SBC Challenge # 7

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The goal of our project is to show that stellar can be combined with open banking API's to achieve real world money transfers without the need of Anchors.

We use stellar as

  1. Payment messaging tool ,
  2. Reconciliation and validation network,
  3. Creating the IOU and the ability to pass on debt to third parties, create a “P2P pathfinder”.


The actually transfer of value happens directly in fiat between the users. We connect a users bank account directly to their stellar wallet in order to create the anchor-less p2p transfers. To start with we are connecting bank accounts from European countries.. But the vision is that all payment methods at the user level to a stellar account. and then use stellar to create the path top move value in a P2P fashion between users all over the world. will be connected in this way allowing for true transfer of value in a similar fashion to what DNS does for the internet. The big difference with pathfinder is that in our model each wallet acts as a mini-anchor.


Features  Implemented:

Stellar Account

  • Stellar account plus federation addresses for email and bank account number
  • Auto load of funds into stellar account for activation

Payment request/IOU

  • User can request payment from another user.
  • The request is registered on the stellar blockchain

Bank API connect:

  • User connects their bank account via API directly with the stellar account.
  • The Bank API retrieves bank transaction history into wallet, bank details.
  • Allows for pushing payments

Encryption Hash:

  • The IOU information and payments instructions is stored on multichain (private blockchain)
  • This information is encrypted and created into a hash string
  • Encrypted hash is recorded into memo field of stellar transactions.
  • Encrypted hash is also included in the bank or fiat transfers in the description field
  • The hash is tracked by the wallet in order to audit, verify, match and complete the transaction/IOU.
  • It helps create a full accountable flow.
  • Hash can be forwarded to pass on debt.
  • Encrypted hash also keeps payments details private.


  • trustlines created between the two wallets for exchange of assets


  • App analysis encrypted hash, stellar and bank transactions to update status of payments and reset IOUs

Features we didn't have time to finish:

  • Connecting crypto exchanges, paypal, wechat to the stellar account.
  • Pass on debt to third parties
  • Create a “pathfinder” at the wallet/P2P level.