Kravata

Private

Colombian B2B stablecoin infrastructure platform providing on/off ramp APIs, compliance, custody, and liquidity modules that enable fintechs, neobanks, and corporations across Latin America to integrate digital dollar products into their existing services.

Bogotá, Colombia | Crypto Infrastructure | Est. 2022 | Website

At a Glance

Strength

In its first year of operations, Kravata facilitated $215 million in transactions with 20 clients — proof that the B2B infrastructure model works and that Colombian enterprises are ready to integrate stablecoin rails at scale.

Challenge

At $7.5M in total raised (pre-seed + seed), Kravata is working with limited capital in a market where infrastructure plays require sustained investment in compliance, banking relationships, and engineering — well-funded competitors like Bitso Business or Kushki have significant runway advantages.

Opportunity

Every fintech, neobank, and traditional financial institution in LATAM that wants to offer digital dollar savings, stablecoin remittances, or crypto payments faces the same infrastructure problem Kravata solves — the addressable market is every financial institution in the region.

Overview

Kravata was founded in Bogotá in 2022 with a simple but powerful thesis: every financial institution in Latin America will eventually need to offer digital dollar products to its customers, and almost none of them know how to build the infrastructure to do it. Kravata builds that infrastructure and sells it as an API.

The company operates through two core products: Kravata Go, a direct digital dollar savings and international payment product, and Kravata Stack, a modular B2B API suite covering custody, liquidity, compliance (KYC/AML), and payment modules that clients integrate into their existing applications.

Business Model

Kravata's primary revenue comes from transaction fees on on/off ramp flows — when a fintech client's users convert Colombian pesos to USDC or USDT (and back), Kravata earns a spread on each transaction. Additional revenue comes from API licensing fees and, increasingly, from the value-added compliance and custody modules that enterprise clients prefer to outsource.

In its first year of operations, Kravata processed $215 million in transactions across 20 enterprise clients — a figure that demonstrates real transaction flow, not just signed contracts.

Infrastructure Advantages

What separates Kravata from generic crypto API providers is local Colombian payment infrastructure. The company has built working integrations with ACH transfers and PSE, Colombia's primary online payment gateway, as well as direct banking relationships that allow instant peso settlements. This means when an enterprise client integrates Kravata, its end users can convert pesos to stablecoins through payment methods they already use — a friction reduction that dramatically improves conversion rates.

Global liquidity relationships with Circle, Binance, and Coinbase Prime ensure competitive pricing and deep liquidity on the stablecoin side of every transaction.

Traction and Partnerships

The App MiClaro integration — building digital dollar savings and cross-border payment functionality into Claro's Colombia app — is the company's most visible enterprise win. Claro has millions of Colombian users, giving Kravata enterprise-level distribution without the cost of building a consumer brand from scratch.

The $3.6M seed round closed in March 2024, led by a group including Framework Ventures, Magma Partners, Volt Capital, Circle, and Simma Capital. Total funding now stands at $7.5 million. With planned expansion to the United States, Mexico, Panama, Brazil, and Chile, Kravata is working to replicate its Colombian banking integration model in additional markets before international competitors with greater capital establish local footholds.

Editorial Assessment

The Good, The Bad & Opportunities

The Good

In its first year of operations, Kravata facilitated $215 million in transactions with 20 clients — proof that the B2B infrastructure model works and that Colombian enterprises are ready to integrate stablecoin rails at scale.
The API-first infrastructure model — selling picks and shovels rather than competing for retail users — avoids the CAC and regulatory overhead of consumer-facing crypto apps while capturing the highest-value B2B relationships in the ecosystem.
Local banking relationships enabling ACH and PSE payment gateway acceptance give Kravata a competitive advantage over international and regional competitors who cannot process local Colombian peso flows — a genuine moat in its home market.
The App MiClaro integration (Claro's massive user base in Colombia) demonstrates that Kravata can win enterprise distribution partnerships that smaller B2B fintechs would struggle to reach.
Backing from Circle Ventures validates the USDC stablecoin integration thesis and brings a strategic partner with deep stablecoin infrastructure expertise — not just capital.

The Challenge

At $7.5M in total raised (pre-seed + seed), Kravata is working with limited capital in a market where infrastructure plays require sustained investment in compliance, banking relationships, and engineering — well-funded competitors like Bitso Business or Kushki have significant runway advantages.
Colombia's crypto regulatory environment is still developing — while La Arenera sandbox was constructive, the absence of a formal stablecoin regulatory framework creates compliance uncertainty that can slow enterprise client procurement cycles.
The on/off ramp API market is increasingly competitive — international players including Bridge (acquired by Stripe), Zero Hash, and Alchemy Pay all target the same B2B integration market and bring greater global distribution.
Revenue is concentrated in Colombia at an early stage — expanding as planned requires regulatory licensing, banking relationships, and sales infrastructure in each new market, all before generating meaningful local revenue.
Dependence on global liquidity providers (Binance, Coinbase Prime, Circle) means Kravata's core product is only as reliable as third-party infrastructure it does not control — counterparty concentration risk at the infrastructure level.

Opportunities

Every fintech, neobank, and traditional financial institution in LATAM that wants to offer digital dollar savings, stablecoin remittances, or crypto payments faces the same infrastructure problem Kravata solves — the addressable market is every financial institution in the region.
The US-Colombia remittance corridor is large and expensive — Kravata's stablecoin rails could undercut traditional remittance providers on cost while enabling instant settlement, a product Claro and other large distribution partners could take to scale.
As LATAM central banks develop CBDC frameworks, companies with proven stablecoin on/off ramp infrastructure will be the natural partners for regulated digital currency pilots — Kravata's compliance-first positioning is the right foundation for this.
Kravata Stack's white-label API model could enable regional banks and credit unions to offer digital dollar products under their own brand — a much larger distribution path than direct-to-consumer and one that incumbents are already requesting.

Let's work together

Building something in LATAM fintech?

I advise fintechs, financial institutions, and investors navigating Latin America's financial ecosystem. If you're building or investing here, let's talk.

Get in touch