nsave

nsave is a Swiss-headquartered neobank that provides people in high-inflation and currency-unstable economies with access to offshore accounts in US dollars, euros, and British pounds, using Solana-based USDC as the platform's primary crypto withdrawal rail.

The Problem nsave Solves

Offshore banking has historically been reserved for the wealthy or well-connected. For the estimated 700 million people living in economies with failing currencies, capital controls, or dysfunctional local banks — countries like Lebanon, Syria, Pakistan, Nigeria, and Egypt — safely holding money in stable foreign currency has been effectively impossible through mainstream financial channels.

nsave was founded in 2022 specifically to close that gap. The platform does not treat a user's nationality as a proxy for financial risk. Instead, it applies a proprietary dynamic assessment system that evaluates each applicant individually for KYC and AML/CFT compliance, enabling onboarding from countries that mainstream neobanks routinely decline.

Core Mechanism

nsave partners with fully regulated financial institutions in the US, EU, and UK to offer customers Swiss or UK safeguarded accounts, meaning user funds are held in segregated accounts separate from the company's own assets. Account holders receive real account details in their own name, including IBAN and ACH routing numbers, making it straightforward to receive international payments from employers, freelance platforms such as Upwork, or remittance senders.

Incoming funds can arrive via bank transfer, ACH, SWIFT, or stablecoin. Stablecoin deposits including USDC, USDT, DAI, USDP, PYUSD, and EURC across Ethereum, Polygon, Base, Arbitrum, Avalanche, Optimism, and Tron (USDT only) are automatically converted to USD on receipt, removing the need for users to manage crypto themselves after funding.

Products and Features

Accounts and transfers: Users hold balances in USD, EUR, or GBP and can send funds internationally via SWIFT, FPS (UK Faster Payments), and ACH. Transfers between nsave users via unique @ntag handles are instant and free. Local currency payouts are supported in Nigerian naira, Pakistani rupee, Bangladeshi taka, Indian rupee, Egyptian pound, Qatari riyal, and Saudi riyal, covering the platform's core emerging-market base.

Visa cards: Platinum and Infinite tier virtual and physical Visa cards allow online and in-person spending from the account balance.

Investment platform: Launched in January 2025 alongside the company's Series A funding round, nsave users can invest in US-listed stocks and ETFs directly from their account and receive dividends — a significant addition for users in countries where domestic capital markets are inaccessible or severely devalued.

Stablecoin withdrawals via Solana: While nsave accepts stablecoin deposits across multiple chains, outbound crypto transfers currently run exclusively over the Solana network using USDC. Transactions settle on-chain within seconds to minutes. The fee is 1% of the transfer amount, with a maximum of 3,000 USD per transaction. For nsave's core users — a person in Beirut or Lagos converting offshore USD savings back to crypto — Solana's speed and low transaction costs make it a practical exit path into the broader crypto ecosystem or local peer-to-peer markets.

Solana Ecosystem Fit

nsave's Solana integration is operationally focused rather than protocol-native: the platform is not a DeFi application or a Solana-native product, but Solana serves as the blockchain layer that makes its stablecoin off-ramp cheap and near-instant. The platform is listed in the Circle Alliance Directory and uses Circle's USDC infrastructure on both the deposit and withdrawal sides. PYUSD on Solana is explicitly supported as an inbound funding method alongside the Ethereum-based stablecoins.

Compliance

Crypto trading, P2P trading, and day trading are prohibited on the platform. nsave monitors transaction activity and may restrict or close accounts where such activity is detected. The company partners exclusively with regulated institutions and maintains documented KYC and AML/CFT procedures.

Team and Funding

Co-founders Amer Baroudi and Abdallah AbuHashem met at the University of Oxford, where both attended as Rhodes Scholars. Baroudi has cited personal motivation for the company: his family lost savings to currency devaluation after fleeing the war in Syria. Both founders have backgrounds in banking, regulatory compliance, and fintech.

nsave has raised two rounds of institutional funding:

• Seed (March 2024): 4 million USD, co-led by Sequoia Capital and TQ Ventures, with Y Combinator, SV Angel, ACE Ventures, and FONGIT, a Swiss government-backed innovation fund.
• Series A (January 2025): 18 million USD, with Sequoia Capital and Y Combinator among the continuing investors. The round funded the investment platform launch and further geographic expansion.

The company is headquartered in Switzerland and operates under Swiss and UK regulatory frameworks.