# Designing the Business Stack for the Open Internet

- Channel: [Dappcon](https://streameth.org/dappcon)
- Date: 2025-06-17
- Duration: 12:39
- Watch: https://streameth.org/watch/68519d9e4ac43bf73d67b71f

## 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. Just myself. My name is Sharon. My co-founder is a bit shy. He's pretending to be shy. His name is Sonny in the crowd. He just waves. So if you just see any one of us, if there's a QR at the back, just hit us up. They're part of the HQ team. Now, I'm going to hand it over to Sharon. So who are we? I think today's is really just an introduction on exactly who are we, because you might have read about us online or maybe knew about it, you know, as your working industry. So it's really an introduction properly to really who we are and what we are doing for the NOSYS family now. So you probably already know about NOSYS Pay, the consumer cards, that's partnering up, for example, other players like Zeal, Picnic. We are basically finishing the finance stack for NOSYS in the business side. So all of us, if you're running a startup or project on-chain, you probably really feel the pain of banking. Hopefully, we can solve it for you. Okay. So we call it Business Accounts Reinvented for Stablecoins. So all these three brands, probably brands that you already know from a whole different spectrum. I will say how on-chain they are. Fellow other chain members, for example, Mento, NFTs, NFTs are sometimes a lifesaver, I will say, so Pixelmon, and even regular fintech industry players like Picnic 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, they're all users of us over the past year or two, now probably powered by NOSYS HQ. All right. Okay. So I think a lot of us, you know, it's mainstream that Stablecoins is now in the payment space. If you're not just using Twitter, but using LinkedIn, I think every day there's at least one article talking about Stablecoins, it's definitely quite mainstream now. But I will say that... Okay, so really quick fun fact, they have definitely evolved a lot in the past five years. I personally was fortunate to have worked in a Singapore Stablecoin project called StraitsX, and back then, it was actually 2019. The total market supply of some major USB Stablecoins were only $1.9 billion. All right. Far forward in the short span of five to six years' time, it has actually done a crazy hundred times. So this research was done by Alien, commissioned by Visa, to really find out the Stablecoin growth globally. So a hundred times in five, six years is really quite insane. So that's why, finally, I guess it hits mainstream, right, and all of these crazy billion-dollar acquisitions happening. So from almost $2 billion to now $200 billion. And this is just talking about USB Stablecoins. What more do non-USB ones? 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 Stablecoins specifically, which is very important, I would say, for the business use case, because a lot of times businesses are afraid of, overnight, our banks shutting us down. 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 Stablecoins? Because actually, truly, we're just at the start, right? The market is really huge. So we all know WISE, for example. So for them, you know, first fun fact, we dug around their annual reports, and we ourselves found that, hey, they consider business B2P payments as a $37 trillion industry. Very large. When you look at just, like, $200 billion rate growth, 100 times over the past few years, but bring that forward to almost a $37 trillion market growth 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 $3 billion, right? So another vendor, on-chain provider, Optimist, has estimated that we're only just around $3 billion when it comes to business payments using Stablecoins. So largely, I would say most of the time it's in retail. We all know it could be happening in trading, DeFi, or consumer P2P payments. But it's still, we're just very, very, very early when it comes to business payments. And for us, I think that's really what motivates us, when we see the market size of business payments being so large, being on-chain, so we're just happy to be part of that movement. So yeah. So beyond actually on-chain, so later I'll show you guys a real demo. Our profile today is still servicing largely, I would say, on-chain companies. But we are excited in a couple of years' time to hopefully tap into non-Web3 native companies. For example, all of these very traditional industries that you can see on board, where at the end of the day, they are the ones forming the bulk of the volume. Okay. Yeah. So, quick introduction. At the end of the 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 are, I think, quite spoiled in terms of them making the user experience really good. Unfortunately, when it comes to on-chain business payments, not quite. They're still at the start. If you actually want to make payroll, you'll probably take pride sometimes in how fragmented it is. So, for us, it's still hard. 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. So, definitely to bring in your own account or wallet, for example, save for others as they start to expand. And that's our philosophy, right? You should still have the freedom to decide how you want to custodize your assets. But at least for us, our goal here is to really bridge to the reality for businesses. And businesses' realities are a bit heightened. We're not just talking about payments as it is fast, but it has to be compliant. It has to be safe enough. And there's a lot of accountability that we're subjected to. So, there's a lot of reporting stuff that comes with payments. So, hopefully, as we start to build the modules that you see as boxes, we get to solve that. So, lastly, two categories, payments and reporting. And, of course, as there's funds in your either cards or balances, we don't just make it idle there. Yeah. So, I'll go through it in greater detail. By high level, we're all about extracting the fragmentation. So, select any stable coins that you want. You can basically pay a team member or vendors in their bank account direct. No longer do you need to just off-ramp and then pop up a separate FinTech account or a bank account. We actually want to make it as a one-step process. Next, also, fun fact. So, it's already been live, finally, but now we're going to rebrand it as Gnosis HQ. So, coming from Singapore, all my transactions, for example, were paid for by our HQ card. Yeah. So, you can see it live on my Apple card. It's live, as well, in your Google Pay. 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 you get to experience really what am I talking about through slides. Okay. So, this is an actual live account. So, you can see the website here. It's not like a staging or demo. It's an actual live one, but you actually go and sign up an account. Hopefully, this is what you experience. So, two things. You deal with all things payments or reporting in multiple ways. We know that, at the end of the day, for a lot of us as crypto folks, we have to deal with the realities of, like, rental, bank payroll, vendor payouts, right? So, we make it easy. If your vendor accepts crypto, you can just pay them directly through stablecoins. But, in reality, if they demand that 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 WalletConnect, we can connect it to there. And, you see here, these are various payment networks, whether it's a local payment network here or there's an international SWIFT, we can support it, as well. So, multi-currency is completely fine. So, you can see there's USD, there's Singapore dollars, euros coming up soon, pounds, as well. And, how we do it is that we have kind of worked with many licensed payment gateways so that, again, everything is compliant. There's no worries on the front of the recipient. 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 before you execute. Again, this is not so much of an on-chain transfer. It's really hitting someone's bank account. Next, I will say for cards. Okay. So, these cards, virtual cards, is really what we emphasize on all the time because I think in business expenses, sometimes for budgeting, it's good to have one card for marketing, one card for HR, and things like that, right? So, just have a card here, and the transaction is fully on-chain, and don't worry about additional fees and stuff. We are super transparent. It's all online. You will really know how much fees are charged by ourselves, Visa, and other partners. It works near instant. When we actually tap, it's as good as instant. Finally, all these payments go to a consolidated reporting. So, these are demo accounts. You can see a couple of our transactions here. We do support multiple chains. Some of these chains, obviously, but also other popular EVMs. Finally, all this, what does it amount to? If you just want basic reporting, it's something simple like this, but if your team actually goes down to actual audits or accounting, it gets very easily pushed into your normal software. So, okay. So, that's about it. So, in summary, just making sure that your on-chain payment is also real from a business perspective. So, this is probably the last few slides, just showing how real it is. So, I kind of have been traveling around with the card, all the way to Malaysia, now Berlin, for example. I came from Singapore, so we're registered there. So, we have the card, and you can see that we actually—I think that's the beauty of a card. The minute you have a card, 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. Obviously, the merchant doesn't accept just stablecoins as is, but I paid the merchant using WeChat Pay, because in Chinese restaurants, they actually accept only WeChat payments, but I actually funded my WeChat Pay wallet with our corporate card, and that was how I ran around in Malaysia, at least for that week. So, it's possibly exciting to actually see how card in action, even not just online, that things are being standardized, but even offline, connected to really local payment networks. Okay, so again, wrapping up. So, this is my team. It's really just a quick introduction of who we are, and hopefully you'll see us more and more, whether in person or online. So, really proud to be part of the Roses 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. If there's any questions. No? Okay, we've been around for the whole week. Yeah, so if you see any of us, just come talk to us. Thank you.