Mexico City, Mexico – Uulala announced today it will initially launch its global financial platform in Mexico; a fintech friendly country with a regulatory framework for financial services that supports open banking. As a minority-owned company and a mission-driven organization focused on empowering the unbanked and underbanked globally, Mexico represents the perfect country to launch because 70% of their population is either unbanked or underbanked.
According to Oscar Garcia, Founder & CEO of Uulala, “We believe our technology is a shining example of a mission-based company that will help the citizens of Mexico build their credit and help local businesses generate incremental revenue. We’ve solved a few critical issues plaguing the cash-based consumer. First, through our peer-to-peer loading locations, a user can load cash into their digital wallet and secondly, once the funds are loaded, they can be leveraged to build credit. With Uulala’s banking core technology, blockchain, mobile app, and partnerships, we’re set to facilitate and accelerate financial inclusion of the many people of Mexico who don’t have bank accounts.”