Sikoba Research Sàrl, 24 Val St André, L - 1128 Luxembourg (Luxembourg company number B229147)

Sikoba Ltd, 20-22 Wenlock Road, UK - London N1 7GU (UK company number 10283521)


home of the IOU economy

SikobaPay is a blockchain-based system to register, track and clear debt.

Our goals are to reduce money dependency, boost local economies in developing countries and allow the unbanked to establish a credit history.

Informal credit, i.e. using IOUs instead of cash, is widely used in developing countries to overcome money scarcity. SikobaPay provides the technology to make informal credit much more effective:

  • Because debt is registered on a blockchain, users obtain legal certainty;

  • Users can transact beyond their immediate circle of trust, as SikobaPay identifies trusted intermediaries;

  • SikobaPay automatically clears circular debt, thus reducing the need for cash settlement.

Become a Tester

We are currently looking for testers for the next release of the sikobaPay platform. 

For more information: 

Become a Partner or Ambassador

We would like to partner with local area experts, networks, businesses and NGOs who can work with us to set up pilot studies and introduce the sikobaPay platform to local communities that would benefit from it. 

For more information: 


Maria and Abi are business owners in the same community. By granting each other credit lines and using IOUs, they can reduce the amount of cash they need to transact with each other.

Lee is a well known and member of the community. Tara has just started her business. Although they do not trust each other equally, they can both use Sikoba IOUs to reduce their dependency on money.

Credit Conversion allows SikobaPay users who do not know or trust each other transact using IOUs through trusted intermediaries. Sikoba’s basic and most important rule is that a user will only ever have credit exposure to those they have expressly chosen to trust.

Clearing — the same tallying and offsetting of debts and credits that was historically done at trade fairs — but on a more rapid and ongoing basis. The result is that money is only needed to repay residual balances rather than the full financial value of all trade. 


Use Cases

Alternatives for


Micro-credits can carry very high interest rates, sometimes over 50% annualised. They can also be difficult to obtain, especially in remote areas. Bank money will always be needed for some purchases, such as specialised equipment. However, when artisans and merchants start using their own credit on the SikobaPay platform for local trade, their reliance on micro-credits may decrease significantly. 


Jump-Starting Local Economies for the World’s Unbanked

In some situations, the poverty is such that even the access to micro-credit is very limited. Here, a system such as SikobaPay can help to jump-start local economies. Once people realise that bank money is not absolutely necessary, and have a tool for precisely keeping track of mutual credits and debits, even primitive economics may get a boost.

Inter-Company Credit


Groups of companies that do business with each other on a regular basis, for example because they are located in the same geographical region, will profit from setting up interco credit systems.

Instead of systematically paying each other's invoices, they register invoices in the system and only pay residual balances after periodic clearing. As a result, less bank credit is needed. 


Amsterdam, Netherlands

Local Currencies

Setting up local currencies is a natural use case for SikobaPay. We aim for an easy set-up that will make it possible to start a local currency even for very small communities. Local currencies using SikobaPay will become easily exchangeable with other local currencies. Also, such currencies can be tied to local cost of living indices.

Crisis Money

When a financial crisis hits, local and even central governments may find a need to quickly issue new monetary instruments. SikobaPay aims to provide more flexibility than the banking system, while being linked to state-of-the art KYC systems.

News & Events

Take a look at our latest Sikoba Update!

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