Photo - 4Traderx
54549

4Traderx

USA, North Carolina
Market: Financial services
Stage of the project: Prototype or product is ready

Date of last change: 18.10.2021
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Idea

4Traderx is a new way of sending remittance to Africa at your pre-set exchange rate and a new way for African travelers and traders to source foreign currencies quickly.

Current Status

We have our MVP, partnership with two money transmitters (one here in the States and Africa), and have applied for the remittance exempt letter from the Commission of Banks in North Carolina. After our interview with them, they gave us a verbal confirmation that we meet the requirement for an exemption and will be getting it soon.

Problem or Opportunity

Providing higher currencies conversion rates for Africans in the diaspora
Providing a better way of sourcing foreign currencies for traders in Africa
Providing a legal and regulated peer-to-peer currencies marketplace for Africans doing unofficial peer-to-peer

Solution (product or service)

Our web and mobile app will provide a regulated platform that will allow users to set their currencies exchange rates to have more when they sell and pay less when they buy.

Business model

We charge commission on both sides for each transaction.
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