DAPPCON 2025: Designing the business stack for the open internet - Sharon Paul

Transcript

Hi everyone. Can you hear me? Okay, great. Yeah. Okay. Just let everyone settle in now. Okay. All right. I'll just get started. Thanks so much. Uh it's just myself. My name is Sharon. Uh my co-founder is a bit shy. I was pretending to be shy. His name is Sunny in the crowd. Can you just wave? So if you just see any one of us with this QR at the back, just hit us up. uh they're part of the HQ team or now happy to be part of the Nosis HQ team. Uh so who are we? I think today's is really just an introduction on exactly who are we uh because you might have read about us online or maybe knew about it you know you're working industry uh so it's

really an introduction properly uh to really who we are and what we're doing for the Nosis family now. So you probably already know about Nosis pay the consumer cards uh that's partnering up for example other players like zil uh picnic we are basically finishing the finance stack for nosis in the business side so all of us if you're running you know a startup or project onchain uh you probably really feel the pain of banking uh hopefully we can solve it for you okay so we call it business accounts reinvented for stable coins so all these brands probably brands that you already know um from a whole different spectrum I'll say how onchain they are um fellow other chain member

for example Mento a NFT NFTs are sometimes alive still I will say uh so Pixelmon and even regular fintech uh industries uh players like picnic uh that dares to go on chain what do they have in common they have revenue on chain but what does that mean behind the scenes fun fact uh they're all users of us uh over the past year or two uh now proud powered by Nosis HQ. All right. Okay. So, I think a lot of us, you know, it's mainstream that uh stable coins is now in the payment space. Uh if you're not just using Twitter, but using LinkedIn, I think every day there's at least one article talking about stable coins. It's definitely quite mainstream now. But I will say that okay, so quick

fun fact, there has definitely evolved a lot in the past 5 years. Uh I personally was fortunate to have worked in a Singapore stable coin project called straight sex and back then it was like exactly 2019. Um the total market supply of some major USD stable coins were only 1.9 billion right fast forward in a short span of five to six years time it has actually done a crazy 100 times. Uh so this research was done by uh done by alien commissioned by Visa to really find out the stable coin growth globally. Uh so 100 times in five six years is really quite insane. Um so that's why finally I guess it hits mainstream right and all these crazy billion dollar acquisitions happening.

So from almost 2 billion to now 200 billion and this is just talking about sing USD stable coins what more the non-USD wants. Um not just in terms of traction but finally I think we have some sort of validation in the markets or our regulators as well. So in Singapore, US EU there's starting to be more clarity around stable coins specifically uh which is very important. I would say for the business use case because a lot of times businesses we are afraid of overnight our banks shutting us down. Um so when there's clarity in regulations it really helps grow the market even further. But why am I talking so much about business adoption on stable coins? Um because actually truly it's a we're just at the start right uh the market is really huge. Um so we all know wise for example uh so

for them we know first fun fact we dug around uh their annual reports and we ourselves found that hey they consider businessto payments as a $37 trillion industry very large when you look at just like 200 billion great growth 100 times over the past few years but bring that forward to almost a 37 trillion market growth uh size we are just at the start okay And in terms of where we started off, so now we're in February of course it's only three billion, right? So another uh vendor onchain provider Optimus has estimated that we are only just around three billion when it comes to business payments using stable coins. So largely I would say most of the time is in

retail. We all know it could be happening in trading, DeFi or consumer P2P payments. Uh but there still we're just very very very early uh when it comes to business payments. And for us, I think that's really what motivates us uh when we see the market size for business payments being so large being onchain. Um so we're just happy to be part of that movement. So yeah, so beyond actually onchain, so later I'll show you guys a real demo. Uh it's we are our profile today is still servicing largely I'll say onchain companies. Uh but we are excited in a couple of years time to hopefully tap into non-web 3 native companies. Um for example all of these very traditional industries that you can see on board uh at end of day they are the ones forming

the bulk of the uh volume. Okay. Yeah. So quick introduction end of day this is what we do. Why we exist however is because I think when it comes to business payments and all the new banks we have been quite spoiled in terms of them making the user experience really good. Uh unfortunately when it comes to onchain business payments not quite best you at the start. um if you actually want to make payroll, you probably um take pride sometimes how fragmented it is. Uh so for us it's still hard. Uh so that's why we exist. All these little sub features we hope to either build ourselves or to partner with others to make it a bit more cohesive.

So yeah, so this is a quite simplified version, but under the hood, you'll start to see Nosis HQ forming more and more of these products. Um so definitely to bring in your own account or wallet uh for example save or others you know as they start to expand um and that's our philosophy right you should still have the freedom to decide which how you want to custodize your assets but at least for us our goal here is to really bridge to the realities for businesses uh and businesses reality are a bit heightened we're not just about talking about payments is it fast but it has to be compliant uh it has to be safe enough uh and there's a lot of accountability that we are subjected to So there's a lot of reporting stuff that comes with payments. Um so hopefully as we start to

build the modules uh that you see as boxes uh we get to solve that. So largely two categories payments and reporting and of course as there's funds in your uh either cards or balances uh we don't just make it idle there. Yeah. So I'll go through very in greater detail but high level um we're all about abstracting the the fragmentation. So select any stable coins that you want. Uh you can basically pay your team member or vendors in their bank account direct. No longer do you need to just offrem and then top up a separate fintech account or a bank account. We actually want to make it as a one-step process.

Next also uh fun fact so it's already been live silently uh but now we're going to rebrand it as Nosis HQ. Um, so coming from Singapore, all my transactions, for example, were paid for by our HQ card. Yeah. So you can see live on my Apple card. Um, it's live as well in your Google Pay. Um, and basically all your business expenses hopefully can be reconciled nicely by one card. Okay. So I'll just go through an actual live demo so that uh you get to experience really what am I talking about through slides. Yeah.

Okay, so this is an actual uh live account. So you can see um the website here. It's not like a staging or demo. It's an actual live one. When you actually go and sign up account, hopefully this is what you experience. So two things we deal with all things payments or reporting in in multiple ways. We know that end of the day for a lot of us as crypto folks, we have to deal the realities of like rental, bank payroll, uh vendor payouts, right? So we make it easy if your vendor if your accepts crypto you can just pay them direct through stable coins but in reality if they demand that you know they can only be paid through a bank transfer that's totally fine right you

can still connect your own wallet so any of the accounts that wallet connect um we can connect it to that and if you see here these are various uh payment networks whether it's a local payment network here or if it's an international swift we can support it as as well. So multiurrency is completely fine. So you can see there's USD, there Singapore dollars, euros coming up soon, pounds as well. Okay. And how we do it is that we have kind of worked with many uh payment licensed payment gateways. Um so that again everything is compliant.

There's no worries uh on the front of the recipient. Okay. Also I think what stands out a bit different from business compared to personal again we always need to do a lot of reporting. So we can always tag immediately upload a file immediately. So again I think your accountant will probably be extremely happy if you use this because you're kind of solving all the reporting stuff at the point of payment or before multiple payments as well. No issues. You can even save it. You can create a draft formally and just come here every month have someone else set it up for you and you just need to do a final check uh before you execute.

Again, this is not so much of a, you know, onchain transfer. It's really hitting someone's bank account. Next, I would say for cards. Okay. So, this cards, uh, virtual cards is really what we emphasize on all the time. Uh, because I think in business expenses, sometimes for budgeting, it's good to have like one card for marketing, one card for HR and things like that, right? So, just have a card here and the transaction is fully onchain. Uh and don't worry about like you know additional fees and stuff. We're super transparent. It's all online. Uh you will really know how much fees are charged by ourselves, Visa and other partners. Okay. It's almost near instant. Maybe actually tap is is as

good as instant. Finally, all these payments go to a consolidated reporting. Okay. So let's Yeah. So this is a demo account. So you can see a couple of transactions here. We do support multiple chains. Uh so no this change obviously um but also other popular EVMs. Finally all this what does it amount to if you just want basic reporting is something simple like this uh but you know if your team it actually goes down to actual audits or accounting um it gets very easily pushed into your normal software.

So okay so that's about it. Uh so in summary just yeah making sure that your onchain payments is also real uh from a business perspective. Okay. Yeah. So, this is probably like the last few slides uh just showing how real it is. Uh so, I kind of been traveling around with all with the card um all the way to Malaysia, now Berlin, for example. I came from Singapore. So, we're registered there. Uh so, we have the card and you can see that we actually with I think that's the beauty of a card. The minute you have a car, it connects to multiple local payment networks that's also connected to Visa for example. So here I was in a Chinese restaurant in Malaysia or obviously the merchant doesn't accept just stable

coins as is. Uh but I paid the merchant using WeChat pay because it's a Chinese restaurant. They actually accepted only WeChat payments. Uh but I actually funded my WeChat pay wallet with our corporate card. Um and that was how I went around in Malaysia at least for that week. Um, so it's personally pretty exciting to actually see our card in action even not just online that things are a bit standardized but even offline uh connected to like really local payment networks. Okay, so again wrapping up. So this is my team. It's really just a quick introduction uh of who we are and hopefully you'll see us more and more uh whether in person or online. Um so really proud to be part of the Nosis family. Any issues with the business side of things you can always hit us up.

Okay. and you can just scan if you need to contact me. That's about it. Thank you. Awesome. So, we've got time for questions. Okay. Yeah, sure. There's any questions? No. Okay. We've been around for the whole week. Yeah. So, if you see any of us, just come to talk to us. Thank you.