Hawala provides a mobile financial account for cross-border earners, offering US and EU account details, a Visa card, and instant money transfers home. Users can hold dollars and euros, spend in 170+ countries, and earn up to 3% cash back with a paid membership. The balance is held as fully backed dollar stablecoins with regulated, audited partners.
Funding
Funding not disclosed
Founders
Product
Problem
People who earn in dollars or euros but live or work in countries with weaker financial infrastructure often face barriers like branch visits, SSN/residency requirements, and hidden fees. Existing apps frequently fail in these regions, leaving money stuck between currencies and forcing users to lose value on conversions or pay for blocked services.
Solution
Hawala offers a mobile-based financial account that provides real US and EU account details, opened in minutes without a branch or local residency. Users can get paid from clients and platforms worldwide, hold dollars and euros, spend via a virtual or physical Visa card, and cash out to local banks. The balance is held as fully backed dollar stablecoins with regulated, audited partners, ensuring funds remain secure and liquid. The platform also enables instant transfers to family, other Hawala accounts, or local banks, with clear rates and no hidden fees. A paid membership tier raises cashback to 3%, waives deposit and withdrawal fees, and increases send limits.
Target Audience
Primary customers are freelancers, remote workers, expatriates, and families whose money crosses borders—specifically those getting paid in dollars or euros from abroad and needing to spend or send money home affordably.
Features
- Real US dollar and euro account details issued without an SSN or residency requirement, opened from a phone
- Visa card (virtual immediately, physical coming soon) usable in 170+ countries, with Apple Pay and Google Pay support
- Cashback rewards of 1% standard, rising to 2% with Gold and 3% with Platinum membership, paid automatically in dollars
- Instant or fast transfers to family, other Hawala accounts, or local bank accounts with no hidden fees
- Account management tools including one-tap card freeze, daily and monthly spending limits, and ATM cash access (coming soon)
- Underlying technology uses fully backed dollar stablecoins held with regulated, audited partners, built on Visa's global security and fraud protection network