Stablecoin financial application ARQ completes $70 million funding, with participation from Sequoia Capital and Founders Fund

2026-03-04 01:36:10

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On March 4th, according to Bloomberg, Latin American financial app ARQ, which focuses on stablecoins, completed a $70 million funding round with participation from Sequoia Capital and Founders Fund. The funds will be used for rebranding, hiring new employees, and expanding services beyond dollar-denominated transfers, including wealth management, high-yield local currency accounts, and lending. Originally named DolarApp, ARQ offers multi-currency accounts, digital wallets, foreign exchange, and debit cards to help users store and transfer funds across borders. It has over 2 million customers in Latin America, with annual transaction volume exceeding $10 billion. ARQ stated that it has built infrastructure connecting traditional banking networks with stablecoin-based payment systems, enabling users to hold foreign currencies and conduct transactions.

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