- Kira has launched virtual U.S. dollar bank accounts for freelancers, exporters, and small businesses throughout Latin America.
- The accounts offer high-yield savings options, with partners able to earn up to 12% APY through Kira’s investment pools.
- The white-label solution uses stablecoins and is already being used by AU, a major mining exporter platform in South America.
Fintech infrastructure company Kira launched its new product on Sept. 22. The firm is now offering High-Yield Virtual USD Bank Accounts targeted at businesses and freelancers across Latin America. The service aims to provide a simpler way for users in the region to access U.S. dollar banking, earn interest, and conduct cross-border transactions.
The launch addresses a large challenge in many Latin American economies. Local currency devaluation and inflation often drive individuals and businesses to seek the stability of the U.S. dollar. However, traditional access to U.S. banking is often complicated by regulatory hurdles, high fees, and lengthy processes for non-residents.
According to the official announcement, one of the first major clients is AU, a large mining exporter platform based in South America. Mauricio Mayorga, the CEO of AU, explained that the platform’s customers are small business exporters in Colombia who depend on Kira’s infrastructure for daily payments. He added that the virtual USD accounts help connect miners and their families with more inclusive financial tools, supporting the economic development of local communities.
By offering virtual accounts, Kira is tapping into a growing trend of fintech solutions that use blockchain technology, such as products powered by stablecoins, to bypass legacy financial systems. These platforms aim to provide faster and more accessible cross-border payment rails for the global workforce, including freelancers and small and medium-sized enterprises (SMEs) who are increasingly participating in international trade.
A Closer Look at Kira’s Financial Infrastructure
Kira designed the service as a white-label solution, allowing other companies and platforms to integrate it into their own offerings. This model enables partners to accept payments from third parties without requiring them to go through additional Know Your Customer (KYC) processes.
A key feature is the high-yield component, which allows partners to earn up to 12% APY. This is managed through investment pools that can be configured with U.S. Treasury bonds or BlackRock ETFs. The company noted that assets are held in custody with the U.S. government, BlackRock, and other trusted securities partners.
The platform is built to serve industries often considered high-risk, such as financial services, crypto, gambling, and precious metals. Onboarding can be done through an API or with plug-and-play tools, and accounts are issued directly in the name of the individual or business.
Edrizio De La Cruz, CEO and Co-Founder of Kira, stated that his personal experience as an immigrant highlighted the difficulties of moving money internationally. He described the new product as a combination of an investment tool and a cross-border wallet, built to provide next-generation financial services. The company leverages AI-driven automation for its embedded financial products. Kira reported achieving $3 million in revenue during its first year of operation and is backed by investors with experience scaling global financial technology companies.
