Instantwire introduction

What is Instantwire?

Instantwire is an innovative remittance service that leverages blockchain technology and the peer-to-peer concept to enable local money transfers, even if the sender and receiver are in different countries.


RENEC Blockchain base
Non blockchain experience


Short term: Facilitate seamless USD and VND transfers.
Long term: Become the leading global platform for secure and affordable money transfers.

Target customers

Blockchain enthusiasts
Remitano users
Renec users
Regular remittance users
Vietnamese living abroad
International students
Online businesses
International money transfer operators

About Fiat and token

Fiat vs. Tokenized Currencies

Fiat: Traditional government-issued currencies like USD and VND.
Tokenized: Digital representations of fiat currencies on blockchain networks.

USD Equivalents

USD: Standard US Dollar (fiat).
USDT: Tether USD (token) on the Ethereum network (ETH). 1 USDT = 1 USD.
reUSD: Reneq USD (token) on the Reneq blockchain network. 1 reUSD = 1 USD.

VND Equivalents:

VND: Vietnamese Dong (fiat).
VNDR: (Placeholder name, likely Reneq VND) (token) on the Reneq blockchain network. 1 VNDR = 1 VND.
revND: Reneq VND (token) on the Reneq blockchain network. 1 revND = 1 VND.

What is P2P?

Directly connect with counterparties
Eliminate intermediaries and their fees (bypassing traditional financial institutions)
Send and receive money directly with other users on our platform.
Enhanced security with escrow
We hold your funds securely until the transaction is complete.
This protects both you and the receiver from fraud.
Only once the receiver confirms they have received the funds, are they released.
Benefits of P2P with escrow
Faster transactions: No waiting for banks or other institutions.
Lower fees: No hidden charges or markups.
Increased peace of mind: Secure transactions with escrow protection.

How it works?

Who involve in a transfer transaction?
Sender in us who want to send USD to VN
Receiver in us who receive USD from sender in VN
Sender in vn who want to send VND to US
Receiver in vn who receive VND from sender in US
Imagine you want to send USD to Vietnam. Instantwire finds another user who wants to send VND to the US. It's a perfect match!
Converting to Crypto
For faster transactions, your USD is converted to a token like ReUSD (backed 1:1 by USD). The other user's VND is converted to RevND (backed 1:1 by VND).
Swapping with Competitive Rates:
We use different blockchain networks for optimal speed and cost. Your ReUSD is swapped for RevND at a competitive exchange rate, beating traditional banks.

What if there's no sender on the opposite side?

Agents bridge the gap for smooth transactions
In the US
Sending USD to Vietnam
Agent sells reUSD to the sender in US.
Sender pays the agent in USD.
System releases reUSD to the sender in US.
Receiving USD from Vietnam
Agent buys reUSD from the sender in Vietnam.
Agent pays the Receiver in USD (already swapped from VND).
System releases reUSD to the agent
In Vietnam
Sending VND to the US
Agent sells reVND to the sender in Vietnam.
Sender pays the agent in VND.
System releases reVND to the sender in Vietnam
Receiving VND from the US:
Agent buys reVND from the sender in the US.
Agent pays the receiver in VND (already swapped from USD).
System releases reVND to the agent

Platforms invole



Core Backend: Handles the heavy lifting:
On-ramp: Converts fiat currencies (USD/VND) to tokens (ReUSD/ReVND).
Swaps: Facilitates secure token exchanges
Off-ramp: Converts tokens back to fiat currencies for receivers.
Agent Interface: Allows agents to:
Sell tokens to users who want to send money.
Select specific token buy orders to fulfill their sales.


User Interface: Enables users to
Create transfer requests (specify amount, currency, etc.).
Manage recipient information.
Track transaction history and progress.
Backend Integration with Nemoswap: Handles technical aspects of transactions
Prepares bond fees for sender wallets.
Integrates with Nemoswap for on-ramp, swap, and off-ramp functions.

Benefits to user

No fees
Fast and secure
Competitive rates

How we make money

IR adjustment: We apply a small margin to the interbank exchange rate (IR) to cover our operational costs and ensure platform sustainability. This margin remains transparent and competitive compared to traditional money transfer services.
Future potential: We are exploring additional revenue streams in the future, such as premium services and partnerships, while maintaining our commitment to keeping fees minimal for users.

Timeline and status

Development: All platform functionalities are fully developed and ready for launch.
Waitlist: Over 23,700 users have already signed up on our waitlist
Launch date: February 22nd, 2024
Roadmap: in 2024 we will
Enhance transfer experience for senders
Provide convinent for receiver to confirm and track the transfer initiated by the sender in another country
Automate the process for Agent to efficiently manage their daily operation
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