“I come from Latin America, from a small town. I have seen what it is to have a broken financial system,” says Fernanda Orduña Rangel, cofounder of Decaf. “So when I saw this new technology, it was very clear how I could use blockchain to solve a problem that I have experienced, one that I know exists not just in my town, but everywhere.”
Decaf is a wallet built on Solana that provides financial freedom for people all over the world — especially in places with unstable economies that are not inclusive to everyday individuals. The app allows users to transition between fiat and crypto with the ease of a tap. As of March 2024, Decaf supports over 184 local currencies that can be redeemed at over 350,000 Moneygram locations, bridging the gap between crypto and real world transactions.
“We’re trying to onboard the next billion people onto Solana and into blockchain,” explains Rangel. “With Decaf, you are able to cash out your stablecoins into pretty much any currency. We’re overtaking traditional systems, using blockchain to provide more freedom and more accessibility.”
Emerging economies are leading the way in crypto adoption worldwide. That’s because people are seeing the valuable role the technology can play in protecting their hard-earned wealth and spending power. “My cofounder went to Argentina. The taxi driver was telling him it is so hard in Argentina right now because inflation is so crazy. They’re able to buy less and less every time [they go to the supermarket],” explains Rangel. That’s where Decaf comes in. “They saw the solution in blockchain. Now, they are able to protect themselves from inflation and have money to actually live their lives.”
While many apps built on Solana cater to the cutting edge of web3, platforms like Decaf focus on lowering the barrier to entry for newcomers and creating a seamless experience between the internet, the real world, and web3. “We make the onboarding experience as easy as possible, and then slowly start teaching our users to do more,” says Rangel. “We give them access to a stable currency, but also we let them access investments, so they’re not just protecting themselves from inflation and devaluation, but they’re making money, improving their lives, and [working towards] financial freedom.”
Because Decaf’s user base is made up largely of newcomers to web3, it requires a blockchain that enables accessibility and convenience, one that doesn’t get in the way of user experience. “Decaf is only possible on Solana because of its great composability and performance,” says Rangel. “Solana’s speed and low fees mean we can offer an experience that looks like a web2 product, but is actually cheaper and faster. People don't even realize they’re using blockchain. That is the game-changing thing about Solana.”
Seamless finance for everyone all over the world is only possible on Solana.