DolarApp

DolarApp is a Mexican fintech platform that enables users in Latin America to access digital dollar accounts using USD Coin (USDC) stablecoin technology. Founded in 2021 by former Revolut employees Fernando Terrés, Zach Garman, and Álvaro Correa, the company provides a mobile-first solution for converting local currencies to digital dollars and vice versa in seconds. The platform primarily serves users in Mexico, Argentina, Colombia, and Brazil who seek to protect savings from currency devaluation and access stable dollar-denominated financial services. DolarApp offers multiple products including a digital dollar account with CLABE number for receiving transfers, international Mastercard (DolarCard) for global spending with transparent exchange rates, US account details for receiving remittances and international payments, and investment options in US stocks and ETFs. Target customers include digital nomads, remote workers, freelancers receiving USD payments from platforms like Deel and Upwork, cross-border travelers, and individuals seeking protection from local currency volatility. The company raised a $5 million seed round in 2022 led by Y Combinator and Kaszek Ventures with participation from over 50 angel investors. DolarApp operates as a facilitator connecting users with digital dollar liquidity rather than functioning as a traditional bank or licensed fintech institution, though it complies with local regulations related to virtual assets and card operations. The platform generates revenue from flat transfer fees (typically $3 USD for US transfers) and yields on user balances.