Shasnani

7 ms·

1.
by Shasnani 2y ago
Hey! We're adding countries as we hear from users that have demand there — are you from Tunisia / would you like to see it supported? If so, please reach out at shahryar@gokarsa.com and I'd love to chat
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by Shasnani 2y ago
Hey -- thank you for this feedback. Honestly, a huge (and obvious) oversight on our part. Gonna fix this shortly.
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by Shasnani 2y ago
Hey Rafay -- this is super thoughtful advice. Will reach out, would love to talk more about this.
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by Shasnani 2y ago
Thanks! Frankly, the order matching will be pretty simple at the beginning: Match buyer/seller payment methods, make sure buyer order ≥ seller's available amount, then pick lowest price option. We just have to query the escrow con
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by Shasnani 2y ago
We're fully pursuing all KYC/AML/Sanctions restrictions. Couldn't operate as a US fintech company without doing this.
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by Shasnani 2y ago
We're planning on enabling passkeys! Agreed that phone 2FA is not ideal, just the current setup.
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by Shasnani 2y ago
Absolutely following all US Sanctions and AML policies (setting up more rigorous KYC, transaction screening, MTLs etc. as we speak). We're a US company and intend on doing this the right way.
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by Shasnani 2y ago
Correct! There's certainly a lot of regulations to navigate, but we are strict about NEVER touching the fiat in any country; just connecting buyers and sellers.
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by Shasnani 2y ago
User B is sending a peer-to-peer transaction, akin to a Zelle or Venmo. In most other countries, these peer-to-peer payments (PIX, UPI, etc.) do billions of transactions per month. And since you're sending your own funds, you're n
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by Shasnani 2y ago
Thank you, we hope it does help a lot of people. We use privy, one of the best-in-class wallet providers that basically creates a self-custody wallet, but uses email/phone/social auth (and encrypts/shards the actual keys). So
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by Shasnani 2y ago
Hahaha we've had this conversation internally a couple of times. Definitely a few places that we'd probably avoid. But also plenty of others (e.g., Kenya, LatAm, Turkey, etc.) that have been quite friendly and would be fine to vis
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by Shasnani 2y ago
Hey, I'm going to add support for this immediately! I'd love to chat a bit more and hear about the situation there; do you mind reaching out with your contact to shahryar@gokarsa.com?
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by Shasnani 2y ago
You'd use our platform! User A sends local currency to User B's fiat account. User B sends stablecoins (earned via salary, trading, mining, etc.) to User A's digital wallet (that we've created for them).
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by Shasnani 2y ago
I see this take a lot, and there's some truths to it, but I'd like to take the other side of the argument. These stablecoin issuers are enormous buyers of US treasuries: "Tether Holdings owned $97.6 billion worth of US Treasu
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by Shasnani 2y ago
So the entire premise is that you really can't just 'buy dollars' in the majority. of these countries, hence the need for stablecoins. And I don't think I would characterize this as a high-risk currency; it's essent
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by Shasnani 2y ago
Thanks! While we want to have constructive conversations with some of these governments (I actually believe it's possible), ultimately we can't stop hostility / regulations against crypto. What we can do is offer our service
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by Shasnani 2y ago
Yeah, there's definitely edge cases that make this difficult — though these are the same problems that users may already face on existing P2P exchanges — now we're just getting more involved in the customer service and support :D.
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by Shasnani 2y ago
We're serving customers in Africa, LatAm, & South Asia at the moment — but yes, nonetheless, we'll be pursuing an MSB and are planning on using infrastructure providers with MTLs to make sure we're fully licensed to handl
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by Shasnani 2y ago
I can totally see where you're coming from on this, but I think the way users on these countries see it is entirely different—-a couple notes in response: - Users in these countries already use exchanges like Binance almost like a doll
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by Shasnani 2y ago
Would love to hear more from you on this — why do you feel self-custody is a concern? For context, we're using Privy ( https://docs.privy.io/guide/security/ ), which encrypts (and never stores) the private keys
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Launch HN: Karsa (YC W25) – Buy and save stablecoins internationally
129 points by Shasnani 2y ago|224 comments