How CaribSend Works
CaribSend uses USDC stablecoin and local merchants to deliver money faster and cheaper than traditional remittance services.
The Transfer Flow
Sender Initiates Transfer
A sender in the US opens CaribSend and enters how much they want to send (e.g., $500) and the recipient's details in Jamaica, Trinidad, Guyana, or Barbados.
- Real-time exchange rate displayed
- Recipient gets exact local currency amount shown
- Transfer fee: 3.5% (competitive vs 8-12% traditional)
Payment via Zelle or CashApp
The sender pays using their preferred method — Zelle or CashApp. These are instant, free P2P payments.
- No credit card fees
- Instant payment confirmation
- Familiar payment methods for US senders
USDC Conversion & Settlement
CaribSend converts the USD to USDC stablecoin on the Base network and sends it to an assigned merchant's wallet.
- USDC = 1:1 with USD (no volatility)
- Base network fees under $0.01
- Settlement in seconds, not days
Merchant Assignment
Our system automatically assigns a verified local merchant who has available liquidity in the recipient's area.
- Merchants are KYB-verified businesses
- Assignment based on location and liquidity
- Merchant receives instant notification
Local Disbursement
The merchant disburses local currency (JMD, TTD, GYD, BBD) to the recipient via cash pickup, mobile money, or bank transfer.
- Multiple payout options
- Recipient notified when ready
- Typically under 5 minutes total
Why This Approach Works
Instant Settlement
USDC on Base settles in seconds. No waiting for SWIFT transfers or correspondent banks.
No Volatility Risk
USDC is pegged 1:1 to USD. Merchants know exactly what they're receiving.
Local Presence
Merchants already have local currency and relationships. They're the 'last mile'.
24/7 Availability
Blockchain doesn't have banking hours. Transfers work nights and weekends.
CaribSend vs Traditional Remittance
| CaribSend | Traditional | |
|---|---|---|
| Fees | 3.5% | 8-12% |
| Speed | Under 5 minutes | 1-3 business days |
| Availability | 24/7 | Banking hours only |
| Exchange Rate | Real-time, transparent | Hidden markup |
| Payout Options | Cash, Mobile, Bank | Limited |
Ready to send?
Follow our quick start guide to send your first transfer.