Most of the industry's attention is fixed on the stablecoin rails of developed markets — US regulation, European frameworks, enterprise pilots. We think that's leaving something important underpriced.

The financial infrastructure across Latin America has gone largely unchanged for decades, still running on domestic ACH networks that close at night and settle in days. Those systems were built for a pre-digital economy. They were not built for what commerce is becoming.

Enter Minteo.

Latin America is home to over 660 million people and a regional economy approaching $5 trillion, yet the financial infrastructure underlying this scale is fragmented, costly, and largely closed outside business hours. Most countries rely on ACH-based domestic payment networks that cannot support real-time commerce or cross-border settlement at a meaningful level of efficiency.

The region processes over $150 billion in annual remittances with fees around 6%, among the highest globally. More than 15 distinct national currencies create persistent friction for regional trade, raising FX costs and settlement delays at every transaction boundary.

Confidence in financial institutions remains structurally low. Banking systems are highly concentrated, with a small number of institutions controlling access to payment networks and foreign-exchange liquidity, limiting competition and restricting access to modern financial services.

USD-based stablecoins, while useful for savings and trading, fail to address this problem at its core because most economic activity in the region occurs in local currency. The infrastructure gap is not about the existence of stablecoins. It is about their inability to connect with the systems where money actually moves.

Minteo is addressing this gap by building financial infrastructure that connects blockchain-based settlement with local banking and payment systems.

The platform enables the issuance of fully fiat-backed local-currency stablecoins and provides the integrations required for these assets to function within existing financial networks. Rather than focusing solely on token issuance, Minteo is building the underlying rails that allow funds to move seamlessly between on-chain and off-chain environments.

This includes banking integrations, foreign exchange connectivity, and payment infrastructure that together enable stablecoins to be used for real-world transactions. By combining these components, Minteo enables local-currency stablecoins to function as a medium of exchange rather than solely as a store of value.

The platform is designed as backend infrastructure for fintech platforms, payment providers, exchanges, and enterprise clients, enabling them to access reliable local-currency liquidity without altering their existing workflows.

Minteo’s long-term objective is to establish a multi-currency settlement network across Latin America.

The company operates within a jurisdiction-specific framework that allows it to comply with local regulatory requirements while enabling cross-border interoperability. This structure allows Minteo to integrate with domestic banking systems in each market while maintaining a consistent core infrastructure.

By combining regulated issuance, banking integrations, and foreign exchange connectivity, the platform lays the foundation for efficiently moving value across different economies in the region.

Stablecoin adoption has historically been concentrated in trading and savings. The next phase of adoption is defined not by issuance volume but by the depth and reliability of the infrastructure connecting stablecoins to real economic activity. Minteo is purpose-built for this transition.

The platform's early traction in Colombia — where it has onboarded payment providers, exchanges, and enterprise clients handling over $200 million in monthly volume — validates that demand for local-currency settlement infrastructure is real and immediate. Expansion into Mexico, Brazil, and ongoing discussions in Panama, Guatemala, Costa Rica, and Honduras signals that the model is repeatable across the region's diverse regulatory environments.

The business model reflects this fit directly. Revenue is generated through transaction fees on pay-in and pay-out flows, FX spreads on local currency conversions, and yield on stablecoin balances held on-platform — three streams that scale naturally with volume, not with speculation.

At Varys Capital, we believe stablecoins are entering a new phase of adoption, where infrastructure will play a defining role.

The initial wave of growth was driven by trading and on-chain liquidity. The next phase will be driven by real-world applications, including payments, cross-border settlement, and enterprise financial operations.

In regions such as Latin America, where financial infrastructure is fragmented and inefficient, the need for alternative settlement systems is particularly pronounced. However, for stablecoins to be widely adopted, they must operate within the constraints of local financial systems rather than outside of them.

Minteo addresses this challenge by building infrastructure that connects blockchain-based settlement with existing banking networks, foreign exchange systems, and payment rails. This approach enables businesses and financial institutions to adopt stablecoins without disrupting their operational or regulatory frameworks.

Varys Capital invested in Minteo's Seed round because we believe that local-currency stablecoins will play a critical role in expanding the use of blockchain-based financial systems in emerging markets. Platforms that provide the infrastructure to support this transition are well-positioned to capture significant value as adoption increases.

Minteo is building this infrastructure layer, and we are pleased to support the team as they scale their platform across Latin America.

About Varys Capital

Varys Capital is a global, multi-strategy digital asset fund that invests in and supports early-stage companies building blockchain-enabled businesses. We are a highly differentiated capital partner with a deep understanding of the digital asset ecosystem and a proven track record of success as investors and operators. We provide our portfolio companies with access to capital, expertise, and a network of relationships to help them scale and succeed. Varys Capital was established in 2018 and is headquartered in Abu Dhabi, UAE, and Bangkok, Thailand.

Twitter | Linkedin For more information, visit: https://varys.capital/