Osmo

Osmo sought to revolutionize the traditional banking experience by addressing the significant shortcomings that plague the industry. Conventional banking solutions are often slow, costly, and notoriously cumbersome for users, leading to widespread frustration and inefficiency. Osmo aimed to create a seamless, cost-effective, and user-centric platform that would not only eliminate these barriers but also set a new standard for what a modern financial solution should be.

To tackle these challenges, Osmo Wallet incorporated the Bitcoin Lightning Network into its platform. This integration enhances transaction speed, reduces fees, and improves security, making payments and money transfers more accessible and efficient. The app’s user-friendly interface further simplifies the process, allowing users to send and receive money with ease through the Bitcoin network. Additionally, ongoing development focuses on refining advanced functionalities, such as sending money via SMS and auto-converting currencies, to enhance the overall user experience.

This project has been extremely successful, helping Osmo achieve several significant objectives over the past two years. We built a base of nearly 10,000 active users and successfully migrated 100% of their user base to a new backend without any major issues. The Osmo team has also secured substantial funding, winning The Wolf Bitcoin Accelerator in New York, which brought in $1.2 million USD, and an additional $200K USD at the Volcano Summit. Moreover, efforts to increase the number of revenue-generating users have resulted in a rise from 4% to 9.48% by mid-quarter, surpassing the typical 7% conversion rate seen in similar applications.