Introducing OBFC – Wire Money Over Ethereum

We just built something really special.

Intro

OBFC provides a standard protocol to perform a SWIFT/Fed based wire transfer using stablecoins on Ethereum, by simply interacting with a smart-contract, rather than a traditional custodian or escrow service.

No more passwords, phone verifications or emails, OBFC requires only one authorized on-chain transaction to initiate real-time wire transfers to bank accounts almost anywhere in the world.

The protocol allows individuals to send digital dollars directly from individually owned and controlled Ethereum accounts to bank accounts seamlessly. OBFC takes bank details, such as ABA routing numbers, IBANs, and other bank codes in the form of a standardized unique OBFC code, which is used as input for a blockchain transaction to facilitate a token transfer, which corresponds to an outgoing electronic bank transfer.

Things You Can Do With OBFC:

· Send a wire transfer to a friend via your Ledger.

· Offramp USDC to $$$ directly from MetaMask.

· Pay your rent on Ethereum by using OBFC to wire money to your landlord!

Give us feedback!!

Check out the app, at obfc.finance

We are at a really early stage in developing this system, so if you are interested in helping us or giving us initial feedback please do reach out.

We think this is a pretty interesting example of how you can use Ethereum to interact with traditional banking infrastructure.

Please be advised, this is highly experimental right now and you should reach out to us if you are interested in trying it out. (read the transparency tab for more information).

Thank you,

Team OBFC