Table of Contents

Table of Contents

Mission

Structural Barriers to Financial Inclusion in Emerging Markets

The PACT Protocol

The PACT Consortium

PACT Investor Wallet

The $PACT token

Extending PACT Technology to Developed Markets

Legal and Compliance Framework

Conclusion

Contact Information

Download Whitepaper as .PDF

3 - The PACT Consortium

3.1 - Overview of Consortium

The PACT Consortium aligns key stakeholders in the financial and blockchain industries and is the largest digital asset consortium focused on emerging markets. Current members include:

  • Key Partners and Contributors

  • Pact Labs: pactlabs.xyz
    Advanced blockchain solutions enabling end-to-end asset issuance (previously called Lucid Finance).

  • BitGo: bitgo.com
    Secure digital asset custody and liquidity solutions.

  • Aptos: aptosfoundation.org
    Scalable blockchain infrastructure powering PACT’s technology.

  • Celo: celo.org
    Mobile-first blockchain platform for financial inclusion.

  • USDT: https://tether.to
    Stablecoin protocol facilitating seamless transactions.

  • Exchanges & Wallets

  • Quidax: quidax.com
    Cryptocurrency exchange focusing on emerging markets.

  • Micropay: getkredu.com
    Microtransaction solutions for the unbanked.

  • Asset Managers and merchant banks

  • Tiberia Asset Management: tiberia.capital
    Led by experts with experience managing over $100 million in credit.

  • BSFG: bsfg.finance
    Merchant bank specializing in emerging markets.

  • Stablecoin Providers

  • Tether (USDT): tether.to
    Widely adopted stablecoin pegged to the US Dollar.

  • Mento: mento.org
    Stablecoin protocol on the Celo platform.

  • Paxos: paxos.com
    Regulated blockchain infrastructure platform.

3.2 - Pact Labs

At the foundation of our consortium is Pact Labs (formerly named  Lucid Finance), our infrastructure provider and builder of the initial PACT protocol. Built on the advanced architecture of fellow consortium member Aptos, PACT is a significant leap forward compared to traditional digital credit approaches that simply tokenize existing assets by importing data created elsewhere onto the blockchain.

PACT Labs also builds supporting software and infrastructure for originators and other consortium members, including APIs and SDKs to interface with the PACT protocol; on- and off-ramp integration; dashboards and other products for managing loans and credit facilities on PACT (available on subscription); and related products like the PACT Investor Wallet and the Kredu app.

3.3 - Case Study: Kredu - Expanding Access to Financial Services in Africa

Kredu, built on the PACT Protocol by Pact Labs, is transforming access to credit in Africa, leveraging the widespread adoption of Opera Mini, a ​​lightweight browser with over 1 billion downloads on Android. Opera Mini’s mission to connect Africa to the internet has expanded into financial services with MiniPay, a seamless Web3 wallet embedded directly within the browser. This integration connects underbanked Opera users to stablecoin-powered financial solutions.

3.3.1 - MiniPay: A Gateway to Web3 Financial Services

MiniPay operates as an easy-to-use, near-zero-fee global payment rail powered by the Celo blockchain and USD stablecoins. MiniPay is currently live in 50+ countries, offering:
  • Effortless Signup: Users can onboard quickly with minimal friction.

  • P2P Payments: Peer-to-peer transactions within the app are fast, secure, and cost less than $0.01 per transaction.

  • Integrated On/Off Ramps: Users can easily convert stablecoins to local currency and vice versa, bridging the gap between traditional and digital finance.

3.3.2 - Kredu: A Loan Aggregator Powered by PACT

As the exclusive borrowing app within MiniPay, Kredu aggregates loan offerings from a network of regulated fintech originator partners across multiple markets. Designed to serve micro-entrepreneurs, Kredu provides a seamless and reliable borrowing experience by connecting users to loans underwritten by trusted partners.
  • Technology Provider Role: Kredu is a technology provider that facilitates the connection between borrowers and originators without issuing loans or bearing credit risk.

  • Borrow and Repay in Stablecoins: Loan disbursements and repayments are conducted entirely in stablecoins through MiniPay, ensuring secure and efficient transactions.

  • Efficient Loan Sourcing: By aggregating borrowers, Kredu offers originators a steady stream of pre-vetted users, reducing customer acquisition costs and enhancing operational efficiency.

3.3.3 - Transparency and Compliance

Kredu’s functionality is powered by the PACT Protocol, ensuring end-to-end transparency and regulatory compliance:

  • Loan Origination and Servicing: Loans are underwritten and issued exclusively by regulated fintech originator partners who assume all credit risk.

  • On-Chain Transparency: Every aspect of the loan lifecycle—from application to repayment—is executed on the blockchain, ensuring an immutable and auditable record.

  • Data Protection: Kredu adheres to stringent local and international data privacy standards, safeguarding user information while ensuring compliance.

3.3.4 - Driving Financial Inclusion

Kredu primarily serves micro-entrepreneurs who face significant barriers to traditional credit. Through its originator network, Kredu provides fast, reliable, and low-cost loans, opening up growth opportunities for businesses and individuals. For borrowers, this means access to much-needed capital; for originators, it translates into reduced risk and streamlined operations.