LatAm Stablecoin Fintech ARQ Raises $70M

The latest funding round is a significant step for a company founded by former senior figures from Revolut, Fernando Terrés, Zach Garman, and Alvaro Correa. Garman previously led the crypto product at Revolut, giving him direct experience in the digital asset space that is central to ARQ's model. The trio worked together in London between 2019 and 2021 across product and special projects teams before co-founding DolarApp, now rebranded as ARQ. This capital injection from prominent VCs like Sequoia and Founders Fund signals a strong belief in the potential of stablecoin infrastructure in Latin America. Both firms have been actively investing in the region, recognizing the flourishing startup ecosystem. For Sequoia, this follows a stated increased focus on Latin America, having previously backed major players like Nubank. ARQ is entering an increasingly competitive but rapidly growing market. Latin America processed approximately $1.5 trillion in crypto transactions through 2025, with stablecoins making up a significant portion of this volume. Key players in the region include Bitso, which processed $6.5 billion in U.S.-Mexico remittances in 2024, and Mercado Libre's recent launch of its own stablecoin, Meli Dolar, in Brazil. The company's expansion beyond remittances into embedded finance is well-timed, with the Latin American embedded finance market projected to reach nearly $39 billion by 2025 and over $50 billion by 2030. This move will see ARQ offering more comprehensive financial services, including wealth management and lending, to its more than two million users. ARQ's growth will also be shaped by the evolving regulatory landscape for digital assets in Latin America. While the region lacks a unified framework, key markets are making progress. Brazil has implemented Law 14.478/2022 to provide regulatory clarity, and Mexico is operating under its Fintech Law, creating a more structured environment for companies like ARQ to operate and scale.