<h2>Summary</h2>
<p>Bloque offers an open API infrastructure that allows developers to easily integrate prepaid debit card functionality into their platforms, with balances securely stored on Kusama&rsquo;s blockchain. Targeting financial exclusion in Latin America&mdash;where 25% of the population is unbanked&mdash;Bloque eliminates the costly barriers, regulatory challenges, and technical difficulties typically associated with issuing debit cards. Unlike standalone wallets, Bloque serves as infrastructure for businesses, enabling them to provide branded, non-custodial debit cards that users can load with stablecoins, use via mobile wallets or physical cards, and even withdraw cash worldwide. This approach not only promotes financial inclusion but also increases Kusama&rsquo;s blockchain activity, as each transaction generates on-chain fees in KSM.<br /><br /><br /></p>
<h3>We're different</h3>
<p><img src="https://i.ibb.co/1w1JCRb/Bloque-Pitch-deck-6.png" alt /></p>
<h2>TL; DR;</h2>
<p><a href="https://www.youtube.com/live/kBX1RXwROy8?si=G1T9ymPBgJIUZ7Tf&amp;t=454"><img src="https://i.ibb.co/nMLC54XG/Screenshot-2025-02-17-at-15-15-39.png" alt /></a>
</p>
<h2>Resources</h2>
<ul>
<li>Full proposal <a href="https://docs.google.com/document/d/1J98P2-shkrODJEnFinJkDoVEN-JviygWfIocRo7l7ag/edit?tab=t.0">document.</a></li>
<li><a href="https://docs.google.com/document/d/1J98P2-shkrODJEnFinJkDoVEN-JviygWfIocRo7l7ag/edit?tab=t.0">Website.</a></li>
<li>First customer <a href="https://www.ycombinator.com/companies/coco-wallet">Coco Wallet YCS19</a> and <a href="https://drive.google.com/file/d/1yOyvpNZvc043MvF61o6oppkY9rJ0gsqB/view?usp=sharing">letter of intent for 450K and 3,500 Users.</a></li>
<li>Contract with Visa &amp; Pomelo to issue debit cards, bank statements, please request via DM in @david:bloque.team in Element.</li>
<li>Preview <a href="https://api.bloque.app/docs/accounts">API Documentation.</a></li>
</ul>
<h3>How it works</h3>
<p><img src="https://i.ibb.co/CKsh6Y4F/diagram-export-2-17-2025-2-58-28-PM.png" alt /></p>
<h3>Partners</h3>
<ul>
<li><strong>Pomelo + Visa (Debit card issuer):</strong> Pomelo is a pioneering fintech transforming card issuance in Latin America. Its cloud-native, API-driven platform lets banks and fintechs launch secure, scalable cards rapidly. Partnering with Mastercard and Coastal Community Bank, Pomelo modernizes payments and drives financial inclusion.</li>
<li><strong>Truora (KYC/KYB):</strong> Truora is a Latin American startup simplifying user verification and fraud prevention. Its API-driven platform offers background checks, digital identity, and KYC tools to help businesses onboard customers securely, reduce fraud, and boost conversion</li>
<li><strong>Bancolombia (Our Bank):</strong> Bancolombia is Colombia&rsquo;s largest bank, boasting 146+ years of trusted service. With 30M+ customers, extensive branch and ATM networks, and innovative digital solutions, it drives financial inclusion, supports sustainable growth, and champions economic progress across Latin America.</li>
</ul>
<h3>Meet our first customer</h3>
<p><a href="https://www.youtube.com/watch?v=JzP1vXJq7zQ&amp;t=2714s&amp;ab_channel=TheKus"><img src="https://i.ibb.co/sd0gp7sF/Screenshot-2025-02-25-at-17-02-55.png" alt /></a></p>
<p>we introduced CocoWallet, building on the success of <a href="https://www.cocomercado.com/landing/">CocoMercado</a>, a remittance-based food service that&rsquo;s supported Venezuela&rsquo;s elderly through 7,000,000 expats. Now, CocoWallet is tackling financial exclusion in Colombia by launching debit cards with Bloque for the unbanked&mdash;and we&rsquo;re bringing this to Kusama.</p>
<p>Our goal is to onboard 3,000+ unbanked Colombians in the next few months. Here&rsquo;s how we&rsquo;ll do it on Kusama:</p>
<ul>
<li><strong>Decentralized Design:</strong> Funds will be held in non-custodial wallets on Kusama&rsquo;s Asset-Hub, with all debit card transactions pay fees in KSM. No banks, no centralized control&mdash;just user-owned value.</li>
<li><strong>Kusama Benefits:</strong> These 3,000 new users will become KSM holders, boosting adoption. Each card swipe will generate on-chain micro-transactions, increasing network activity and rewarding validators.</li>
<li><strong>Scalability:</strong> After this pilot, we&rsquo;ll scale to 10,000 users across Latin America by 2025, funded by transaction fees but no endless treasury asks. Banks are obsolete. We want to drive a transformation that enables every organization to provide financial services&mdash;starting with a debit card. We aim to free finances for people, and to do this, we need your support.
</li>
</ul>
<h1>FAQ</h1>
<ul>
<li>
<p><strong>Why funding us?</strong> We are an experienced team with a proven record of building Web3 products. Now, we want to use Kusama in everyday cases worldwide.</p>
</li>
<li>
<p><strong>Which regions are supported?</strong> Mainly LatAm starting in Colombia &amp; Mexico with worldwide availability via Passport.</p>
</li>
<li>
<p><strong>How will this API handle key material since the wallets are non-custodial?</strong><br />We use a combination of proxy accounts with defined spending limits. In addition, the &ldquo;debit callback&rdquo; endpoint with 3D Secure prompts users to authorize (i.e., sign) transactions&mdash;effectively meaning the user &ldquo;sells&rdquo; crypto to us so that we can complete the payment on their behalf. Our security model is based on Shamir&rsquo;s Secret Sharing: at setup, the holder sends us one part of the secret while keeping the other part secure across multiple devices. When a transaction is authorized, the two parts are combined to complete the transaction.</p>
</li>
<li>
<p><strong>How are redemptions processed?</strong><br />Today&rsquo;s redemption channels include Brale Rails (conversion across 10+ chains to USDT/USDC), a DEX liquidity pool for KSM/dUSD, and direct debit card transactions.</p>
</li>
<li>
<p><strong>Do day-to-day COP inflation swings pose a risk?</strong><br />Yes, they can. To mitigate this risk, we maintain only small COP buffers in the bank while holding most of our treasury in USD.</p>
</li>
<li>
<p><strong>How will the system mitigate potential volatility given that settlement can take several days?</strong><br />Limiting USD buffer sales to twice daily (e.g., morning and afternoon) may expose us to unexpected volatility. Ideally, we offload USD as frequently as market conditions allow. When that isn&rsquo;t feasible, we rely on compensation accounts, short-term COP buffer loans, SWIFT transfers, and OTC channels to quickly convert USD into COP liquidity.</p>
</li>
<li>
<p><strong>How would a chargeback or clawback be handled?</strong><br /><strong><em>For same-day chargebacks</em></strong>&mdash;such as paying $5 with KSM for an Uber ride and then canceling&mdash;the system applies an adjustment credit by deducting $5 from the USD buffer, converting it to KSM, and crediting your account. <strong><em>For delayed clawbacks</em></strong>&mdash;like purchasing a $20 card with KSM on Temu but receiving a faulty product&mdash;we detect the issue via Visa&rsquo;s invoices and balance sheets. In the next payment cycle, we net the amounts between our accounts; for instance, if we owe Visa $100 but receive $20, we pay only $80, converting the extra $20 into KSM and crediting your account.</p>
</li>
<li>
<p><strong>Whats the relationship with Virto?</strong> BloqueDAO is a Virto-spinoff established as a self-governing DAO in Kreivo. We&rsquo;re leveraging on the Kreivo technology to support non-custodial management of the funds every user tops-up in their Kusama Pay cards.</p>
</li>
</ul>

Summary
-------

Bloque offers an open API infrastructure that allows developers to easily integrate prepaid debit card functionality into their platforms, with balances securely stored on Kusama’s blockchain. Targeting financial exclusion in Latin America—where 25% of the population is unbanked—Bloque eliminates the costly barriers, regulatory challenges, and technical difficulties typically associated with issuing debit cards. Unlike standalone wallets, Bloque serves as infrastructure for businesses, enabling them to provide branded, non-custodial debit cards that users can load with stablecoins, use via mobile wallets or physical cards, and even withdraw cash worldwide. This approach not only promotes financial inclusion but also increases Kusama’s blockchain activity, as each transaction generates on-chain fees in KSM.  
  
  

### We're different

![](https://i.ibb.co/1w1JCRb/Bloque-Pitch-deck-6.png)

TL; DR;
-------

[![](https://i.ibb.co/nMLC54XG/Screenshot-2025-02-17-at-15-15-39.png)](https://www.youtube.com/live/kBX1RXwROy8?si=G1T9ymPBgJIUZ7Tf&t=454)

Resources
---------

*   Full proposal [document.](https://docs.google.com/document/d/1J98P2-shkrODJEnFinJkDoVEN-JviygWfIocRo7l7ag/edit?tab=t.0)
*   [Website.](https://docs.google.com/document/d/1J98P2-shkrODJEnFinJkDoVEN-JviygWfIocRo7l7ag/edit?tab=t.0)
*   First customer [Coco Wallet YCS19](https://www.ycombinator.com/companies/coco-wallet) and [letter of intent for 450K and 3,500 Users.](https://drive.google.com/file/d/1yOyvpNZvc043MvF61o6oppkY9rJ0gsqB/view?usp=sharing)
*   Contract with Visa & Pomelo to issue debit cards, bank statements, please request via DM in @david:bloque.team in Element.
*   Preview [API Documentation.](https://api.bloque.app/docs/accounts)

### How it works

![](https://i.ibb.co/CKsh6Y4F/diagram-export-2-17-2025-2-58-28-PM.png)

### Partners

*   **Pomelo + Visa (Debit card issuer):** Pomelo is a pioneering fintech transforming card issuance in Latin America. Its cloud-native, API-driven platform lets banks and fintechs launch secure, scalable cards rapidly. Partnering with Mastercard and Coastal Community Bank, Pomelo modernizes payments and drives financial inclusion.
*   **Truora (KYC/KYB):** Truora is a Latin American startup simplifying user verification and fraud prevention. Its API-driven platform offers background checks, digital identity, and KYC tools to help businesses onboard customers securely, reduce fraud, and boost conversion
*   **Bancolombia (Our Bank):** Bancolombia is Colombia’s largest bank, boasting 146+ years of trusted service. With 30M+ customers, extensive branch and ATM networks, and innovative digital solutions, it drives financial inclusion, supports sustainable growth, and champions economic progress across Latin America.

### Meet our first customer

[![](https://i.ibb.co/sd0gp7sF/Screenshot-2025-02-25-at-17-02-55.png)](https://www.youtube.com/watch?v=JzP1vXJq7zQ&t=2714s&ab_channel=TheKus)

we introduced CocoWallet, building on the success of [CocoMercado](https://www.cocomercado.com/landing/), a remittance-based food service that’s supported Venezuela’s elderly through 7,000,000 expats. Now, CocoWallet is tackling financial exclusion in Colombia by launching debit cards with Bloque for the unbanked—and we’re bringing this to Kusama.

Our goal is to onboard 3,000+ unbanked Colombians in the next few months. Here’s how we’ll do it on Kusama:

*   **Decentralized Design:** Funds will be held in non-custodial wallets on Kusama’s Asset-Hub, with all debit card transactions pay fees in KSM. No banks, no centralized control—just user-owned value.
*   **Kusama Benefits:** These 3,000 new users will become KSM holders, boosting adoption. Each card swipe will generate on-chain micro-transactions, increasing network activity and rewarding validators.
*   **Scalability:** After this pilot, we’ll scale to 10,000 users across Latin America by 2025, funded by transaction fees but no endless treasury asks. Banks are obsolete. We want to drive a transformation that enables every organization to provide financial services—starting with a debit card. We aim to free finances for people, and to do this, we need your support.

FAQ
===

*   **Why funding us?** We are an experienced team with a proven record of building Web3 products. Now, we want to use Kusama in everyday cases worldwide.
    
*   **Which regions are supported?** Mainly LatAm starting in Colombia & Mexico with worldwide availability via Passport.
    
*   **How will this API handle key material since the wallets are non-custodial?**  
    We use a combination of proxy accounts with defined spending limits. In addition, the “debit callback” endpoint with 3D Secure prompts users to authorize (i.e., sign) transactions—effectively meaning the user “sells” crypto to us so that we can complete the payment on their behalf. Our security model is based on Shamir’s Secret Sharing: at setup, the holder sends us one part of the secret while keeping the other part secure across multiple devices. When a transaction is authorized, the two parts are combined to complete the transaction.
    
*   **How are redemptions processed?**  
    Today’s redemption channels include Brale Rails (conversion across 10+ chains to USDT/USDC), a DEX liquidity pool for KSM/dUSD, and direct debit card transactions.
    
*   **Do day-to-day COP inflation swings pose a risk?**  
    Yes, they can. To mitigate this risk, we maintain only small COP buffers in the bank while holding most of our treasury in USD.
    
*   **How will the system mitigate potential volatility given that settlement can take several days?**  
    Limiting USD buffer sales to twice daily (e.g., morning and afternoon) may expose us to unexpected volatility. Ideally, we offload USD as frequently as market conditions allow. When that isn’t feasible, we rely on compensation accounts, short-term COP buffer loans, SWIFT transfers, and OTC channels to quickly convert USD into COP liquidity.
    
*   **How would a chargeback or clawback be handled?**  
    **_For same-day chargebacks_**—such as paying $5 with KSM for an Uber ride and then canceling—the system applies an adjustment credit by deducting $5 from the USD buffer, converting it to KSM, and crediting your account. **_For delayed clawbacks_**—like purchasing a $20 card with KSM on Temu but receiving a faulty product—we detect the issue via Visa’s invoices and balance sheets. In the next payment cycle, we net the amounts between our accounts; for instance, if we owe Visa $100 but receive $20, we pay only $80, converting the extra $20 into KSM and crediting your account.
    
*   **Whats the relationship with Virto?** BloqueDAO is a Virto-spinoff established as a self-governing DAO in Kreivo. We’re leveraging on the Kreivo technology to support non-custodial management of the funds every user tops-up in their Kusama Pay cards.

- **Problem Statement:** Addressing financial exclusion in Latin America where 25% of the population is unbanked.
- **Significance:** Bloque aims to eliminate costly barriers, regulatory challenges, and technical difficulties associated with issuing debit cards, promoting financial inclusion and increasing Kusama's blockchain activity.
- **Proposed Solution:** Bloque offers an open API infrastructure for businesses to provide branded, non-custodial debit cards that users can load with stablecoins, use via mobile wallets or physical cards, and withdraw cash worldwide.
- **Expected Outcomes:** Onboarding 3,000+ unbanked Colombians initially, scaling to 10,000 users across Latin America by 2025, generating on-chain fees in KSM with each transaction, and driving financial transformation without relying on traditional banks.

#499 Empower businesses to launch debit cards and store their value in Kusama.