We are building an app that will provide nano-credit, from USD35-350 to the poor and the unbanked in Latam, and we are starting in Brazil. In Brazil, for example people that don't have a bank account have to use credit cards or loan sharks to get a loan. Credit cards charge up to 600% interest a year and loan shark as high as 7000% a year.
We realized the beta last year and it validated the idea. The beta was fully aimed towards the poor. We are still trying to think the best way to work with the unbanked. For this reason I am here looking for some advice from the stellar community. I have been following the development of stellar and I saw some of it codes that we could easily use to build a e-wallet. Though I cannot figure it out on how to make the conversion fiat-crypto-fiat in Brazil.
We already found another startup that allows people to transfer money via stellar and lets them pick it up at a money-pick-up-point. Is this the only way to allow people to turn crypto into fiat again (apart from crypto-exchanges, but we're dealing with people who are not particularly tech-savvy)?
How could the client do the crypto-fiat side to get the loan? This is the main blocker for us now.
Any feedback will be well appreciated!