Open debit card for developers powered by Kusama

Requested: 120.7K USD * 4.36% (buffer price) (19.9 KSM/USD — EMA7) = 6,331 KSM

TL;TR

This is 3 minutes summary for the proposal, part of our pitch in 17/02 AGG here the slides

Why?

Today, issue debit cards for web3 projects is process that involves huge investments, strict compliance requirements and operational overhead that couldn't be paid by many developers.

We're building an Open API to issue debit cards and then build financial bridges for everyday use cases on Kusama (for example, paying for your lunch or sending money to your loved ones); think of it as a web3 Stripe powered by Kusama.

Holders, consider this: an increase in volume on the Kusama chain will eventually create demand for the token, driving up hopefully prices.

What?

We provide all the operational, development, and financial team expertise to provide a compliant, non-custodial card infrastructure for Kusama users.

You can expect us to deliver:

• First stage (this proposal): Launch a developer-friendly API to enable Kusama apps to launch prepaid debit cards as easily as with one line of code.

How it works?

Our Partners

• Pomelo + Visa (Debit card issuer): Pomelo is a pioneering fintech transforming card issuance in Latin America. Its cloud-native, API-driven platform lets banks and fintechs launch secure, scalable cards rapidly. Partnering with Mastercard and Coastal Community Bank, Pomelo modernizes payments and drives financial inclusion.
• Truora (KYC/KYB): Truora is a Latin American startup simplifying user verification and fraud prevention. Its API-driven platform offers background checks, digital identity, and KYC tools to help businesses onboard customers securely, reduce fraud, and boost conversion
• Bancolombia (Our Bank): Bancolombia is Colombia’s largest bank, boasting 146+ years of trusted service. With 30M+ customers, extensive branch and ATM networks, and innovative digital solutions, it drives financial inclusion, supports sustainable growth, and champions economic progress across Latin America.

Documentation

• API Documentation: here you will find a preview in how it will work, you can create your own identities and also cards, if you want to test it please contact us.

Card Features

• Funds are non-custodial in Asset-hub.
• Top-up via dUSD via Polygon, Etherium, Asset-hub + 10+ chains.
• You can add this card to Apple or Google Wallet.
• Worldwide shipping for Physical Card.
• Cash ATM withdraws.
• As developer you can issue debit cards and earn up to ~1.3% from customers purchases cheaper, compliant and easier than ever before.

Benefits for Kusama

• All balances for the debit cards would be on-chain, ensuring transparency and increased chain volume.
• Calling all developers and builders! We're taking Kusama to new heights by partnering with more real world startups.
• Visa provides card infrastructure via Pomelo (https://pomelo.la/es/).
  • Our agreement with Pomelo is established in Colombia, but you can get access to the card worldwide (you only need a passport to verify your identity).
• Today, we want to support dUSD and KSM via Asset Conversions in Asset Hub.
  • In the future, we’ll be able to enable other coins/tokens created in the ecosystem to be used in daily use cases. For example, you could make a token in Asset Hub, create a pool (YOUR_TOKEN/dUSD), and then use that token to pay for your bus ticket.
  • With our customers and operation only, we will increase the volume on chain by ~700K USD monthly

How is it different from Polkadot Pay, Polkadot App or Nova Wallet debit card?

Actually, we're not competing —we're here to enable innovation. Think of us as an open API for debit card issuance for web3 projects, helping more projects/wallets/dapps to connect their users with their money. Here's what that means:

• Integration Made Simple: Our platform lets dapps and apps add debit card functionality without the heavy investments or operational overhead.
• Building Together: Instead of competing, we empower services to enhance their offerings. We provide the foundation, and you build on top of it.
• Expanding Regional Reach: We also support regional growth. For instance, if Polkadot Pay or Nova wants to extend their services into new regions like Latin America, our solution can simplify and accelerate that process.

In short, we're not here to replace existing services—we're here to support and enhance them. Our focus is on making it easier for any platform to offer debit cards, thereby driving innovation and growth across the board.

Here, If you want a more detailed comparison

How far are we?

We have been working on the relationships and legal requirements to launch these debit cards for over a year; today, we’re in an advanced integration process for friends and family and with the regulatory requirements to do it.

About us

• David Barinas: CEO + Sr Engineer - Former YCombinator S19 Founder (Valiu 300K users + 6.2M raised).
• Ole Tobias: COO + Product Managment - MSc in Technology Management, former Technology Consultant at Deloitte, and ex-COO of Efficence AS.
• Roy Parrish: Chief Legal Officer - LATAM & North America | Strategic Oversight of Compliance and Regulatory Affairs
• Katherin Lopez: Head of User Research and Deals seeker / Ex Littio (YCS19) Ex Valiu (YCS19).
• Luis Polania: / Head of Financial Operations Ex Littio (YCS23) Ex Valiu (YCS19).

Traction

• Today, our monthly volume is ~253K USD, which we plan to migrate to Kusama via dUSD.
• Startups will work with us until today:
  • Coco Wallet YCS19 3.5K Users monthly Link to LoI
  • New Customers will be released and updated here soon…

Expenses Breakdown

• 45.7K USD License = 30K USD x 19% Colombian VAT + 10K USD Collateral for Visa
• 75K USD = 2.5K USD x 5 Members Full time x 6 Months

Total: 120.7K USD

Discussion Channel & Website

If you have any questions, please feel free to reach out to us on our channel to discuss them with the community.

• Join here
• Bloque Landing

FAQ

• Why funding us?

We are an experienced team with a proven record of building Web3 products. Now, we want to use Kusama in everyday cases worldwide.

• Which regions are excluded?

  Due to Visa terms and conditions, the following regions are excluded.

  • Afghanistan
  • Albania
  • Belarus (Republic of Belarus)
  • Bosnia & Herzegovina
  • Burundi
  • Cambodia
  • Cameroon
  • Central African Rep
  • Congo (the Democratic Republic of the)
  • Congo (the)
  • Croatia
  • Cuba (Republic of Cuba)
  • Eritrea
  • Hait
  • Iran (Islamic Republic of Iran)
  • Ira
  • Lebanon
  • Liberia
  • Libya
  • Mali
  • Mozambique
  • Myanmar (Burma)
  • Nicaragua
  • Nigeria
  • North Korea (DPRK - Democratic People’s Republic of Korea)
  • Pakistan
  • Palestine (State of)
  • Philippines
  • Russia (Russian Federation)
  • Somalia
  • South Sudan
  • Sudan (the)
  • Syria (Syrian Arab Republic)
  • Yemen
  • Zimbabwe

• Why is the web app in the second stage?

  What’s cool about having our open API for Kusama Apps first is that other teams in the ecosystem can create frontends. These could be part of Nova Wallet or external web apps, for example. We want to be enablers for the whole ecosystem, this must be a different discussion!

• Whats the relationship with Virto?

BloqueDAO is a Virto-spinoff established as a self-governing DAO in Kreivo. We’re leveraging on the Kreivo technology to support non-custodial management of the funds every user tops-up in their Kusama Pay cards.

• Would you be open to having your license or partnerships verified?

We're open to being independently verified by any member of Kusama. However, because our documents include non-disclosure agreements, we cannot share them publicly, though we can provide them privately.