ROLE
Product designer
Mobile, web design, strategy
DATES
2020-2022
Context
Coinbase is the largest and most trusted cryptocurrency exchange in the United States. In 2020 we saw an opportunity to help people with international money transfers via crypto making it faster, accessible and cheaper.
For initial pilot we've picked Mexico which has roughly 30 billion total money transfers between USA on yearly basis. Most of the time a person in the US sends money to friends and family in Mexico (known as remittance). However at the time, Coinbase users in Mexico can't store fiat (local currency) on Coinbase Mexico exchange for legal reasons. But what if partner with local remittance company to help users get top cash more easily? That's exactly what we did and here is the user journey:
User journey from sender to receiver
Sender experience
One of the most challenging parts of the sender experience are was communication aspect of it. Crypto is already by default borderless so we had to iterate on the right language in terms of how to explain that it's a remittance transaction with ability to cash out on receiver side in places where it's usually not possible or expensive. Figuring out the right value prop was difficult. In the end we landed on 3 things: low cost, speed and convenience of getting cash.
Sender entry and education
Receiver entry and education
Receiver cash out
Web experience
North star experience - more countries and more ways to cash out
Launch and growth
While the product saw a successful launch and initial usage (increased volume from sends to Mexico), it's still early stage and there is a lot that can be built in the future. After our initial launch our CPO Surojit tweeted about the launch and read the tweet.
Since I left the project after 2022, the money transfer experience has been moved to Coinbase Wallet from the main app. Read the official announcement and watch the video for more information.
Other Coinbase products I've worked on
I've worked on many other impactful products, some of them are listed below. Most of them made hundreds of millions of dollars in revenue for Coinbase - especially Instant cash outs and Apple Pay because they allow for faster and more seamless cash transfers with less setup, people loved it. (Post 1, post 2)
Layer 2 crypto sends
Instant cash out
Apple Pay, Google Pay
Send, Receive crypto