Building Better Cities With Próspera

Problem

Próspera did not have a solution to track, scale, and account for payroll when using crypto.

Managing a register of employee wallets securely, and accounting for crypto funds appropriately was incredibly important to them.

Solution

The team discovered Request Finance when they were exploring how to build our payment infrastructure for businesses with crypto rails.

Request Finance is now a critical component of their payment infrastructure. It provides a simple user interface for them to pay employees in crypto, or manage crypto invoices. They love the fact that it supports the Safe multisig wallet for their corporate funds.

The team already use Request Finance across several of their entities, with plans to expand as their jurisdiction transitions to native crypto rails.  Currently they pay about 30% of our employees in USDC which they aim to get to 100% adoption this year. 

Additionally, Próspera’s governance services (residency fees & taxes) can be paid for in crypto, and a handful of entities are already managing their crypto invoicing using the Request Finance app.

Crypto payroll is their most used feature, and the recently released CSV upload has been an amazing time saver for their team each month.

Since they started using Request Finance, we have grown our crypto payroll from 0 to 22 employees, twice per month.

Low fees, affordable

When Próspera was evaluating various crypto payroll solutions, they had three things in mind: scalability as they grew, minimal cost (fees), and support for USDC.

The app allows the team to track their employees wallet addresses, and manage payroll in crypto at scale. Additionally, the low fees makes it more affordable than other alternatives.

Easy to get onboard

Many of the payroll solutions they looked at were fiat-based which meant long onboarding times, and incredibly complex KYC processes. 

Request Finance made it incredibly simple to get onboard, and start making crypto payments quickly.

“We discovered Request Finance when we were exploring how to build our payment infrastructure for businesses with crypto rails. The app allows us to track our employees wallet addresses, and manage payroll in crypto at scale. Additionally, the low fees makes it more affordable than other alternatives.”‍

Daniel Frazee, Chief Operating Officer at Próspera 

About Próspera

Governance and city-building are fundamental concepts that have shaped human civilization for centuries. However, the traditional models of public administration have remained largely unchanged over the years, despite significant advances in technology and social structures. 

The need for a modern approach to governance and city-building has never been more pressing, as people seek to create solutions that can maximize human prosperity and better meet the needs of our times.

Próspera is answering that call, with a governance platform aimed at creating new cities via special economic zones.

Its pro-business framework ensures that companies can operate under the most favorable regulatory conditions in the world. Following the successful examples of special economic zones in places like Dubai and Hong Kong, Próspera’s zone aims to bring economic development, international investment, and job opportunities in innovative industries.

Próspera’s first project is formally-administered as a Zone for Economic Development and Employment (ZEDE) in Honduras. A bustling private enclave on the tropical island of Roatán, Próspera has attracted over $90 million to date in venture funding.

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Today the company says it has several hundred employees & contractors working within Próspera’s jurisdiction, with about 70 employees under its own direct payroll.

According to Daniel Frazee, Chief Operating Officer at Próspera, one of their key initiatives in the coming year is to develop world class payment infrastructure for their businesses and residents. To achieve this, Próspera is leveraging cryptocurrency payment rails.

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How does Request Finance power Próspera?

Request is a critical component of our payment infrastructure. It provides a simple user interface for us to pay employees in crypto, or manage crypto invoices. We love the fact that it supports the Safe multisig wallet for our corporate funds.

We already use Request across several of our entities, with plans to expand as our jurisdiction transitions to native crypto rails.  Currently we pay about 30% of our employees in USDC which we aim to get to 100% adoption this year. 

Additionally, Próspera’s governance services (residency fees & taxes) can be paid for in crypto, and a handful of entities are already managing their crypto invoicing using the Request Finance app.