DolarApp allows users to open a bank account going from peso to dollar dominated stablecoin USD Coin (USDc) and back in seconds. They can also save in USDc, earning 3% annually, and pay with an international Mastercard with up to 4% cash back. In addition, users can send and receive payments in the United States for a flat fee of $3 versus the $3 fee plus 2% charge that other money transfer companies charge. The company makes money from the flat transfer fee and from revenue on the balances.
DolarApp was founded by three ex-Revolut employees; Zach Garman, Álvaro Correa and Fernando Terrés, who were part of the Y Combinator Summer 2021 batch.
