At Reserve, we’re changing the Venezuelan financial system to allow access to US dollars. In the long term, Reserve aims to eliminate high inflation all around the world. Eventually, we’ll launch a currency that’s independent from the US dollar. We’re ultimately a cryptocurrency project, but right now what we do is Cash App meets BitTorent.
Dollar access is crucial for our users in Venezuela and Argentina as well as their migrant relatives and friends in Colombia and Panamá to cope with ongoing high levels of inflation. Our team is distributed across 3 continents and 7 different countries. We’re funded by Sam Altman and Peter Thiel personally. Before Reserve, our team members led two of the most prominent attempts to solve the problem of hyperinflation in Venezuela.
We’ve created a series of channels that allow any normal Venezuelan to convert their Bolivars (the local failed currency) into US dollars and back again in our app in a couple of minutes. This means that Venezuelans can use our app to easily save and spend in US dollars, without having to worry about their money devaluing overnight.
Due to capital controls in Venezuela, this kind of financial service is not commonly available, and our early users are extremely appreciative of what we’ve built. New users are often skeptical that we can deliver what we promise… until they try it. Once they have seen how our app works, they often evangelize their friends..
This is the percentage of users actively using the service after N weeks from their first time trying it:
Our short-term goal is to support the entire Venezuelan economy transacting digitally in US dollars, escaping the issues posed by the hyperinflation the country has suffered in the last decade. We are aiming to serve 10M+ Venezuelans, and looking to Argentina next. A large part of the Venezuelan population has migrated throughout Latin America, including to Mexico. We aim to start off in Mexico by supporting that population, and then expanding from there.
One of our most important short-term goals is to reach new markets in the Latin America region, and then consolidate our presence as a great option for people who wish to protect the value of their money. We want to add people to our team who can be considered true insiders in the Mexican remittances’ business sector and the financial community in general, in order to introduce and position Reserve as a potential partner with the capability to provide efficient remittances and fast cross-border transactions in Mexico.
Reserve has an open remote position for a CEO-founder type who is eager to take on the challenge of leading the introduction of a world-class fintech startup in one the most important markets in Latin America.
The Country Director (Mexico) must be an experienced professional with an ambitious entrepreneurial spirit, excellent business relations, comprehensive knowledge of the reality of business in Mexico, and the ability to navigate the circumstances of that reality.
We are looking for the leader who will position Reserve in Mexico as a dominant player in markets including remittances, rapid cross-border transactions, and crypto in general.
The person we are looking for
Today, Reserve's users are normal people and business owners in Venezuela. We help them save in dollars and transact with low friction. They can cash-in and cash-out with PayPal, Zelle, and Venezuelan bank transfers. For example, to cash-in, users initiate a transaction in our app, then are ...