VEX Wallet

None currently - no clear network effects, proprietary tech, or brand. Potential moat: local regulatory licenses and banking partnerships.

• Latam residents receiving USDT remittances or earning crypto online who need local currency (e.g., freelancers, remote workers, crypto traders). Pain point: high fees and slow traditional remittance/crypto off-ramps.
• Small Latam businesses accepting crypto payments needing liquidity.

• No clear compliance/regulatory messaging
• Lack of transparency on fees beyond $1
• No multi-currency or crypto support
• Weak customer support (only Crisp chat)

• Focus on one country first (e.g., Colombia) for regulatory depth
• Integrate with local payment methods (PIX, SPEI)
• Offer lower fees than incumbents (2-3% vs. 5-10%)
• Build transparent fee structure

Medium - Crypto/fintech in Latam has network effects if solving real pain, but regulatory hurdles limit virality.

• Regulatory shutdown in key Latam markets
• Liquidity risk if volume spikes
• Security breaches (common in crypto wallets)
• Dependence on Tether (USDT) stability
• Intense competition from funded exchanges