Startup Idea : Peer-to-peer currencies exchange app

Ok, I need to exchange some foreign currencies urgently over the weekend at a local shopping mall and the line is long. Yeah, like really long such as:

lining up

Paul Dufour

I was thinking, is there a way to short-circuit this hassle and unfavorable spread by the money changer at the end of the queue?

How I wish somehow there's a smartphone application that allows me to:

  • find interested peer nearby me that wants to exchange currencies.
  • to be safe and preferably no need to meet up with peer to exchange currencies. Never know if the person can be robber or exchange fake/tainted notes.
  • the spread is more appetizing than those offered by the brick-and-mortar money changer.
  • the peers utilizing this application have been vetted and proven to have the amount of money available for exchange purpose.
  • once agreed, the peers can proceed to transfer the money to their respective bank accounts.

currencies exchange

Christine Roy

The application maker probably can monetize by charging a small transaction fee for each transfer that took place on their application.

Go and work on this app if you like the idea. Enjoy!

Preview image credit: Matam Jaswanth

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By Adam Ng

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