menuIcon
$ 93,237.7
BTC
$ 93,237.7
0.58 %
$ 1,753.59
ETH
$ 1,753.59
-0.85 %
$ 0.7109
ADA
$ 0.7109
4.43 %
$ 600.20
BNB
$ 600.20
-0.66 %
$ 151.33
SOL
$ 151.33
2.39 %
Gungun Bhatia
Nov 19, 2022
by Gungun Bhatia

Zulu From Colombia Raises $5 Million in Seed Round

Zulu

Table of contents

  1. Zulu Focuses On Using Stablecoins
  2. Future Plans
Zulu, a cryptocurrency wallet software located in Bogota, Colombia, has received $5 million in a seed round to grow its customer base in Latin America. Cadenza Ventures, a startup venture capital firm, led the investment. A number of businesses and individual investors, such as Nexo Ventures, a fund that focuses on the web3, also actively participated.

Zulu Focuses On Using Stablecoins

In light of currency depreciation, Zulu focuses on utilizing stablecoins to make it simpler for those living in Latin America to save funds and send cross-border transactions to relatives and friends who are still there. The USD Coin app accepts the stablecoin that is tied to the dollar.

According to Zulu CEO and co-founder Esteban Villegas, Zulu is a 100% decentralized wallet that runs on the Polygon Blockchain and lets users buy, hold, and sell USDC. In the previous four months, the cryptocurrency wallet software handled more than $1.5 million. In March, the platform became live.

Future Plans

Colombia, Venezuela, Peru, and Mexico are countries where the cryptocurrency wallet software has users. Next year, the business plans to launch its application in the US and other nations.

Villegas added that the wallet business addresses a significant and crucial vacuum by offering simple, safe, and affordable choices to the millions of Latin Americans who do not have existing banking links.

Follow us on: News
stablecoins Web3 Zulu cryptocurrency wallet software colombia currency to usd colombia currency to inr colombia currency to naira capital of colombia bogota colombia
Zulu From Colombia Raises $5 Million in Seed Round
Gungun Bhatia
Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

Top Picks