The problem UPI CryptoConnect solves

In today's digital landscape, cryptocurrencies are gaining popularity alongside traditional fiat currencies for daily transactions. However, a significant gap exists: there's no unified platform that seamlessly integrates both crypto and fiat transactions under a common payment method.
Currently, most digital payment applications like PhonePe and Google Pay operate exclusively with fiat currencies. They facilitate transactions in Indian Rupees (INR) and are widely used for various daily needs. On the other hand, cryptocurrencies operate on separate platforms and wallets, using different identifiers such as wallet addresses or QR codes.
The absence of a unified platform means users often have to manage multiple accounts and methods for different types of transactions. This fragmentation complicates widespread adoption and ease of use, hindering the seamless integration of cryptocurrencies into daily transactions alongside fiat currencies.
Creating a platform that bridges this gap would allow users to conduct transactions using both cryptocurrencies and fiat currencies, using a common identifier or platform. Such integration could potentially simplify transactions, enhance user convenience, and accelerate the mainstream adoption of cryptocurrencies in digital economies like India's rapidly growing digital landscape.

Challenges we ran into

Regulatory Compliance: Navigating diverse regulatory landscapes for both fiat currencies and cryptocurrencies.
Security Measures: Designing robust security mechanisms to bridge the different financial systems securely.
Value Fluctuation: Managing the fluctuating nature of cryptocurrency values to maintain consistent transaction values and exchange rates.
User Interface Design: Creating a user-friendly interface that accommodates both fiat and cryptocurrency transactions without overwhelming users with technical complexities.
Technical Integration: Integrating multiple account and transaction methods under a common platform and identifier.
Transaction Speed: Balancing the different transaction speeds and processing times between fiat and cryptocurrency transactions.
User Trust: Building trust among users for a new platform that handles both traditional and digital currencies.