Rafiki's “Corridor”: Mexico's PCH remittance use case
06.11.23 4:00pm - 25m
The People's Clearinghouse (PCH) is a community-owned tech platform for payments and financial services, that interconnects community banks and savings coops. By implementing Rafiki, PCH will use ILP to record financial obligations that correspond to incoming remittances sent from US-based wallets (which also implement Rafiki) towards PCH's participants. This demo aims to demonstrate the technical viability of the model, namely the interoperability between Rafiki's decentralized system and the clearinghouse's centralized system, which involves the routing, quoting and recoding of obligations between both systems. The settlement process involved in this remittances' use case is out of the scope of the demo, but we'll present our solution in its main lines.