Have you heard about Común? It's a fintech platform was built to solve a specific problem: giving access to basic financial services and affordable cross-border transfers for immigrants in the U.S. 🇺🇸 (particularly Hispanic users), who often face limited options for opening accounts in traditional banks.
🌎 The product is designed around alternative onboarding and access methods:
- Onboarding without a U.S. Social Security number;
- Support for 100+ types of international IDs;
- Cash-in/out infrastructure through a network of 80,000+ ATM and retail locations;
- Proof of U.S. residence via geolocation or address documents.
The team also mentioned plans to introduce stablecoins into their roadmap. For cross-border payments, this would be a practical addition, as stablecoins are faster and require fewer intermediaries.
📈 By the way, adding crypto options like BTC or stables can be done pretty fast if they go with a WaaS (Wallet-as-a-Service) API layer - likely a couple of months, while building the infrastructure internally would more realistically take 9-12 months. For more context on WaaS, check this article.
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