BailPort

BailPort is a developer of a multi-currency electronic wallet designed to help users exchange, save, and send money focused on the African market. The e-wallet allows users to transfer money from Africa to the rest of the world. The platform uses blockchain technology to maintain transactions and enable cross-border, in-country, and international money transfers. The company also offers access to cryptocurrency, personal loans, and travel insurance.

The company was founded in 2019 by Charles Nana Kwarteng and Eric Mwaura and is headquartered in Auburn, Washington. Partners of the company include Techstars, Draper University, Algorand, and Borderless Capital.

BailPort's e-wallet solution is a Web3 financial technology platform offering a blockchain-based pathway for cross-border payments for consumers and merchants. The company also offers APIs for collections, payouts, and currency exchanges through stable coins for individuals, small and medium enterprises, and other solutions.

For individuals, the e-wallet offers an encrypted system using mutating encryption algorithms, backed by Algorand and Filecoin, to offer easy user interfaces to perform KYC, ID, and biometrics verification. The P2P payments include fees as low as 0.5%, which can be made to local mobile wallets and banks and allow users to pay merchants with the scan of a QR code. And the wallet allows users to send money to the accounts of family, friends, and business partners, in-country or cross-border.

For merchants, the Bailport e-wallet offers the same features as for consumers and includes simple integration APIs for merchants to collect, payout, and exchange currency, and offers a merchant dashboard allowing users to generate reports, download payment history, initiate payments, and share payment links.