"Challenge accepted!" - MIT alumni introduced free money transfers

SendNomad is a US-based fintech startup founded in 2021 that offers international money transfers. To scale its team and grow more quickly, the startup raised $760,000 and closed the pre-seed round in May this year. Notable investors include Prasanna, CapitalX, Astrit Ventures, Pareto, and Jacques.
Currently, the company operates in 32 countries, but the predominant markets are the EU, the countries of Latin America, and the CIS.

The project goal is to make transfers between countries fast and affordable. The blockchain-based mobile app lets the service ensure the complete safety of personal data.

Compared to the other providers, this service has no commission. All transfers are free with no interest costs in the exchange rate, as the company adheres to a transparent policy.

SendNomad accepts money from overseas in the sender's currency and converts it into cryptocurrency. The cryptocurrency is exchanged for the recipient's currency, and the funds are delivered to the final recipient via various internal transfer methods.
In order to reduce the impact of cryptocurrency volatility, our service takes advantage of Stablecoins - stable-value cryptocurrencies where the price is designed to be pegged to a fiat money. One of the stablecoins used by Nomad is USDT. It mirrors the price of the U.S. dollar, which means 1 USDT is always equal to $1.

Stablecoins such as USDT are a cornerstone of our service, thanks to their decentralized and borderless nature.
Every transfer has to go through the U.S. Dollar due to outdated infrastructure built by banks (ACH, SWIFT). Not to mention that every intermediary bank takes a cut before the funds reach the beneficiary, which is a reason for high fees for international transfers. At SendNomad, we have replaced the dollar with its more nimble and modern counterpart, and as a result we can provide no fees and faster transfers across the globe. Regardless of the transfer amount or time, the transaction processing is within 30 minutes.

The service allows you to send and receive funds from card to card and more than 100 electronic wallets.

The founders of the fintech startup are Kairat Ashim and Elezhan Zhakiya, graduates of MIT and YCombinator. In the coming year, the company plans to enter new markets and close a new round of investments for $10 million.

https://www.sendnomad.com/

177 Everett avenue, Apt A, Palo Alto, CA 94301
kamila@sendnomad.com

Global money transfer service

This release was published on openPR.