According to Bloomberg, Latin American financial app ARQ, which focuses on stablecoins, has completed a $70 million funding round with participation from Sequoia Capital and Founders Fund. This funding will be used for brand rebranding, hiring staff, and expanding the business from dollar transfers to wealth management, high-yield local currency accounts, and lending services. ARQ, formerly known as DolarApp, offers multi-currency accounts, digital wallets, foreign exchange, and debit cards to help users store and transfer funds across borders. The platform has over 2 million users in Latin America, with an annualized transaction volume exceeding $10 billion.