Platform Vision
CaribSend is more than a remittance service — it's a cross-border payment platform with an embedded local digital wallet, serving the entire Caribbean basin.
Dual-Function Value Proposition
CaribSend combines two products into one platform: a cross-border remittance engine for the diaspora and a local wallet for daily payments across the Caribbean. This transforms the platform from a remittance pipe into an active economic instrument.
Cross-Border Remittance
Receive funds from senders in the US, Canada, and UK with integrated FX conversion, instant wallet credit, and a flat 3.5% fee — competitive against 6–10% incumbents.
Local Wallet & Daily Payments
Store funds in local currency, make peer-to-peer transfers, pay bills, and purchase from merchants — all from a single wallet with QR and POS integration.
Money Merchant Network
Licensed local merchants provide last-mile cash disbursement and liquidity, giving recipients familiar, trusted access points across the region.
Multi-Currency Support
Hold and transact in 9 Caribbean currencies from day one — JMD, XCD, TTD, BSD, DOP, GYD, BBD, HTG, and BZD — each under its own regulatory framework.
Region-Wide Market Opportunity
Total annual remittance inflows to the Caribbean are projected at approximately US$22.5 billion per year, sourced predominantly from diaspora populations in the United States, Canada, and Europe. Several Caribbean nations depend on remittances for 10–20% of GDP.
| Country / Region | Est. Annual Inflow | Key Corridors |
|---|---|---|
| 🇯🇲 Jamaica | $3.2B | US, UK, Canada |
| 🇭🇹 Haiti | $4.0B+ | US, Dominican Republic |
| 🇩🇴 Dominican Republic | $10.0B+ | US, Spain |
| 🇹🇹 Trinidad & Tobago | $200M | US, Canada |
| 🇬🇾 Guyana | $600M | US, Canada |
| 🇧🇧 Barbados | $150M | US, UK |
| 🇧🇸 Bahamas | $100M+ | US |
| Eastern Caribbean (OECS) | $500M+ | US, UK, Canada |
| Other CARICOM | $500M+ | Various |
| Total | ~$22.5B/year |
Money Merchant Liquidity Model
CaribSend operates using licensed money merchants as both liquidity providers and cash-out agents. Merchants supply local currency on demand and allow recipients to withdraw physical cash — all under contract with fees embedded in the 3.5% platform charge. Recipients pay no extra fees.
Reduced Upfront Capital
No need to pre-fund local currency pools — merchants provide liquidity on demand.
Simplified Compliance
Merchants are already licensed money service businesses with existing regulatory approvals.
Familiar Access Points
Recipients use trusted, local cash-out points they already know and visit.
Scalable Network
Add merchants to expand coverage without building physical infrastructure.
Multi-Currency Wallet Support
CaribSend's wallet infrastructure supports 9 Caribbean currencies from day one. Each currency operates under its own regulatory framework with segregated wallets and independent compliance rules.
| Currency | Code | Countries |
|---|---|---|
| Jamaican Dollar | JMD | Jamaica |
| Eastern Caribbean Dollar | XCD | Antigua, Dominica, Grenada, St. Kitts, St. Lucia, St. Vincent |
| Trinidad & Tobago Dollar | TTD | Trinidad & Tobago |
| Bahamian Dollar | BSD | Bahamas |
| Dominican Peso | DOP | Dominican Republic |
| Guyanese Dollar | GYD | Guyana |
| Barbadian Dollar | BBD | Barbados |
| Haitian Gourde | HTG | Haiti |
| Belize Dollar | BZD | Belize |
Want the full picture?
Read the full Yellow Paper for detailed unit economics, investment thesis, and competitive analysis.