ChainCatcher report: ARQ, a Latin American financial app focused on stablecoins, has completed a $70 million funding round led by Sequoia Capital and Founders Fund. The proceeds will be used for brand repositioning, hiring new staff, and expanding services beyond USD-denominated transfers to include wealth management, high-yield local currency accounts, and credit offerings. Originally named DolarApp, ARQ provides multi-currency accounts, digital wallets, foreign exchange, and debit cards to help users store and transfer funds across borders. It serves over 2 million customers in Latin America, with annual transaction volume exceeding $10 billion. ARQ states it has built infrastructure connecting traditional banking networks with stablecoin-based payment systems, enabling users to hold and transact in foreign currencies.
ARQ, a stablecoin-focused financial app, completes a $70 million funding round.
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Summary
ARQ, a financial app focused on stablecoins, has closed a $70 million project funding round led by Sequoia Capital and Founders Fund. The funds will support brand repositioning, hiring, and new services such as wealth management and credit. Formerly known as DolarApp, ARQ provides multicurrency accounts, forex, and debit cards to 2 million users in Latin America, with an annualized transaction volume exceeding $10 billion. The app claims to bridge traditional banking with on-chain infrastructure for cross-border stablecoin transactions.
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