Request Network is a decentralized payment system built on blockchain technology that enables anyone to request payments and receive money through secure means without requiring third parties. It functions as an open-source protocol for creating, sharing, and fulfilling payment requests with automatic real-time reconciliation. ^[1][2]

Overview

Request Network serves as a financial infrastructure layer that simplifies invoicing, payments, and accounting processes for businesses and individuals.

The platform removes intermediaries from payment processes, resulting in lower transaction costs while maintaining high security standards. By leveraging blockchain technology, Request Network creates immutable records of all transactions, providing transparent and auditable payment histories.

The protocol operates across multiple blockchains, including Ethereum and Polygon, allowing users to create payment requests in various cryptocurrencies and fiat currencies.

Each request contains information about the payment recipient, amount, and optional terms and conditions that effectively transform simple requests into formal invoices. Once created, these requests are documented and stored on the blockchain, enabling all parties to track invoices and payments for accounting purposes.

Request Network has processed over $1 billion in transaction volume, handles approximately 30,000 monthly transactions, and serves more than 3,000 companies. The platform's infrastructure is designed to be modular and flexible, allowing developers to build various financial applications on top of the protocol. ^{[1] [2]}

Technology

Protocol Architecture

Request Network's architecture consists of several key components that work together to enable its functionality:

1. Request Gateway: Provides high-level APIs that allow seamless interaction for managing blockchain keys, identity, gas purchases, and other functions through a developer-friendly interface ^[1].
2. Payment Processors: Connect Request to various payment networks (including Bitcoin, Ethereum, and fiat currencies), detecting payments and updating request statuses automatically ^[1].
3. IPFS Integration: Uses the InterPlanetary File System for content-addressable, peer-to-peer storage and sharing of payment data in a distributed system ^[1].
4. Request Node: Batch transactions, store them on IPFS and Ethereum, and abstract gas and infrastructure complexities for users ^[1].
5. Smart Contracts: Handle the core logic of the protocol, including request creation, payment detection, and status updates ^[2].

Cross-chain Capabilities

Request Network supports cross-chain payments, allowing users to pay invoices using different cryptocurrencies than those specified in the original request. This functionality enables greater flexibility for both payers and payees, as it accommodates various token preferences while maintaining accurate accounting records ^[3].

Payment Types

The platform supports several payment methods:

1. Native Payment: Direct payment in the requested cryptocurrency
2. Conversion Payment: Payment in a different cryptocurrency than requested
3. Declarative Payment: Manual confirmation of off-chain payments
4. Swap-to-Pay: Automatic conversion of one cryptocurrency to another for payment
5. Batch Payment: Paying multiple requests in a single transaction
6. Escrow Payment: Funds held in a smart contract until conditions are met
7. Streaming Payment: Continuous payment over time. ^[4]

Features

Invoicing

Request Network provides comprehensive invoicing capabilities that allow businesses to:

• Create and send professional invoices with customizable templates
• Track payment status in real-time
• Maintain an immutable record of all invoice history
• Automatically reconcile payments with invoices
• Support for multiple currencies and payment methods

The platform's invoicing system is designed to integrate with existing accounting software, making it easier for businesses to adopt blockchain-based payment solutions without disrupting their current workflows ^[5].

Payments

Request Network facilitates various payment scenarios:

• Direct Crypto Payments: Accept payments in over 25 blockchains with low fees and instant settlement
• Cross-chain Payments: Allow payers to use different cryptocurrencies than those requested
• Marketplace Payments: Enable transactions between multiple parties on platforms or marketplaces
• Salary Payments: Streamline payroll processes with cryptocurrency

The payment infrastructure is designed to be scalable and efficient, with real-time payment detection and automatic status updates ^[6].

API Integration

Developers can integrate Request Network's functionality into their applications through the Request Network API. This allows for:

• Creating and paying requests with a single API call
• Setting up webhooks for real-time payment notifications
• Managing API keys programmatically
• Customizing the payment experience for end-users

The API is designed to be developer-friendly, with comprehensive documentation and support for various programming languages ^[7].

REQ Token

The Request Network protocol is powered by its native utility token, REQ, which was launched in 2017. The token serves several purposes within the ecosystem:

1. Anti-spam: Prevents abuse of the network by requiring token stakes
2. Governance: Enables token holders to participate in protocol decisions
3. Staking: Allows users to earn rewards by supporting the network
4. Discounts: Provides reduced fees for frequent users
5. Independence: Ensures the protocol can operate without reliance on external funding

The REQ token has a maximum supply of 1 billion tokens, with approximately 844.29 million in circulation as of May 2025 ^[8].

History and Development

Request Network was founded by Christophe Lassuyt and Etienne Tatur, who serve as the president and vice-president of the Request Network Foundation, respectively. Both founders are YCombinator alumni and previously co-founded MONEYTIS ^[9].

The project launched its token sale in October 2017, raising approximately $33.6 million. Since then, the platform has undergone several major developments:

• 2018: Initial protocol launch on Ethereum mainnet
• 2020: Introduction of the Request Invoice product
• 2021: Launch of cross-chain payment capabilities
• 2022: Implementation of payment streaming and escrow features
• 2023-2025: Expansion to additional blockchains and enhancement of API capabilities

The development roadmap has consistently focused on improving usability, expanding supported payment methods, and enhancing the developer experience ^[1].

Use Cases

Request Network serves various industries and use cases:

Business Finance

• Invoicing and Payments: Streamlines the creation, sending, and payment of invoices
• Expense Management: Simplifies tracking and reconciliation of business expenses
• Payroll: Enables crypto-based salary payments with automatic tax calculations
• Accounting: Provides immutable records for audit purposes

Marketplaces and Platforms

• Peer-to-peer Transactions: Facilitates direct payments between users
• Escrow Services: Holds funds until conditions are met
• Multi-party Payments: Manages complex payment flows involving multiple stakeholders

DeFi Integration

• Yield Generation: Connects with DeFi protocols to generate yield on held funds
• Lending: Enables invoice financing through DeFi lending platforms
• Tokenized Receivables: Allows for the tokenization and trading of future payments

Partnerships and Ecosystem

Request Network has established partnerships with various organizations and is used by numerous companies across the blockchain ecosystem. Notable users include:

• Aave: Decentralized lending platform
• Ledger: Hardware wallet manufacturer
• Gnosis: Prediction market and multi-signature wallet provider
• NEAR Protocol: Layer 1 blockchain
• The Sandbox: Blockchain-based virtual world
• PwC and Deloitte: Professional services firms
• OpenZeppelin: Smart contract security company^[1]

The ecosystem also includes various tools and applications built on top of the Request Network protocol, such as:

• Request Checkout: Payment solution for dApps and online stores
• Request Invoicing: Web3 invoicing platform
• REST API: Simplified interface for creating payment requests.^[5]