Company Name: Yopaki
Founders: Francisco Chavarria (CEO) and Carlos Chida (CTO)
Date Founded: March 2023
Location of Headquarters: Austin, TX
Number of Employees: Four full-time; one part-time
Website: https://www.yopaki.com/
Public or Private? Private
In 2021, Francisco Chavarria seen a turning point at Bitcoin 2021 when Jack Mallers, CEO of Strike, provided a keynote speech detailing El Salvador’s groundbreaking choice to embrace bitcoin as legal tender. This impactful discussion sparked a extensive motivation within Chavarria.
Chavarria showed, specifying, “It was unlike anything I’d experienced in my professional career. I knew I had to do something in the Bitcoin space after that. It was the seed.” Two years later on, he suspended his profession as a Software as a Service (SaaS) expert to conceive Yopaki— a neobank and financial investment application with a concentrate on bitcoin, particularly developed for individuals of Mexico. Furthermore, the platform consists of a non-custodial Lightning wallet available to users worldwide.
Together with co-founder Carlos Chida, Chavarria has actually been vigilantly working to understand Yopaki, consisting of taking part in Wolf’s Bitcoin Accelerator program to make sure the item stays ingenious and competitive.
The Significance of the Name
Chavarria kept in mind that, when equated into English, the name most carefully symbolizes “the pursuit of happiness.” This shows Chavarria’s vision for Yopaki to go beyond simple company goals, intending rather to produce a considerable effect on its users’ lives.
To achieve this objective, Chavarria and his group aim to change every Mexican into a Bitcoiner.
2025 Dream Predictions for Bitcoin in Mexico 🇲🇽😶🌫️
1. Bitcoin adoption in Mexico rises.
2. Mexican Bitcoin start-ups draw in international financiers. With El Salvador’s impact, Mexico ends up being the Latin American leader for Bitcoin development.
3. Peso-Bitcoin combination deepens.…
— Francisco Chavarria (@FranciscoBTC) December 31, 2024
Bitcoin Within the Mexican Framework
When going over Bitcoin in Latin America and other establishing areas, it is often provided as a option to “bank the unbanked.” However, Chavarria competes that Mexico’s banking facilities is rather robust. “The framework has been established for people to access banking,” he specified. “Although it may not mirror the banking system present in the U.S., for instance, in Mexico, ubiquitous stores like OXXO allow individuals to walk in with an ID and obtain a Visa card and app within 20 minutes.”
While this system is not a standard bank, it does offer fundamental gain access to to payment systems. However, Chavarria slammed the high charges related to these Visa cards, identifying them as “predatory.”
In reaction, Yopaki uses its users gain access to to 3 unique financial accounts: a Mexican peso account, a U.S. dollar account, and a non-custodial Bitcoin Lightning wallet. These alternatives present users with lower deal charges than standard Visa cards. Moreover, in 2025, Yopaki will broaden its offerings to consist of standard financial investment chances such as stocks and ETFs.
By incorporating a Bitcoin wallet together with standard currency accounts, Chavarria objectives to improve the authenticity of Bitcoin for its users. He acknowledges, nevertheless, that there is work to be carried out in assisting Mexicans accustom to utilizing Bitcoin, which becomes part of Yopaki’s dedication to producing an interesting and satisfying experience.
Introducing Bitcoin Through Lotería
Lotería, a cherished video game in Mexican culture, acts as a tool for engaging users with Bitcoin principles. This video game, similar to Bingo however using images, has actually been included into the Yopaki app including styles associated to the Lightning Network and significant figures like Max Keiser.
As users engage with the Lotería game within the application, they make sats, which they can later on discover to transfer from Yopaki’s custody to their own wallets once they collect 1,000 sats or more.
Yopaki has also partnered with Breez to provide its users a non-custodial Lightning wallet that streamlines the user experience by getting rid of the intricacies related to Lightning channel management.
Collaboration with Breez
By providing an available item that helps with instant deals, Yopaki objectives to present the delights of Bitcoin to a wider audience. Chavarria kept in mind that the ease of usage is so noticable that even his mother-in-law is welcoming the item.
Chavarria revealed interest about bringing such a option to the Mexican market, highlighting the previous difficulties users confronted with custodial services. “It’s essential for us to reassure users that we do not hold their funds,” he specified.
Emphasizing Bitcoin Education
The Yopaki group locations a strong focus on self-sovereignty while also acknowledging the significance of informing users about Bitcoin. Chavarria specified, “We provide curated content, including brief lessons on broader topics like ‘What is money?’—not just confined to Bitcoin, but encompassing the concept of money itself.”
These lessons are developed to be succinct, taking one to 2 minutes to total, promoting interest that has actually typically been ignored by the tradition monetary systems. He thinks that such academic efforts separate Yopaki from its competitors in the area.
“Bitso, as the leading cryptocurrency exchange in Mexico and Latin America, deserves respect for its achievements; however, they have veered into areas like tokens and NFTs that have steered user interests towards a gambling mentality,” Chavarria kept in mind. “We believe they have underestimated their users’ curiosity.”
Insight from Wolf
Chavarria radiated a sense of calm and clearness concerning Yopaki’s vision throughout his discussion, recommending a clear concept of the job. Nevertheless, he exposed that his experience at Wolf’s Bitcoin start-up incubator contributed in refining that vision.
He explained the Wolf program as “one of the most significant and valuable experiences” for his advancement, highlighting the useful and extensive nature of the feedback and technique sessions they took part in. “We entered thinking we had a well-formed concept for Yopaki, but the insights from the program compelled us to innovate features that set our application apart from others,” he mentioned.
Chavarria valued the chance to engage with knowledgeable specialists like Kelly Brewster, Wolf’s CEO, and Ross Stevens, the creator, who positioned difficult concerns that assisted him articulate the intricacies of Yopaki’s goals.
Looking Ahead
As formerly pointed out, Yopaki is set to launch financial investment alternatives in standard possessions for Mexican users in the approaching year, in addition to a Bitcoin exchange. Additionally, the platform strategies to concern debit cards that will permit users to make purchases in pesos, dollars, or bitcoin, with the possibility of providing benefits in sats for standard property or Bitcoin deals.
Chavarria stays positive about the future instructions of Yopaki, revealing appreciation for the journey so far. “I’m just grateful that we’re doing this,” he concluded, including, “It’s been incredibly rewarding to build during challenging times, and now we anticipate the arrival of more favorable conditions.”
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