Pilot · October 2026 · UK & US → Nigeria · more corridors next
Send money home,
straight from a chat.
Type an amount in the chat and confirm with Face ID. Your family’s bank account receives naira. Don’t choose a payment provider: they compete to deliver every transfer, and the saving comes back to you.
Live on Telegram today. WhatsApp is coming as soon as it is approved.
- Approve with Face ID. No passwords to steal.
- Your family needs only a normal bank account.
- Rail never holds your family’s money.
The last mile
Sending money home still costs too much.
Moving money across a border takes seconds now. Turning it into naira in a real bank account is where the cost hides, inside the exchange rate where you can’t see it.
Sub-Saharan Africa is the most expensive region in the world to send money to. Rail puts every transfer up for auction, so providers compete on the rate in the open.
At the regional average, this never reaches your family:
$16.92
Send that every month and you lose $203.04 a year.
How it works
From a chat message to a bank alert in six steps.
You see the first step and the last. Everything in between is an open protocol that anyone can check, and that nobody, including us, can quietly change.
- 01
You confirm with Face ID
One approval on your phone. No password, no app to install, nothing to top up first.
Passkey signs one EIP-3009 authorisation
- 02
Your dollars wait in escrow
They sit in an open contract, not with us, until your family is paid.
RailCore escrow · AUSD
- 03
Providers bid for 91 seconds
Sealed bids first, so nobody can copy a price. Then they reveal. The lowest wins.
Commit–reveal · 150 + 150 blocks
- 04
The winner pays your family
Bank to bank, from the provider’s own account, with a reference only this transfer uses.
Rail never touches naira
- 05
The payment is proven
By the bank’s credit alert, a one-tap confirmation from your family, or a quiet dispute window.
L0 dispute window · L1 confirm · L2 bank alert
- 06
Everyone settles
The provider receives exactly their bid. Whatever’s left of the price you set comes back to you.
Change → sender · collateral released
The auction
Half a minute. Sealed bids. Lowest wins.
Every transfer is auctioned. Providers commit to a price nobody else can see, then reveal it. The cheapest provider who has staked enough to cover their bid wins, and the difference goes back to the sender.
Order
₦50,000 → GTBank ····4471
Sender’s limit $38.40
Monad block
ReadyLicensed remittance company
London
Waiting to bid$32.88
to deliver ₦50,000
Free stake $250,000Individual provider
Abuja
Waiting to bid$32.61
to deliver ₦50,000
Free stake $1,500New provider
Port Harcourt
Waiting to bid$32.97
to deliver ₦50,000
Free stake $30
Three providers are ready to bid on this transfer. Press run.
Simulation, sped up · the real auction takes 91s
- Why seal the bids?
- On an open ledger a bid is public the moment it lands in a block. Unsealed, everyone would just undercut the last price by a cent.
- Why 110% collateral?
- A provider always has more locked than they could take. Walking away costs more than delivering.
- Who keeps the saving?
- The sender. The winner receives exactly their bid. The contract returns the rest. Rail takes no cut of the spread.
Safety
We never hold your money. Providers stake theirs.
Rail doesn’t touch naira. It can’t. The winning provider pays from their own bank. Until the payment is proven, your dollars stay locked in an open contract, with the provider’s stake locked beside them.
That is not a promise that nothing can go wrong. It is a different trust model: instead of trusting a provider you have never heard of, you rely on collateral, escrow and settlement anyone can check. A provider that fails to deliver loses more than it could have taken, and that stake comes to you.
Flip the switch to see both endings.
Payment proven
The bank alert matches ₦50,000 and this transfer’s reference.
EscrowProvider
Their bid, nothing more
$38.22
EscrowYou
The rest of your limit
$0.18
Provider’s stakeProvider
Released after delivery
$42.05
Your family has ₦50,000. You paid $38.22.
The stolen-phone test
Someone takes over your chat. What can they do?
Apps that approve in the chat
If a PIN typed into the chat approves payments, whoever controls the chat can find or guess it, and send your money.
Rail
They can draft a payment. Only your Face ID can approve one, and your face isn’t in the chat. The chat proposes; your phone decides.
Works even if we disappear
Settling and refunding are open to anyone. No server of ours has to be running for you to get paid or refunded.
Bank details stay private
Your family’s account number never goes on the public ledger. Only a sealed fingerprint of it.
A record nobody can edit
Provider reputation is counted from what they actually delivered. There is no setting to change it, not even for us.
Why Monad
The auction only works because the chain is this fast.
Sealed-bid auctions are decades old. On a transparent ledger a bid is public the moment it lands in a block, so it has to be committed first and revealed later, which makes two rounds. On most chains that takes too long, or costs too much, to sit inside a payment.
On Monad a round is measured in blocks, not minutes. Our pilot runs 150 blocks each way, about 91 seconds for both rounds and final settlement, at near-zero fees. The windows are that wide so a person can bid by hand and not only a bot, which is what makes this a market anyone can join. And every sender is a new Monad account, created with a passkey by someone who has never used crypto.
“We didn’t invent the auction. We’re the first people who could afford to run it.”
- Block time
- 300msOne tick of the auction
- Finality
- 600msA won bid is settled, not provisional
- A full sealed auction
- ~91s150 commit blocks + 150 reveal blocks
- Fees
- ≈0Near-zero, so a $50 transfer is worth auctioning
Block time and finality: monad.xyz
Under the hood
- AUSD by Agora, native EIP-3009
- Passkey accounts by Mera
- Gas paid by a relayer, never the sender
- Permissionless finalize & refund
- Commit–reveal auction · 110% collateral
- Salted commitments, no PII on-chain
For providers
Have naira? Earn by delivering it.
Licensed companies and individuals bid in the same auction, under the same rules. No brand, no balance sheet, no permission needed. Just stake, and a bank account you already use.
On the pilot today: two automated providers bid on every transfer, with simulated bank payouts. The next milestone is the first five to ten real providers on the Nigeria corridor. If nobody bids, the sender is refunded automatically.
- 01
Stake
Lock dollars as collateral. It’s what makes senders trust a stranger.
- 02
Bid
Your bot bids on the transfers you want, at the rate you choose.
- 03
Pay
Win, and send naira from your own bank with the transfer’s reference.
- 04
Earn
Receive your bid in dollars once the payment is proven. Your stake unlocks.
Pilot · October 2026
Money that gets home.
The pilot runs from the UK and US to Nigeria, with real families and real providers. The auction does not care where the money lands, so Ghana, Kenya, India and the Philippines come next, and a business paying a supplier in Europe or Asia uses the same rails.