It is already available in Mexico, Chile, Colombia, Peru and Argentina, and has over 50,000 downloads.
August 22, 2023 10:30 a.m.
Dollarize, the fintech that allows you to open an account in dollars in the United States, has landed in Argentina. It has been available for a month and, according to the CEO of the company, Diego de la Campain just over 30 days, more than 10 thousand Argentines the money entered the platform.
The application receives pesos and immediately converts them into dollars, at any time of the day. Additionally, the funds can be withdrawn when needed. Dollarize claims to be another solution for any Argentinian to save in dollars and to be an alternative to the devaluation of the peso.
How Dollarize Works
The procedure to start trading on the platform is simple. People open an account in just 5 minutes, with one dollar, and can deposit funds in the local currency from their bank account or credit card. When entering the weights, the platform takes the dollar CLC to convert them into dollars. Then the dollars are stored on the platform and in a bank account in the United States, they explain to Forbes Argentina.
The customer sees the money trickling down to the US within minutes and as a fintech it is activated 24 hours a day, 365 days a year. This way, you can send money on a Sunday at 8 p.m. from the comfort of your home. also dollarize It allows you to send and receive funds between people from different countries connected to the application instantly and without commission.
To open an account, the customer must complete his registration by providing his personal data, identification and selfie, in accordance with regulations in the United States. There are no account opening fees or monthly payments for account management. The deposit amount can be made from 1 dollar. $0.50 is charged for each withdrawal, the CEO explains.
We are democratizing access to the dollar”, says Diego de la Campa. He adds that we want to offer users in Latin America a service of protection against devaluation, facilitating access to other services and accounts such as sending and receiving resources and savings.
Dollarize is a financial company registered as a Money Services Business (MSB) with FinCEN, an office of the United States Department of Treasury.
In terms of cybersecurity, the platform has extensive two-step prevention and authorization protocols, where an SMS is sent to the person to verify that they are the user and give their authorization.
Dollarize projects in the region
Currently, Dollarize is already available on Mexico, Chile, Colombia, Peru and Argentina. It already has over 50,000 downloads. Its core mission is to serve as a trusted pathway for individuals seeking a safe and regulated pathway to engage in dollarization in the United States.
With a three-year strategic vision, Dollarize is committed to cultivating a large customer base spanning one million people, each with an estimated cumulative savings of $1,000. Beyond that, Dollarize aspires to venture into hitherto unexplored markets in Asia and Africa, expanding its global presence.
Additionally, it offers its customers the autonomy to access their dollar holdings on demand, with the added convenience of converting them into local currency through the established network. MoneyGram. This service is effortlessly accessible through a range of outlets across different countries.
Currently, from Dollarize, you can make immediate and free transfers between accounts even if customers live in different countries, withdraw money in more than 400 thousand establishments worldwideand soon there will be a dollar debit card and other payment services, delves into Diego de la Campa.
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