Hi, I’m Shri, Co-Founder and CEO of Credible Finance.
I come from a fintech background, having worked for nearly 14 years in traditional finance. Before founding Credible, I built a healthcare financing company that was successfully acquired in 2023. Along the way, I also did consulting work in the Web3 space—collaborating with exchanges and DeFi protocols across Singapore and Thailand.
The idea for Credible came from a simple but powerful question: how can we merge the reliability of traditional finance with the scalability and transparency of Web3?
That’s what led to Credible—a platform that enables real-time cross-border remittances from developed markets like the U.S., Canada, and Europe to developing regions such as India, Nigeria, and the Philippines. Unlike existing solutions, Credible uses a credit pool mechanism to offer instant transfers without waiting for ACH settlements, while providing better FX rates than traditional players. Essentially, we’re bringing the efficiency of prefunded traditional finance systems into the Web3 era—both for B2B payments and personal remittances.
Despite the rise of stablecoin-based remittance platforms, none have been able to match the speed and reliability of traditional finance. Traditional systems use prefunding to ensure instant transfers—but that model hasn’t been replicated effectively in Web3.
Credible solves this by introducing a credit pool layer that eliminates the need for prefunding while maintaining the same speed and efficiency. This enables real-time stablecoin-based transfers with superior FX rates and lower fees. We currently serve key corridors such as U.S.–India, U.S.–Philippines, and U.S.–Nigeria, making cross-border payments faster, cheaper, and smarter.
Our AI model leverages rich data sets to assess and underwrite ACH settlement risk. For example, when a neobank builds on top of Credible, we analyze user behaviors—such as transfer frequency, banking reputation, and KYC data—to predict the likelihood of successful settlement.
This AI-based risk modeling ensures that we can front liquidity confidently through our credit pool while maintaining zero default risk. In fact, since launching 11 months ago, we’ve processed over $60 million in stablecoin credit transactions with zero defaults—a testament to how our AI-driven system bridges the trust gap between traditional finance and Web3.
In traditional finance, institutions use nostro-vostro setups for settlement. Credible replicates that model on-chain.Our credit pool, funded by stablecoin liquidity, acts as the settlement layer. When a neobank or payment platform sends money from the U.S. to countries like India or Nigeria, the credit pool immediately settles funds on the receiver side.
Once the ACH clears a few days later, the pool is refilled—creating a real-time remittance experience powered by on-chain liquidity.This mechanism bridges stablecoins and real-world finance, making stablecoin liquidity both productive and instantly usable in global settlements.
Actually, those numbers are now old. We've processed over $60M in stablecoin credit.One major learning was that we were initially too dependent on external agencies for credit assessment. We decided to bring the credit assessment mechanism in-house with our AI-based model, which dramatically sped up our process. This shift helped us move away from 30-day or 90-day credit lines to a much shorter 3-to-5-day credit line for payment financing, which scaled our volume quickly while minimizing risk.
The challenges were largely an operations learning experience in figuring out what was missing in the space. It took us multiple iterations of Product-Market Fit (PMF) to arrive here, but we're glad we have a solid PMF now with a B2B2C model that's gaining traction.
We now have over $370K$ users on the waitlist. The demand is driven by the fact that a crypto credit card is still a dream in countries like India, the Philippines, and Nigeria. While it's mainstream in the US and Europe, there are virtually no options in these developing markets.
Our entire objective is to dollarize the world—to make US-market assets and financial tools accessible to these developing markets. This strategy worked incredibly well. For instance, over $150\text{K}$ users are from Nigeria, making it one of our biggest markets. We plan to serve this retail segment by launching the card and tiering the offering based on the Credible Score.
We hold an MSB (Money Services Business) license in Canada, and in India, we have licenses for both lending and a crypto exchange. For the UAE and the US, we've partnered with licensed institutions to handle on-ramping and other regulated activities.
Laying this regulatory foundation was a significant initial challenge. We had to build a compliant flow where we do not touch the capital directly and convince regulated partners to trust us when we were still a young company. Having our own licenses in Canada and India, which is the number one inward remittance receiving country globally, gave partners the necessary confidence. This also gave us a key advantage, as India is largely untouched by other stablecoin remittance platforms. This, combined with our credit facility, has helped us bring in the necessary transaction volumes for our regulatory partners.
Beyond lending and credit card tiering, we plan to partner with various DePIN (Decentralized Physical Infrastructure Networks) companies to offer a Buy Now, Pay Later (BNPL) facility. These DePIN companies love that we bring in hundreds of thousands of users who can get their product without an upfront payment. We'll tier access for these users based on their Credible Score.
For DeFi integrations, the core idea is to integrate our credit pool with more distribution partners to bring in additional liquidity. We currently offer 16% fixed APY on stablecoins (USDC/USDT), which is a major draw for LPs (Liquidity Providers).From a Web2 standpoint, we're a Web2.5 platform. We use DeFi only for the credit and risk modeling aspects. Because we partner with other regulated fintechs, we provide them with API-based access to abstract the crypto experience. This includes using our systems for fraud detection, anomaly monitoring, and AML (Anti-Money Laundering) compliance.
My experience with the OnePiece Labs accelerator, especially with KJ, has been great. He's very straightforward, which is exactly what you need in a mentor. He helped us get into the right PMF mindset. We're still working on new credit trails, like India to China, based on those discussions.
The program also provided valuable introductions to other angels and mentors. For example, we secured an Angel check from Michael because of the guidance from OnePiece Labs. It was an overall brutally good and completely unfiltered experience, which I highly recommend to other founders.
Our biggest unannounced win is a partnership with a US-licensed MSB. This will enable direct on-ramp in the US, meaning we won't have to rely on third parties for our clients to onboard. This end-to-end flow will allow us to work with many neobanks that currently aren't integrated with stablecoins, as the crypto experience will be completely abstracted for them. We expect to go live with this by the end of next month.
Other major milestones include the launch of our Canada-to-India remittance corridor, an underserved market in stablecoin settlements. Through Credible, users can access superior FX rates — as high as ₹90 for every $1, compared to the typical market rate of ₹85–86.
We’re also expanding into trade finance by enabling Buy Now, Pay Later (BNPL) solutions for Indian importers purchasing goods from China. To support this, we’ve partnered with a network of 5,000 merchants in Shenzhen, offering a 0% interest BNPL program where merchants pay a commission that covers our cost of capital.These developments strengthen our dual focus on remittance and trade finance rails. In just the last 30 days, we’ve processed over $20 million in transaction volume, and we’re on track to reach $30 million this month. Once our U.S. corridor goes live, we anticipate surpassing $100 million in monthly volume.At Credible, our mission is to transform the credit landscape by making access to finance faster, cheaper, and more inclusive for emerging markets.
The most crucial lesson was the extensive grinding for PMF. Initially, we tried to build what was trending or what VCs wanted. The mindset shift was realizing: let's just build what the market wants and where we already have a customer.Don't build for the hype. If you have good numbers, the VCs will come to you.
Four months ago, we were seeking investment; today, we are cash flow positive and considering raising debt instead of a traditional VC round. This position was achieved solely because we found a solid PMF, and that success is what builds the most confidence in you as a founder.
