Hi all.
I came here to propose a vision of an app / app extention that might give the Polkadot ecosystem the much needed boost and adaption.
I am no coder nor do I have the means to create anything like this. I just wanted to share and hope the community will like it and take this further.
Thanks!
Also: focussing on Europe is more about useing the current momentum rather than excluding anyone. I feel that Europeans are more reluctant to crypto and blockchain technology and would appreciate this integrated approach.
SubWallet+ — A Product Extension Proposal
To the Polkadot Community
How Polkadot’s existing infrastructure could become Europe’s first blockchain-powered super-app for everyday users — driving mass adoption through simplicity, security, and European financial sovereignty.
To the Polkadot Community
This proposal is addressed to the Polkadot community — the most appropriate place to discuss, evaluate, and route ideas that could meaningfully advance Polkadot’s mainstream adoption. The community has the ability to debate this concept openly, connect it with the Web3 Foundation, and potentially fund or coordinate its development through established governance processes.
The product concept described here — SubWallet+ — uses SubWallet as a concrete example of how an existing Polkadot-native wallet could be extended into a consumer super-app. SubWallet is referenced because it already has the deepest parachain integration, an open-source codebase, and a real user base. However, the community may have other ideas, different teams, or alternative implementations in mind. That is entirely the point of bringing this here.
What follows is a product proposal: a vision for how Polkadot’s existing infrastructure could be made accessible to everyday European users — without crypto knowledge, without complexity, and without dependency on US financial infrastructure.
The proposal in one sentence: Connect existing European financial infrastructure — Monerium, Acala, Polkadot parachains — through a single, simple interface that anyone can use without any crypto knowledge.
All at once, but easy.
1. The Opportunity
1.1 Polkadot’s Missing Link
Polkadot has solved the hard problems: shared security, native interoperability, a thriving parachain ecosystem. The technology is ready. What is missing is a product that makes all of this real for an everyday user.
Polkadot does not have a technology problem. It has an accessibility problem. SubWallet+ is the solution.
1.2 The European Market Moment
BuyEurope sentiment is translating into structural demand for alternatives to US-dominated financial infrastructure. No single product currently offers the full combination:
- Online payments without a credit card or US processor
- Yield above bank rates — without any crypto complexity
- Instant liquidity access — without a credit check
- A fully European technology stack, MiCA-compliant from day one
- Non-custodial architecture with consumer-grade UX
That combination is SubWallet+.
2. The Vision: What SubWallet+ Is
2.1 More Infrastructure, Less Perceived Complexity
SubWallet+ is not about adding more features. It is about a new abstraction layer — hiding complexity the user should never have to see, while giving access to capabilities no single existing product offers today.
This is historically how transformative products work:
| Product | What it actually did |
|---|---|
| Online banking | Did not reduce banking functions — it hid the branch and the paperwork |
| Smartphones | Did not simplify computing — they abstracted the operating system |
| PayPal | Did not build a new payments network — it abstracted Visa, clearing, and settlement |
| SubWallet+ | Does not build new DeFi — it abstracts Acala, Monerium, and Polkadot into one screen |
The core thesis:
The user must never know when they are using a bank, a stablecoin, or a DeFi protocol.
The connection of fiat and crypto becomes imperceptible — seamless, automatic, invisible. The user simply sees their money: growing, available, payable. They never need to know which world they are in.
“All at once, but easy” is not a feature list. It is an abstraction promise.
2.2 What the User Experiences
One screen. One balance. Everything available with one tap. No mental model of wallets, chains, or protocols required.
┌─────────────────────────────────────────────────────────┐
│ Your Balance │
│ │
│ € 1,240.00 │
│ │
│ Protocol yield today: +€ 0.34 · Risk: Balanced │
│ Powered by Polkadot · Non-custodial · European │
│ │
│ [ Pay ] [ Add funds ] [ Liquidity ] [ Support ] │
└─────────────────────────────────────────────────────────┘
Behind this screen: EURe on Polkadot · Acala yield pools · Monerium IBAN · SubWallet key management. All invisible. All working. All European.
2.3 The Core Promise
All at once, but easy. One login. One balance. One experience. No app-switching. No linked accounts. No repeated authentication. No infrastructure decisions.
You decide your risk — SubWallet+ simplifies the execution.
3. Onboarding: Familiar, Simple, Secure
3.1 The Flow
| Step | Action | What happens |
|---|---|---|
| 1 | E-Mail & Password | Create your account. No crypto knowledge needed. |
| 2 | KYC Verification | Identity check — once, inline, takes 2 minutes. |
| 3 | Wallet Created | SubWallet generated automatically in the background. Fully non-custodial from the start. |
| 4 | Dashboard | See your balance in euros. Deposit, earn, pay — right away. |
| → | Later: Secure Account | Export your Recovery Phrase when ready. Your keys, your control. |
3.2 The Seed Phrase Approach
Recovery Phrase — available, not forced:
The wallet is fully non-custodial from the moment of creation. The recovery phrase exists and belongs entirely to the user.
It is surfaced after onboarding via: “Secure your account — export your Recovery Phrase.” This follows the same trust model as SubWallet today, with a UX that does not frighten away non-crypto users at the first screen.
Recovery: standard SubWallet seed phrase import. Monerium re-verification via the same KYC flow.
4. Why Polkadot Is the Right Foundation
4.1 Parachain Architecture vs. Bridge Architecture
| Traditional Bridge Approach | SubWallet+ Parachain Architecture |
|---|---|
| External bridge contracts — additional trust layer | XCM-native cross-chain messaging — no external contracts |
| Each chain has its own security model | Shared Polkadot relay chain security for all parachains |
| Multiple external state copies to synchronise | Parachain state coordinated natively by relay chain |
| Bridge exploits: historically a major DeFi attack vector | No bridge layer = no bridge exploit surface |
| Complex failure modes across independent chains | Coordinated finality through Polkadot — predictable behaviour |
Security through architecture — not through promises.
Fewer trust assumptions. Less complexity. More security.
4.2 From Architecture to User Experience
Layer-0 native → no bridge complexity → fewer integration layers → less friction → one seamless access point → All at once, but easy.
4.3 Polkadot Mass Adoption Through Everyday Use
| Ecosystem Component | SubWallet+ Impact |
|---|---|
| Acala | Increased TVL, higher protocol utilisation, new user segment from mainstream Europe |
| Monerium | More EURe in circulation, higher SEPA transaction volume, broader reach |
| Polkadot | Demonstrable real-world utility — mainstream press narrative changes |
| Web3 Foundation | Direct alignment with adoption and real-world utility mandate |
| SubWallet | New user segment, sustainable revenue, ecosystem leadership position |
5. How It Works
5.1 The Development Principle: Connect, Don’t Build
What SubWallet+ builds:
- A simplified consumer UX mode on top of SubWallet
- An onboarding flow for non-crypto users (email, KYC, wallet creation)
- A unified dashboard displaying EUR balance, yield, and actions
- Routing logic between Monerium, Acala, and the SubWallet wallet layer
What SubWallet+ does NOT build:
- No new DeFi protocol · No new stablecoin · No new blockchain
- No custody infrastructure · No bank · No bridge
5.2 Technology Stack
| Layer | Provider | Role |
|---|---|---|
| Interface & Auth | SubWallet+ (extended) | Simplified consumer UX — email login for new users, existing SubWallet for crypto users |
| Key Management | SubWallet (existing) | Non-custodial, user-controlled. Seed phrase available after onboarding. |
| Fiat On/Off-Ramp | Monerium (Iceland/EEA) | SEPA ↔ EURe, real on-chain IBAN, MiCA-compliant, EEA-regulated |
| Stablecoin | EURe (Monerium) | 1:1 EUR-backed, on-chain, fully European — no USDC, no USD exposure |
| Yield & DeFi | Acala (Polkadot) | LDOT staking, yield pools — user funds on-chain at all times |
| Liquidity Access | Acala lending protocol | Overcollateralised, protocol-native — SubWallet+ is interface only |
| Blockchain Layer | Polkadot + Parachains | Layer-0 native — XCM, no bridge exposure, shared relay chain security |
| KYC / AML | Sumsub or equivalent | Inline at onboarding — compliant, frictionless |
5.3 Complete User Flow
- Registration: Email/password → SubWallet+ creates embedded wallet + Monerium account (KYC inline, once)
- Deposit: SEPA to personal Monerium IBAN → EURe arrives in SubWallet automatically
- Yield: SubWallet+ routes EURe into user-selected Acala pool → protocol yield begins daily
- Dashboard: EUR balance, daily yield, risk profile — no crypto terminology visible
- Pay: EURe via SEPA or app-to-app by username or QR
- Liquidity: Protocol-backed access → SEPA payout in seconds, no credit check
- Withdraw: Balance → EURe → SEPA to bank (1–2 business days)
- Later: Export Recovery Phrase — standard SubWallet seed flow
5.4 Security Architecture
| Principle | Implementation |
|---|---|
| Interface layer only | SubWallet+ orchestrates — does not hold, lend, or issue |
| Non-custodial from day one | Keys belong to the user immediately |
| Seed phrase — user’s own | Available after onboarding; standard SubWallet recovery |
| No proprietary DeFi | Only audited protocols: Acala, Monerium (EEA-licensed) |
| No bridge exposure | Parachain-native XCM only |
| User-controlled risk | User selects profile — SubWallet+ executes, never advises |
| Transparent yield | Variable — clearly shown, never guaranteed |
6. Feature Set
Phase 1 — Core
| Feature | Description |
|---|---|
| Yield Account | EUR balance, daily protocol yield, risk profile (conservative / balanced / growth) |
| SEPA On/Off-Ramp | Via Monerium IBAN — no exchange required |
| Person-to-Person | Send by username or QR code |
| SEPA Outbound | Pay any European IBAN directly |
| Unified Dashboard | Single screen — nothing else visible |
Phase 2 — Extended
| Feature | Description |
|---|---|
| Liquidity Access | Protocol-backed — optional yield-funded repayment, no credit check |
| Merchant Button | “Pay with SubWallet+” — no redirect, no credit card |
| Multi-pool Routing | Dynamic yield routing by risk preference |
| Crowdfunding | On-chain — automatic return if campaign fails |
7. European-First Positioning
| Component | European Credential |
|---|---|
| Monerium (Iceland/EEA) | First e-money licence for blockchain — EEA-regulated, MiCA-compliant |
| Acala (Polkadot) | Decentralised — no US corporate dependency |
| EURe stablecoin | EUR-denominated, 1:1 backed — no USDC |
| SubWallet | Open source, community-owned |
| Polkadot / W3F | Web3 Foundation domiciled in Switzerland |
| No Stripe / PayPal | Zero US payment infrastructure dependency |
8. Regulatory Considerations
8.1 Recommended Domicile: Switzerland (Zug)
Switzerland is recommended for a further reason beyond regulatory pragmatism: SubWallet is currently headquartered in Hanoi, Vietnam. For a product explicitly positioned as European-first infrastructure — in the context of a growing BuyEurope movement — a Swiss domicile is not just strategically sensible, it is part of the product story. A European legal entity, governed under Swiss DLT law, reinforces the sovereignty narrative at every level: technology, regulation, and corporate structure.
- FINMA: pragmatic, crypto-forward, established DLT framework
- Swiss DLT Act (2021): legal basis for blockchain-based services
- EEA compatibility: Monerium’s licence covers the European user base
- Crypto Valley: talent, ecosystem, institutional recognition
- European domicile completes the BuyEurope story at every level
8.2 Licences Not Required
| Requirement | Status |
|---|---|
| Banking licence | Not required — non-custodial |
| Lending licence | Not required — Acala protocol, not SubWallet+ |
| E-money licence | Not required — Monerium (EEA-licensed) |
| MiFID II | Not required — user controls all risk decisions |
| SRO membership (VQF) | Likely required — standard, low cost |
| KYC / AML | Required — inline at onboarding |
8.3 Communication Principles
| Avoid | Use Instead |
|---|---|
| “Savings account” / “Interest” | “Yield Account” / “Protocol yield (variable)” |
| “Guaranteed returns” | “Historical protocol yield — variable, not guaranteed” |
| “Loan” | “Liquidity Access” / “Protocol-backed liquidity” |
| “We invest your money” | “You decide your risk — we simplify execution” |
9. Sustainability
Growth through usage — not through margins.
| Revenue Stream | Model |
|---|---|
| On/Off-Ramp fee | Minimal flat fee on SEPA ↔ EURe |
| Liquidity access fee | Small fee — optional, user-initiated |
| Merchant fee | Per-transaction on “Pay with SubWallet+” |
| Premium tier | Higher limits, multi-pool routing, priority support |
Grant & Funding Alignment
| Programme | Alignment |
|---|---|
| Web3 Foundation Grants | Mainstream adoption, real-world utility, open source |
| Polkadot Treasury | Ecosystem growth, European positioning |
| Acala Ecosystem Grants | TVL growth, EURe adoption |
| EU Digital Sovereignty | European infrastructure, MiCA compliance |
10. Roadmap
| Phase | Timeline | Scope |
|---|---|---|
| Phase 1 — Foundation | Months 1–6 | UX mode, Monerium IBAN, SEPA, yield account, KYC, Swiss legal, seed phrase flow |
| Phase 2 — Payments | Months 7–12 | SEPA outbound, P2P, merchant button, liquidity access |
| Phase 3 — Community | Months 13–18 | Crowdfunding, multi-pool yield, ecosystem grants, onboarding drive |
| Phase 4 — Scale | Months 19–24 | EU expansion, more parachains, premium tier, FinTech licence |
11. Competitive Context
| Capability | SubWallet+ | Revolut | PayPal | Klarna | Raw DeFi |
|---|---|---|---|---|---|
| Protocol yield access |  |
-- | -- | -- | |
| SEPA without credit card | |
|
-- | -- | -- |
| Instant liquidity access | |
~ | -- | ~ | |
| Crowdfunding | |
-- | ~* | -- | -- |
| 100% European infrastructure | |
~ | -- | (SE) |
-- |
| No crypto knowledge required | |
|
|
|
-- |
| Non-custodial | |
-- | -- | -- | |
| Single unified experience | |
~ | ~ | -- | -- |
| Open source | |
-- | -- | -- | ~ |
| No bridge security risk | |
-- | -- | -- | ~ |
This combination does not exist in a single product today. That is the gap SubWallet+ fills.
~ = PayPal discontinued its Fundraisers feature October 2024. (SE) = Klarna, Stockholm, Sweden.*
Closing
The Polkadot ecosystem has everything needed to build this.
The infrastructure is Polkadot. The fiat layer is Monerium. The DeFi layer is Acala. The wallet layer is SubWallet — or another Polkadot-native team the community identifies.
What is missing is the interface layer that makes all of this accessible to the 99% of Europeans who will never install a wallet extension — but who would happily earn yield on their savings, pay online without PayPal, and access liquidity without a bank.
The connection of fiat and crypto can be made imperceptible. The user simply sees their money — growing, available, payable. They never need to know which world they are in.
This proposal is offered to the Polkadot community to discuss, refine, and decide upon — openly, transparently, and in the spirit of decentralised governance.
All at once, but easy.
June 2025