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About ARQ
ARQ is a Latin American digital banking app, renamed from DolarApp in August 2026, offering dollar and euro accounts, international receiving details, a Mastercard card and US stock and ETF investing to residents of Mexico, Colombia, Argentina and Brazil. Balances are held as USDc and EURc, virtual assets rather than deposits: top-ups convert at the live mid-market rate plus a spread through local banks or fintech rails, withdrawals sell back, cross-border payments charge a flat fee per transfer over local clearing plus stablecoin rails, and investment orders route through Alpaca Securities.
The lineup covers a personal account, paid memberships and ARQ Business with corporate treasury, bulk payouts and company cards with spend controls. Clients are freelancers, cross-border small businesses and remote teams. Against multi-currency accounts such as Wise, the balance is a stablecoin settling around the clock; against crypto wallets, it keeps local receiving details and card acceptance.
ARQ, formerly DolarApp, was founded as a stablecoin-based dollar savings app for Latin Americans facing currency depreciation. It graduated from Y Combinator's Summer 2021 batch, gaining early backing. In March 2026, ARQ closed a $70 million Series B co-led by Sequoia Capital and Founders Fund, one of the largest fintech rounds in the region amid a funding downturn. The same period marked its rebrand to ARQ, reflecting expansion from savings into multi-currency accounts, cross-border transfers, and investment products across four Latin American countries. The company reports over $10 billion in annualized transaction volume and two million users, positioning itself as a regional cross-border banking platform.
In March 2026 ARQ raised a $70 million Series B led by Sequoia Capital and Founders Fund. The Mexico-based app, previously known as DolarApp, uses USDC for cross-border transfers and connects traditional bank rails, digital wallets, multi-currency accounts and a debit card, serving more than two million customers in Latin America with annualised transaction volume above $10 billion.
The round funds ARQ's rebrand, hiring and a wider product set: from dollar-denominated transfers into wealth management, high-yield local currency accounts and lending, with the goal of becoming a regional digital bank built on stablecoin payments. ARQ says its own infrastructure links bank networks to stablecoin settlement directly, so users can hold foreign currency and pay or get paid across borders without going through a centralised exchange. Outside Mexico ARQ bundles multi-currency accounts and foreign exchange into one app, reducing reliance on local brokers and banks.
Future strategy and roadmap: ARQ will roll out high-yield local accounts and credit starting in Mexico, connect more local clearing channels, and build business collections, payouts and payroll into a second growth line.
Fernando Terrés — Co-founder & CEO; former Revolut executive leading overall strategy.
Zach Garman — Co-founder & CPO; previously led Revolut crypto product.
Álvaro Correa — Co-founder & COO; former Revolut executive overseeing operations and growth.
Formerly DolarApp, part of Y Combinator Summer 2021 batch.
ARQ charges a 0.5% conversion fee on the total amount when converting between local currency and digital dollars or digital euros, which the company defines as an all-in rate with no additional FX markup.
ARQ charges only a $4.99 shipping cost for its physical card, issues the virtual card free of charge, and levies no annual or account maintenance fee on the card.
ARQ holds a Gibraltar financial services regulator (GFSC) virtual asset arrangement provider registration, an Argentina securities commission (CNV) virtual asset service provider registration No. 92, and a Brazil central bank payment institution licence (e-money, PIX).