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Luisa Crawford Aug 06, 2024 20:17 Fernanda Orduña Rangel, co-founder of Decaf, shares insights on how the wallet app is transforming financial access in Latin America and Africa. Fernanda Orduña Rangel, co-founder of Decaf, recently discussed the impact of her wallet app on financial freedom in Latin America and Africa. According to Stellar (XLM), Decaf enables users to hold value in US dollars using USDC and invest their money, aiming to protect them from inflation and devaluation. Addressing Financial Exclusion Orduña Rangel highlighted her personal experiences with financial exclusion in her hometown, driving her to find solutions for similar issues across Latin America. She noted, “The place where I am from, for example, I have seen and I know what it is like to have a financial system that doesn’t work really well. People are being excluded. They don’t have many options. They don’t have financial freedom.” She emphasized the widespread need for better financial solutions in countries like Argentina, Venezuela, and Colombia, where traditional banking systems are often expensive and slow. “I realized that the technology was ready to start building solutions that substitute the traditional banking system,” she added. Focusing on Adoption Initially, Decaf aimed to facilitate everyday purchases with cryptocurrency. However, the team soon recognized the need for broader adoption first. Orduña Rangel explained, “We focused on this app where people can invest, hold their value, protect themselves from inflation and devaluation, which is a huge use of crypto in general and many people don’t even think about it.” Expansion into Africa While Decaf initially targeted Latin America, it has surprisingly gained more users in Africa. Orduña Rangel shared, “We’re focusing in Latin America and Africa now. Initially we were focused only on Latin America, but now we actually have more users in Africa, which was a…

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Filed under: News - @ August 8, 2024 10:20 am