Stablecoin Financial App ARQ Completes $70 Million Funding Round, Sequoia Capital and Founders Fund Participate

Odaily News: ARQ, a Latin American financial application focused on stablecoin services, has completed a $70 million funding round with participation from Sequoia Capital and Founders Fund. The company stated that the funds will be used for rebranding, hiring staff, and expanding into new business areas such as wealth management, local currency high-yield accounts, and credit services.

ARQ, formerly known as DolarApp, offers multi-currency accounts, digital wallets, foreign exchange services, and debit card services, supporting cross-border fund storage and transfers. It currently has over 2 million users in Latin America, with an annual transaction volume exceeding $10 billion. (Bloomberg)