Fonbnk is a fintech platform that enables financial inclusion in emerging markets by converting prepaid mobile airtime into USDC on the Stellar network, providing seamless on and off-ramps for cash-based economies across Sub-Saharan Africa.
Fonbnk addresses a critical gap in emerging markets by leveraging prepaid mobile airtime—which functions as de facto currency in Africa—as a bridge to the global digital economy. The platform converts airtime credits into USDC on Stellar at a rate of $0.01 per unit, enabling users to access Web3 services and convert back to cash through Stellar anchors. Fonbnk provides developer-friendly tools including Paywidget (for seamless Stellar integration), Topup widget (for off-ramp functionality), and Instant merchant widget (for USDC payments via airtime). The solution addresses the challenge of expensive mobile data in Africa, where prepaid plans represent up to 8.76% of median income. CEO Chris Duffus envisions Fonbnk enabling cross-border payments and financial inclusion for billions of unbanked users, with plans for in-app swaps and direct on-chain payments across African markets.
