Kontigo

What do they actually do

Kontigo runs a mobile-first USDC wallet and payments app focused on Latinos in the U.S. and Latin America. Users can hold USDC, send remittances, cash in/out through local rails, pay merchants via QR/payment buttons, and use savings or “piggy‑bank” products with advertised yield. The app, developer APIs (wallet checkout, payouts, merchant tools), and a card are live; the company publicly claims more than 1M downloads (a self‑reported figure) (product, docs, about/downloads).

A typical flow is: open a USDC wallet, top up via local rails (cards, bank transfer), ACH/wire or on‑chain USDC/USDT (subject to KYC level); funds are held in USDC and can be sent to other users or external addresses for remittances, used to pay merchants via QR or payment buttons, or withdrawn via available payout rails. Users can optionally place funds into in‑app savings/piggy products that the company markets as earning yield (docs, partner write‑up).

Kontigo markets primarily to Latinos and publishes a public developer API. They have integrated third‑party AML/transaction monitoring (Flagright) as part of live operations (docs, Flagright). The company has also faced recent operational strain: in late 2025 it suspended some U.S. bank services for Venezuelan customers after a provider halted services, and in Jan 2026 it disclosed unauthorized access affecting some users and said it would reimburse affected amounts (Yahoo Finance, Bloomberg).

Who are their target customer(s)

• Latino in the U.S. who regularly sends money home: Needs faster, cheaper remittances and a way to hold dollar value relatives can access locally; interruptions from bank partners or corridor blocks are a real concern.
• Unbanked or underbanked person in Latin America: Wants a simple way to hold and spend U.S. dollar value without a U.S. bank account, plus reliable cash‑in/cash‑out locally.
• Cross‑border gig worker or freelancer paid in USD/crypto: Needs to receive payments quickly, convert to local currency with low friction, and withdraw or spend locally without delays or high fees.
• Small merchant serving Latino customers (brick‑and‑mortar or online): Wants lower‑cost, faster acceptance (QR/embedded checkout) with simple setup and predictable settlement, avoiding high card fees and complex integrations.
• App developer/fintech targeting Latino users: Needs an easy, compliant way to add cross‑border wallets, payouts, and checkout without building rails and AML from scratch; wants clear docs and supportable integration paths.

How would they acquire their first 10, 50, and 100 customers

• First 10: Recruit hand‑picked early users from founders’ networks and local community groups; do concierge onboarding (in‑person/video) to walk through top‑up, card use, and a live remittance while fixing KYC, payout, or QR issues in real time.
• First 50: Run city‑level pilots via 2–3 trusted community partners and a Spanish referral program; onboard nearby merchants for QR acceptance and instrument flows with the compliance stack so corridor or bank issues are caught early.
• First 100: Convert proven pilots into platform deals with a gig marketplace and several SMB merchants; pair with localized paid social/micro‑influencers and negotiate contingency rails with alternate partners to mitigate corridor freezes.

What is the rough total addressable market

Top-down context:

Remittances into Latin America & the Caribbean are roughly $165B annually, and about 43% is already handled digitally—defining a large, active pool of flows relevant to a digital USDC wallet (RemitSCOPE/IDB, Mastercard). Stablecoin liquidity exists at scale, with total issuance in the low hundreds of billions and USDC in the tens of billions (S&P Global).

Bottom-up calculation:

Immediate TAM is the digital portion of LAC remittances: ~$165B × 43% ≈ ~$71B/year of flows addressable by digital remittance/wallet providers like Kontigo (RemitSCOPE/IDB, Mastercard). Scenario examples: 1% share ≈ $710M annual volume; 5% ≈ $3.6B.

Assumptions:

• Digital remittance share is a practical proxy for addressable flows a USDC wallet can compete for today.
• Stablecoin settlement will continue to power a growing subset of digital remittances, though corridor share varies.
• Kontigo can operate reliably in major corridors; partner/regulatory issues can shrink effective coverage.

Who are some of their notable competitors

• AirTM: USDC‑based digital dollar wallet with P2P rails, local cash‑in/out, virtual card, and cross‑border transfers—very close to Kontigo’s core value prop for underbanked users (overview · help).
• Bitso: Large LATAM crypto exchange/wallet offering stablecoins, cross‑border transfers, merchant tools, cards, and business APIs; competes on remittances and on/off‑ramps (transfers · stablecoin blog).
• Wise: Fiat‑rail multi‑currency account with transparent FX, cards, and platform tools; overlaps on USD↔local transfers and developer/API use cases in LATAM (newsroom MX · product).
• Remitly: App‑first U.S. remittance service with fast delivery to bank accounts, mobile wallets, and cash pickup across LATAM; competes for the same U.S. Latino senders via fiat rails (site).
• Mercado Pago: Dominant LATAM wallet and merchant payments platform (QR, POS, checkout); strong incumbent for local rails and merchant acceptance Kontigo must interoperate with or displace (QR docs · overview).