Diego runs a three-person leather workshop in Buenos Aires. Most of his orders come from online buyers in the US and Europe. Each sale should feel like good news. Instead, Diego dreads the wait. A client’s payment can sit in transit for three to five business days, and while it travels, Argentina’s peso keeps sliding. By the time the dollars clear and convert, he’s often lost real spending power on a sale he already shipped. A new wave of Jeeves stablecoin payments tools wants to close that gap.
The Latin American fintech just raised $110 million and used part of the announcement to expand its stablecoin wallets and corporate card into ten new countries, pushing its footprint to roughly 35 nations. Jeeves shared the details with Crypto Briefing on September 29.
A Dollar Account That Doesn’t Wait on a Bank
Jeeves built its wallets to hold USDC and USDT, two stablecoins pegged to the US dollar. A business can hold that balance, spend it, or send it without routing every transaction through a traditional bank account. Its Instant Pay feature settles payments in minutes. Compare that to the two to five business days a standard international wire usually takes.
Speed like that matters most in places where holding the local currency feels like a losing bet. A wallet that locks earnings into digital dollars the moment they land protects against the exact kind of slide that used to eat into Diego’s margin.
What Jeeves Stablecoin Payments Actually Save a Small Business
Jeeves says its stablecoin rails cut foreign exchange fees by up to 80%, compared with the 3% to 8% that banks and wire services typically charge. Run the math on a modest $10,000 supplier payment:
- At a typical 5% bank fee, that payment loses $500 before it even lands.
- Cut by 80%, the same transfer could cost closer to $100.
- That leaves roughly $400 in the business’s account instead of a bank’s.
Multiply that across a year of supplier payments, payroll runs, and client invoices, and the savings stop feeling like pocket change. For a company running on thin margins, that gap can be the difference between hiring one more person and not.
Why This Reaches Further Than Argentina
Jeeves says stablecoins now carry more than half of its international payment volume, with annualized volume heading toward $6 billion. The company already serves exporters, importers, and e-commerce sellers across Mexico, Brazil, Colombia, and beyond.
“Cross-border payments are broken in LatAm,” Jeeves’ leadership said when the company first launched Instant Pay.
That line isn’t a crypto sales pitch. It describes a problem millions of small business owners already live with: money that takes too long and loses value while it travels. Jeeves isn’t alone in chasing this fix. Our coverage of Kora’s One Rail in Africa shows the same pattern on a different continent, and Deel’s dollar wallets for South African freelancers tackle a nearly identical problem for individual workers instead of whole businesses.
If you run a small business that pays or gets paid across a border, ask your bank exactly what cut it takes on that transfer. The honest answer might be the best argument yet for switching rails.