Argentine fintech company Pomelo is making a significant move with this funding round—$55 million in Series C, led by Kaszek and Insight Partners, with participation from Index Ventures and other institutions. The funds will mainly be allocated to two areas: first, strengthening credit card processing capabilities in Latin America, especially in Mexico and Brazil; second, preparing to launch a global credit card product based on stablecoins.

Interestingly, they have chosen Circle's USDC as the backing. What does this mean? In simple terms, it means using stablecoins for cross-border payments and settlements. Latin America's market has a high demand for US dollars, and local currency depreciation pressures are significant. Using stablecoins to bypass these issues is more friendly to both consumers and merchants.

In terms of funding scale, this is no longer just a story about traditional fintech but a testing ground for real Web3 scenarios. Stablecoins, which started as trading tools in the crypto space, are gradually penetrating daily payments. Pomelo is a relatively pragmatic participant in this wave. The Latin American market is full of opportunities—low financial inclusion, high exchange rate volatility, and high cross-border costs—making it an ideal place for stablecoins to shine.