The fintech’s three-year goal is to reach 1 million customers. It also hopes to land in Central America, Asia and Africa
dollarthe financial technology that makes it possible to open a file US dollar account, I landed in Argentina In order to provide a solution so that anyone can save in the said currency and Savings alternative to devalue the peso.
The app accepts pesos and converts them into dollars instantly at any time of the day, while the funds in the account are available for withdrawal when needed.
“We are working to democratize the dollar, giving it access to one of the most powerful currencies in an easy way and at a very low cost. We want to provide users in Latin America with Devaluation protection serviceHe explained that it facilitates access to other services and accounts such as sending and receiving resources and savings. Diego de la Campa, CEO and Co-Founder, Dollarize.
“For most Argentines, opening a dollar bank account in the US is complicated, so Dollarize understood this need and created a fintech solution to hold capital directly in that country,” she added of the company.
The account opening procedure is simple, it only takes 5 minutes, and it takes from $1 to start depositing money in local currency from your bank account or credit card. Additionally, the app does not charge a monthly fee for account management.
The customer sees the funds reflected in the US in minutes, and because he is a fintech specialist, he is available 24/7, 365 days; This way you can send money on Sundays at 8pm from the comfort of your own home. Dollarize also allows you to send and receive money between people in different countries connected to the app instantly and without commission.
Dollarize is a financial company registered as a Money Services Business (MSB) with FinCEN, a bureau of the US Treasury Department. Therefore, it offers accounts that are fully compliant with US regulations.
“They chose the US because it is one of the countries with the best regulatory practices, and partly because of the size of the economy, there is a large financial trading ecosystem there,” de la Campa explains. For the CEO, this is an alternative to saving for the depreciation of the peso.”
In terms of cyber security, the platform has robust systems with extensive protective protocols, and two-step authorization where an SMS is sent to the person to verify that they are the user and grant the authorization.
expectations
Dollarize is aimed at anyone who wants and can currently obtain safe and orderly dollarization in the United States People who live in Mexico, Chile, Colombia, Peru, and now also in Argentina.
By creating an easy and secure way to buy, hold and exchange dollars through a unique operating model with technology as an ally, the right partners and the right regulation, it is highly accepted in those markets.
The goal over three years is to reach one million customers, and it also hopes to reach Central America, Asia and Africa.
As can all of your clients Withdraw your dollars anytime and get them in cash with MoneyGram in local currency in any country and in different stores.
Among the advantages of this account is the ease of opening it, and the possibilities of the deposit process that transfers from bank accounts to credit cards with major companies in the world such as Visa, MasterCard and American Express; Speed where a person sees money reflected in the US in minutes and is enabled 24/7, 365 days; the ability to save in an account in the United States to protect funds from currency depreciation; And send money to anyone on Dollarize at no cost and instantly.
