About
YapBay is a Web3 P2P remittance platform that enables remittance senders to chain together fiat and crypto transactions, bypassing TradFi limits. Censorship-resistant and KYC-free, YapBay fosters financial inclusion for the world's 2 billion unbanked and underbanked. Problem Sub-$200 remittances frequently incur high fixed fees compared to the modest sums sent. This makes them expensive for certain remittance corridors that terminate in Africa, SE Asia, and Latin America. These steep costs hinder individuals from supporting their families, impede their participation in the global economy and frustrate capital formation in their home countries. Solution YapBay is a LocalBitcoins where remittance senders chain together 2 peer-to-peer trade offers into 1 fiat-in, fiat-out remittance transaction. Remittance senders and receivers use their preferred fiat currencies and avoid any need for immediate onboarding, technical knowledge or exposure to volatility. Remittance senders can also buy basic necessities from merchants that are local to their remittance recipients. Often, merchants can deliver these products to the recipients' homes. We call these “combo remittances”.
