C14: Fiat Ramps for Harmony
We believe that Web 2 and Web 3 will combine into a single unified internet layer within the next 5 years. This vision for a Web 3 world will require faster and cheaper blockchains to reach mass adoption, which is why we believe the Harmony chain is a fantastic early partner. Consumers will need to move money seamlessly between the traditional financial world, where most of their assets currently live, and this new internet paradigm.
C14’s mission is to enable users across the world to seamlessly enter and exit the crypto ecosystem. Existing ramps infrastructure is expensive, difficult to use, and supports only a tiny fraction of the crypto ecosystem. C14 is building an ecommerce-like platform that can be deployed across projects (exchanges, wallets, dApps, etc.) to enable easy ramping in and out of digital assets.
For consumers, this will provide:
- An easy-to-use fiat bridge in and out of assets on Harmony that mirrors a familiar e-commerce experience
- Stored payment methods available across discrete projects to minimize friction for repeated purchases of assets that live on Harmony
For partners, this will provide:
- An easy way for projects built on Harmony to ramp users directly in and out of their projects from fiat using familiar payment methods
- A go-to-market tool for easily ramping customers into new tokens on the Harmony chain
C14 is built on a B:B:C business model, where end users are C14’s retail customers and platforms that host the C14 widget are C14’s referral partners. C14 will also partner with the development foundations that launch and manage blockchains and is in discussion with several now. These channels will enable C14 to efficiently distribute its applications to partners who need ramping solutions.
C14’s ramps will initially be focused on credit/debit cards (both push and pull methods) but over time will include additional payment methods (local bank transfers, APMs, etc.) These local payment methods will be the key to C14’s geographical growth strategy and will enable C14 to expand to regions with lower card adoption rates to support Harmony users globally.
Technology development, operational resources, access to Harmony’s engineering staff for Q&A, OTC relationship for liquidity
- First card transaction processed through C14 for the purchase of USDC on Harmony
- First card transaction processed through C14 for the purchase of Harmony ONE
- First integration of the C14 application into a live Harmony project
The project is not yet public; further details have been provided directly to the Harmony team.