Volabit
“Can a Bitcoin-native mobile wallet serve as financial infrastructure for Mexico's unbanked and cross-border remittance market?”
Founded2014
HQGuadalajara, Jalisco, Mexico
FoundersTomas Alvarez
Total raised$250K
Latest roundunknown
IndustryFintech / Crypto
The story
Founded in 2014 in Guadalajara as one of Mexico's earliest Bitcoin exchanges, Volabit targeted the underbanked population and cross-border remittance corridor between Mexico and the US. Accelerated by Boost VC, the company expanded from pure Bitcoin buy/sell into a mobile wallet with cash payments via OXXO and SPEI integration. The platform later added USDC and additional crypto assets (LTC, XRP). A blog post titled 'Toda historia llega a su fin' signals the company has ceased or is winding down operations.
Product timeline
2014
Founded as Servicios de Criptocarteras Digitales COINMX S. de RL de CV; launched as Mexico's easiest Bitcoin buy/sell platform.· pivot
2014
Added cross-border transfer capability using Bitcoin for Mexico-to-USA remittances.· banking
2015
Accelerated by Boost VC; expanded mobile wallet with cash-based online payment features.· banking
2022
Added USDC support, allowing automatic USDC purchase on SPEI peso transfers; expanded to multi-asset exchange (BTC, LTC, XRP, USDC).· banking
2023
Blog post titled 'Toda historia llega a su fin' (Every story comes to an end) indicating cessation of operations.· pivot
The stack
0 layers disclosed in Volabit’s embedded-finance stack
Accounting gap: none