Valiu is a Venezuela-based FinTech platform that helps migrants send cash home in 1 hour and at 10x cheaper than existing methods, leveraging cryptocurrency as the medium of exchange. It is currently expensive for migrants to send money home, costing up to 40% of transaction in Venezuela and taking more than 3 days. This is a huge market opportunity as LatAm processes over $55B USD in remittances per year, and has 90% smartphone penetration.
Valiu fixes many of the current shortcomings by leveraging cryptocurrency and smartphones to both accelerate and lower the cost of money transfer significantly. Valiu allows transfers to be done through mobile and is now cash friendly working with corner shops. All users need to get started is a smartphone, a bank account and someone to send money to. Valiu is already working in Venezuela and Columbia and looking to expand to neighboring regions in LatAm.