Amero provides a financial infrastructure that enables unbanked individuals in Latin America to deposit, withdraw, and transfer funds using USDC through a network of over 100,000 retail locations and MoneyGram partners. By facilitating instant access to cash and cryptocurrency conversion without the need for traditional banking accounts, Amero addresses the challenges of financial inclusion and high transaction costs for underserved populations.
Funding
Funding not disclosed
Founders
Product
Problem
In Latin America, many individuals lack access to traditional banking services, hindering their ability to participate in the digital economy and manage cross-border transactions efficiently. Existing solutions often involve high fees, slow processing times, and limited accessibility, particularly for those in remote areas or without formal identification.
Solution
Amero provides a financial infrastructure that enables individuals and businesses in Latin America to seamlessly convert between local currency and USDC, facilitating deposits, withdrawals, and transfers through a network of over 100,000 retail locations and MoneyGram partners. The platform offers a non-custodial SuperApp, giving users full control of their funds and enabling instant access to cash and cryptocurrency conversion without requiring a traditional bank account. Amero also provides virtual bank accounts in the USA for receiving payments, as well as crypto-to-fiat and fiat-to-crypto conversion services. By partnering with Mastercard and Visa, Amero is launching a prepaid card that allows users to load USDC, spend it as local currency, or withdraw cash from ATMs worldwide.
Target Audience
The primary target audience includes unbanked and underbanked individuals in Latin America, remote workers receiving payments from US companies, and anyone seeking a cost-effective solution for cross-border transactions.
Features
- Support for deposits and withdrawals in over 100,000 retail locations across Latin America
- Integration with MoneyGram for instant cash access at over 35,000 locations
- Non-custodial wallet for secure storage and control of digital assets
- Virtual bank accounts in the USA for receiving payments from US companies or clients
- Prepaid card (powered by Mastercard and Visa) for spending USDC as local currency or withdrawing cash from ATMs
- Support for XLM and USDC deposits and withdrawals
- Mobile app available on iOS and Android
- Real-time transaction processing
- KYC (Know Your Customer) verification process