Littio leverages USDC to provide a Gateway to Secure and Stable Dollar and Euro Banking in Latin America
Latin America and emerging economies have long struggled with limited access to globally accessible, stable, and secure banking solutions. Approximately 300 million people in Latin America lack access to basic financial services in U.S. dollars, leaving them financially isolated from the global economy and unable to help safeguard their wealth from local hyper-devaluation.
This is where Littio¹ steps in. As a dollar and euro bank tailored specifically for people in Latin America and emerging economies, our goal is to revolutionize the financial landscape by leveraging blockchain technology and stablecoins such as USDC and EUROC.
Littio's ultimate vision is to create a borderless financial world that offers open opportunities for everyone, irrespective of their background. We are making significant strides towards realizing this vision. With operations in Colombia and our recent announcement of the launch in Argentina, we are connecting the world through a smart, free, and accessible financial app that enhances users' financial health and enables them to protect their wealth from currency devaluation. Our impact speaks volumes, as over 200,000 Colombians have embraced Littio in just one year, experiencing the transformative power of technology and innovation. The result? Thousands of global citizens can take control of their finances.
How does it work?
Littio's end-to-end solution leveraging USDC and EUROC provides individuals in Latin America and emerging countries with access to stable and secure banking solutions through a dollar and euro bank account that works from an app on any smartphone. This provides an alternative solution to traditional banking, which can be challenging in regions where currency devaluation and limited access to US bank accounts are common issues.
Littio's dollar banking ecosystem allows users to hold and manage their money in USDC and EUROC, stable and widely accepted digital currencies. After opening their accounts in less than two minutes, our users can top-up their global accounts through different payment methods (connecting their Littio account to their local bank account or recharging through debit cards, credit cards and blockchain transfers). Then, Littio converts the local currency to dollars or euros and uses these dollars and euros to mint USDC and EUROC, respectively.
Through our app, users can:
- Open a free dollar and euro bank account in less than 3 minutes
- Get a Mastercard debit card to spend their USDC
- Send and receive dollar payments
- Access a dollar investment account
Our platform is powered by blockchain technology, which offers unparalleled security and transparency in financial transactions. We are using USDC and EUROC in several ways to provide its users with a globally accessible and secure banking solution:
- Littio is leveraging USDC and EUROC for custody, which means we are securely storing users' holdings.
- Littio is using USDC for liquidity and minting, which involves creating or redeeming USDC as needed and converting between USDC/EUROC and USD/EURO.
- Littio is using USDC for treasury management for company funds, which involves managing corporate and working capital funds within Littio’s ecosystem and treasury product.
By using stablecoins, we eliminate the need for complicated infrastructure like bridges to access decentralized applications. This approach ensures a seamless and worry-free user experience for our customers.
Who is it for?
Littio's target users are people who want to break free from the limitations and challenges of traditional banking in their home countries and who value the benefits of a globally accessible and secure banking solution. These include:
- Individuals who want to protect their savings from currency devaluation
- Entrepreneurs and freelancers who work with clients and businesses from other countries and need to make global transactions
- Travelers who want to be able to access their money in a stable currency while abroad
- Expats who want to manage their finances across borders.
Littio is bridging the gap between limited access of financial services to stable and secure banking solutions. With our vision, innovative technology, and commitment to financial inclusion, we are poised to be a game-changer in the traditional financial world. By providing stable and secure banking solutions to millions of people who have been financially excluded for far too long, we are on a mission to make a lasting impact.
In the face of economic and political instability, Littio is providing a ray of hope for those who want to protect their wealth and enjoy a worry-free financial life. Through the power of blockchain technology and stablecoins, we can offer borderless financial solutions that were previously impossible.
As Littio continues to grow and expand its reach, it will only become a more formidable force in the ecosystem: we are set to change the way people think about banking, not just in Latin America and emerging economies, but around the world.
1 Littio is a Circle Ventures portfolio company. Circle Ventures, an affiliate of Circle Internet Financial, LLC, has invested in Littio.