Charm is a universal payments app designed to simplify personal finance by enabling users to send money to anyone, regardless of the platform they use—such as Venmo, Cash App, or Zelle—without requiring a separate sign-up. Charm consolidates payments into a single app and balance, with added benefits like earning interest and cashback.
The platform operates with the philosophy of 'One app. One balance. With interest.' Users can add funds to their Charm account and receive up to 2% cashback. Balances in Charm accounts automatically compound at competitive rates (for example, 5.15% Live APY) with no fees or lock-up periods, making it an attractive option for those looking to grow their money passively.
Technically, Charm functions by identifying a user on the chosen destination payment platform to fulfill requests, leveraging smart contracts and cryptographic technology for secure transactions. Funds deposited with Charm are stored in a cryptographically secure smart contract account and held as USDC, a fully regulated, dollar-backed stablecoin. Interest is generated through decentralized lending protocols such as Morpho, allowing users to benefit from decentralized finance (DeFi) yields in a familiar app experience.
How Does Charm Work?
Charm enables seamless money transfers across different payment platforms without forcing recipients to sign up for a new service. When a user initiates a payment, Charm locates a counterparty on the recipient's platform to fulfill the transfer. Security is maintained with the use of smart contracts, and all funds are backed by USDC stablecoin.
Key features include:
- Universal payments to major platforms (Venmo, Cash App, Zelle, with more to come)
- No separate recipient sign-up required
- Continuous compounding interest at competitive APY rates
- Up to 2% cashback when funding accounts
- No fees or balance lock-ups
- Funds secured by cryptography and smart contracts
Who Uses Charm?
Charm is primarily aimed at individuals and consumers who want a streamlined, efficient solution for managing peer-to-peer payments and earning passive income on their balances. Its universal compatibility appeals to users who frequently transact across different payment platforms and prefer a unified app for tracking, storing, and growing their money.
What Makes Charm Different?
Unlike traditional payment apps, Charm combines interoperability across major platforms with DeFi-style interest and cashback rewards, all without additional sign-ups or hidden fees. By holding balances as USDC and utilizing decentralized lending, Charm offers both transparency and higher yields than many traditional banking products.
Where is Charm Based?
Charm is headquartered in New York City, New York.
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