclusion. Rather than producing abstract research, this pilot activates Cardano inside Egypt’s rapidly growing mobile-money economy, where 46 million wallet users transact billions each quarter but lack access to formal credit.
Every dollar spent translates into concrete ecosystem usage. Each loan issuance, repayment, tokenised contract, and liquidity-pool movement generates Cardano transactions and stablecoin flows (USDA/USDM). With targets of ~2,000 on-chain events and US $100k in stablecoin loan volume during the pilot, the project drives genuine ledger activity—not simulation.
The budget also expands Cardano’s user base in MENA/Africa. Integrating with Vodafone Cash brings Cardano to millions who already use digital wallets but have never interacted with blockchain. This lowers adoption barriers and establishes Cardano as the first blockchain linked to Egypt’s mobile-money infrastructure.
A significant part of the value comes from reusable infrastructure. The project funds open-sourced smart contracts, integration modules, and loan-tokenisation patterns that other developers can deploy across Africa and emerging markets, amplifying the return on investment.
Finally, the cost reflects necessary compliance, partner integration, and security auditing, ensuring that Cardano operates within a regulated financial environment—an essential step for institutional credibility.
In short, ₳160,000 unlocks real economic activity, new users, stablecoin utility, and open infrastructure, positioning Cardano as a practical financial backbone in high-growth underserved markets.
I confirm that evidence of prior research, whitepaper, design, or proof-of-concept is provided.
Yes
I confirm that the proposal includes ecosystem research and uses the findings to either (a) justify its uniqueness over existing solutions or (b) demonstrate the value of its novel approach.
Yes
I confirm that the proposal demonstrates technical capability via verifiable in-house talent or a confirmed development partner (GitHub, LinkedIn, portfolio, etc.)
Yes
I confirm that the proposer and all team members are in good standing with prior Catalyst projects.
Yes
I confirm that the proposal clearly defines the problem and the value of the on-chain utility.
Yes
I confirm that the primary goal of the proposal is a working prototype deployed on at least a Cardano testnet.
Yes
I confirm that the proposal outlines a credible and clear technical plan and architecture.
Yes
I confirm that the budget and timeline (≤ 12 months) are realistic for the proposed work.
Yes
I confirm that the proposal includes a community engagement and feedback plan to amplify prototype adoption with the Cardano ecosystem.
Yes
I confirm that the budget is for future development only; excludes retroactive funding, incentives, giveaways, re-granting, or sub-treasuries.
Yes
I Agree
Yes
Nadeem Juma, CEO: Nadeem is the CEO and Co-founder of Credable, a pioneering fintech platform enabling embedded financial services across emerging markets. With decades of experience in mobile fintech, he brings deep industry expertise, positioning Credable at the forefront of innovation in digital lending and savings.
Jad Abbas, CFO: Jad is a seasoned finance and private equity investor professional with over 13 years of investment experience in the Middle East and Sub-Saharan Africa. Jad was most recently a Director at Actis, the largest emerging markets private equity firm. At Actis, Jad was responsible for the management of several portfolio companies across East and West Africa. Jad has spent the last decade investing in various companies and was responsible for investments made from a US$1 billion Sub-Saharan Africa fund. He is currently based in Dubai but has lived in Kenya and Nigeria previously.
Michael Tarimo, CTO: Michael has been serving as a CTO since 2015. He began his career as a researcher in health information systems. Much of this early work resulted in the formation of Tanzania's MTUHA platform (National health management information system). Mike considers himself a pragmatic dreamer - one who believes in the power of harnessing technology, however, with the need for it to be grounded in market truths and the ability to be operationalized and not just shelf concepts.
Marvin Kirschner, Head of Partner Success: Marvin is the Head of Partner Success at Credable Group, where he focuses on scaling lending and savings products across various countries through data-driven innovation. Before this, he served as the Chief Growth Officer at Sendy, helping to scale the business significantly. With over 8 years of experience leading Data and Business Intelligence teams, Marvin brings a practical and strategic approach to his work. He’s also a member of the Nairobi Business Angel Network, where he supports and invests in tech startups across Africa.
Aly Juma, Head of Data: Aly possesses a unique set of skills and qualifications that are critical for the success of our data roadmap. His extensive experience in Digital Products and Technology Innovation brings invaluable knowledge and insights, essential for our Head of Data position.