[Latin America-focused stablecoin financial app ARQ raises $70 million in funding, with participation from Sequoia Capital and Founders Fund] According to Bloomberg, Latin America-focused stablecoin financial app ARQ has raised $70 million in funding, with participation from Sequoia Capital and Founders Fund. This round of funding will be used for rebranding, hiring new employees, and expanding services beyond USD-denominated transfers, including wealth management, high-yield local currency accounts, and credit services. Previously known as DolarApp, ARQ offers multi-currency accounts, digital wallets, foreign exchange services, and debit cards, helping users store and transfer funds across borders. It has over 2 million customers in Latin America, with an annualized transaction volume exceeding $10 billion. ARQ stated that it has built the infrastructure to connect traditional banking networks with stablecoin-based payment systems, enabling users to hold foreign currencies and conduct transactions.