- 🖊️ Startup Name: DolarApp
- 📍 Headquarters: Mexico City, Mexico
- 📅 Year Founded: 2021
DolarApp tackles the financial challenges encountered by Latin Americans in managing their finances and accessing banking services in dollars, including the issue of dealing with volatile currencies. The company's primary objective is to offer convenient access to dollars and cryptocurrencies.
Notably, they identified a significant problem faced by approximately 20 million Mexican citizens who annually travel to the United States; many of them carry cash instead of cards and rely on airport exchange houses with unfavorable spreads for currency conversion.
Furthermore, the remittances between the U.S. and Mexico, totaling about $50 billion each year, have been subject to exorbitant fees, averaging 5% of the total amount sent.