MarblePay - Crypto Payment Processor for Nigeria

"Stripe for Crypto" - A regulated crypto payments processor designed for Nigerian merchants and compliance

🎯 What We're Building

MarblePay is a fully regulated crypto payment gateway that enables merchants to:

• ✅ Accept crypto at checkout (USDC, USDT, and more)
• ✅ Auto-convert to stablecoins or fiat (NGN)
• ✅ Settle instantly to merchant wallets or bank accounts
• ✅ Full compliance with SEC Nigeria, CBN, and FATF Travel Rule
• ✅ Developer-first APIs, webhooks, and plugins

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🏗️ Core Product Features

1. Merchant Onboarding & Compliance

• KYB + KYC flow with document capture, liveness checks, sanctions screening
• Compliance stack: Smile Identity, Dojah, VerifyMe (Nigeria-focused)
• SEC registration under Virtual Assets framework
• CBN VASP bank accounts (designated accounts per CBN guidelines)
• AML program aligned to FATF standards + Travel Rule
• NDPA 2023 compliance (Nigeria Data Protection Act)

2. Checkout Experience

Payment Methods

• Start with USDC (Ethereum, Base) and USDT where compliant
• Multichain support: Ethereum L1, Base L2, Solana
• Note: No BUSD (Paxos halted), no MoonPay (paused Nigeria)

Flow

1. Price quote + lock: NGN/USD quote → exact coin amount + network fees + expiry
2. QR + unique address: One address per session, detect under/over/late payments
3. Confirmations: Configurable per chain (pending → confirmed → expired)
4. Refunds: Secure return with address re-verification

3. Developer Platform

# REST APIs
POST /v1/checkout/sessions
POST /v1/refunds
POST /v1/payouts
GET  /v1/transactions/:id

• Webhooks with HMAC-SHA256 signatures (Stripe-style)
• Test mode with sandbox API keys
• SDKs: JavaScript, Python, PHP
• Plugins: Shopify, WooCommerce, Next.js

4. Custody & Wallets

• Hot wallet: MPC or HSM-backed signing (Fireblocks, BitGo)
• Cold storage policy for treasury reserves
• Address book: Risk scores, allow/deny lists, velocity limits
• Auto-blacklist from sanctions lists (Chainalysis, TRM Labs)

5. Rates, Conversion & Treasury

• Quote engine: On-chain gas APIs + liquidity quotes + spread + fees
• Liquidity sources: CEX accounts, OTC desks, L2 DEX swaps
• Daily PnL tracking and exposure limits

6. Settlements & Fiat Off-Ramp

Crypto Settlement

• Same chain/asset or convert to USDC
• Settle to merchant wallet directly

Fiat Settlement (NGN)

• Partners: Yellow Card B2B rails, Transak off-ramp
• Regulated through licensed VASPs only

7. Risk, Fraud & Travel Rule

• Pre-screening: Source/destination addresses, cluster analysis, sanctions
• Travel Rule compliance: Transmit originator/beneficiary data per FATF Rec. 16
• Tools: Chainalysis KYT, TRM Travel Rule APIs

8. Dashboards & Reporting

Merchant Dashboard

• Payouts, balances, disputes, refunds
• Conversion history, fee invoices, export reports

Internal Console

• Case management, SAR/STR workflow
• Manual review queue, Travel Rule alerts

Ledger

• Double-entry accounting for assets, fees, FX PnL
• Bank reconciliation, audit exports

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🛠️ Technology Stack

Frontend

• Next.js 14+ (App Router)
• TypeScript
• TailwindCSS + Shadcn UI
• React Query for data fetching

Backend

• Node.js with NestJS (or Go for high-performance services)
• TypeScript end-to-end
• PostgreSQL (primary OLTP database)
• Redis (queues, rate limiting, caching)
• Kafka (event streaming - V2)

Blockchain Infrastructure

• RPC Providers: Infura, Alchemy, QuickNode
• Chains: Ethereum, Base, Solana
• Libraries: ethers.js, web3.js, @solana/web3.js

Custody & Security

• MPC Wallets: Fireblocks SDK or BitGo API
• KMS: AWS KMS / GCP Secret Manager
• HSM: For production key signing

Compliance & Risk

• KYC/KYB: Smile Identity, Dojah, VerifyMe APIs
• Blockchain Analytics: Chainalysis KYT, TRM Labs
• Travel Rule: TRM Travel Rule API

Observability

• Logs: Winston + Elasticsearch
• Metrics: Prometheus + Grafana
• Tracing: OpenTelemetry
• Errors: Sentry

DevOps

• Containers: Docker + Kubernetes
• CI/CD: GitHub Actions
• Cloud: AWS / GCP
• CDN: Cloudflare

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📋 MVP → V1 → V2 Roadmap

MVP (6-8 weeks)

Focus: Prove the core payment flow works

• Hosted checkout for USDC on Base + Ethereum
• Quote lock with expiry (1-2 confirmations)
• Underpay/overpay recovery
• Webhooks with HMAC signature, event log
• Test mode for developers
• Merchant dashboard lite (view payments, export)
• Payouts in USDC only
• Basic chain screening (TRM or Chainalysis)

Deliverable: Merchants can accept USDC and get paid out in USDC

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V1 (12-16 weeks)

Focus: Production-ready with fiat off-ramp

• Add USDT support
• Add Solana network
• NGN settlements via Yellow Card or Transak
• Refunds system (address re-verification)
• Partial captures & cancellations
• Multi-sig treasury wallet
• FX spread controls
• WooCommerce plugin
• JavaScript drop-in widget
• Enhanced fraud detection

Deliverable: Merchants can accept crypto and settle to NGN bank accounts

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V2 (20-28 weeks)

Focus: Scale, compliance automation, advanced features

• Travel Rule automation (originator/beneficiary data routing)
• Compliance case-management workflows
• Multi-entity accounts (sub-merchants)
• Revenue share & marketplace model
• Invoices API
• Subscriptions with pre-funded vaults
• Advanced ML risk scoring (velocity, behavioral signals)
• Shopify plugin
• Mobile SDKs (React Native)
• Expanded asset support (BTC, ETH)

Deliverable: Enterprise-ready platform with full automation

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📜 Regulatory & Compliance Checklist

SEC Nigeria 🇳🇬

• Register under Virtual Assets framework
• Track 2024/2025 ARIP guidance for transitioning firms
• Maintain updated AML policies

CBN (Central Bank of Nigeria)

• Open designated VASP bank accounts (requires SEC licence)
• Prepare onboarding docs: AML policies, directors' BVNs, etc.
• Ensure banks cannot trade crypto (can only service you)

FATF Travel Rule

• Implement originator/beneficiary data exchange
• Set thresholds for Travel Rule triggers
• Partner with TRM or Chainalysis for compliance

NDPA 2023 (Nigeria Data Protection Act)

• Appoint Data Protection Officer (DPO)
• Publish privacy policy
• Map data processing activities
• Implement DPIAs (Data Protection Impact Assessments)

AML/CFT Program

• Sanctions screening (OFAC, UN, EU lists)
• Transaction monitoring & alerts
• SAR/STR filing procedures
• Customer due diligence (CDD) & Enhanced DD (EDD)

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💰 Pricing Model

Simple & Transparent

• 1.0% - 1.5% transaction fee
• + Network fees (passed through transparently)
• Volume discounts for high-volume merchants
• Settlement currency discounts (settle in crypto = lower fee)
• Cap for large tickets (e.g., max ₦50,000 fee)

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🚫 What to Avoid

1. ❌ BUSD - Paxos halted minting, Binance ended support
2. ❌ MoonPay - Paused Nigeria service in 2024
3. ❌ Single off-ramp dependency - Always have 2+ partners
4. ❌ Retrofitting compliance - Build Travel Rule & NDPA from day one
5. ❌ Ignoring network changes - USDC no longer on Tron by Circle

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👥 Team Structure

Phase 1 (MVP)

• 1x Fullstack Engineer (Next.js + NestJS)
• 1x Blockchain Engineer (Web3, custody, RPC)
• 1x Compliance Lead / MLRO (part-time or advisor)
• 1x Designer (UI/UX for checkout + dashboard)

Phase 2 (V1+)

• Head of Engineering
• Security Lead
• DevOps Engineer
• Support Team
• Legal / Compliance Officer (full-time)

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🚀 Quick Start Guide

Step 1: Set Up Development Environment

# Clone and initialize
npm install

# Set up environment variables
cp .env.example .env

# Start development servers
npm run dev:api       # Backend API
npm run dev:web       # Frontend dashboard
npm run dev:checkout  # Checkout widget

Step 2: Configure Blockchain Connections

• Get API keys: Infura, Alchemy, or QuickNode
• Set up testnet wallets (Sepolia, Base Goerli, Solana Devnet)

Step 3: Integrate Compliance Stack

• Smile Identity API key (KYC)
• TRM Labs or Chainalysis (screening)

Step 4: Test Payment Flow

• Create merchant account
• Generate checkout session
• Make test payment
• Receive webhook
• Process settlement

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📚 Key Documentation

• Architecture Overview
• API Reference
• Webhook Guide
• Compliance Guide
• Security Best Practices
• Deployment Guide

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📞 Important Links

Regulatory

• SEC Nigeria
• CBN VASP Guidelines
• NDPC (Data Protection)
• FATF Virtual Assets Guidance

Service Providers

• Smile Identity - KYC
• Yellow Card - Fiat off-ramp
• Transak - Fiat off-ramp
• Chainalysis - Compliance
• TRM Labs - Travel Rule
• Fireblocks - Custody
• Infura - RPC Provider
• Alchemy - RPC Provider

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📄 License

Proprietary - MarblePay © 2025

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Built with 🇳🇬 for the future of payments in Africa