Stablecoin infrastructure for Latin American neobanks is the layer a neobank rents instead of building: local accounts for its customers in reais, Mexican pesos and Colombian pesos, conversion to and from USDC, custody of the balance, payouts to local banks and identity checks on every user, delivered through one API.
The best choice for a neobank whose users hold balances in Brazil, Mexico and Colombia is a provider that issues local accounts in each customer's own name, holds the balance in custody and pays out over each country's own rail. Twelve providers are compared below. The country-by-country payout view for any fintech is in best stablecoin APIs for Latin America.
The five jobs a neobank hands to its provider
A neobank's product is the app, the ledger and the customer relationship. Five jobs sit underneath, each done by a provider or built in house:
Local accounts, so customers can be paid by local banks and payers.
Conversion between local currency and USDC stablecoin at the edges of the balance.
Custody of the balance between deposit and withdrawal.
Payouts to a bank in the customer's country, over that country's own rail.
Identity checks on every user, with a path when a document is missing.
Brazil runs on Pix (the Central Bank's instant payment system). Mexico runs on SPEI (the Banxico interbank system), paid to a CLABE (the 18-digit Mexican account number). Colombia runs on Bre-B (the instant payment system launched in 2025) and on PSE (an online bank-transfer network), which only collects. A provider that does the five jobs in one country has not done them in the other two, so the stablecoin corridor is the unit to check.
Why a neobank uses stablecoins is in what stablecoin banking is, and the API layer in what a stablecoin API is. On Lumx, the five jobs sit behind one API: create a customer with the currencies it needs, and the accounts, wallet and verification follow.
How do the twelve providers compare for a neobank?
Provider facts from Lumx's comparison pages verified on September 16 and 17, 2026, except BlindPay, read on its own site on November 1, 2026, and the Lumx row, from Lumx's verified facts and docs.lumx.io.
Provider | Accounts for end customers | Payouts in Brazil, Mexico, Colombia | Custody | What it is built for |
Lumx | Named virtual accounts in BRL, MXN, USD, EUR and GBP; a COP account for any customer, named when the customer is Colombian | Pix, SPEI, Bre-B and ACH Colombia | Custodial, a wallet per customer on each supported blockchain | Neobanks whose users hold balances |
BlindPay | Named US accounts; a SPEI CLABE per customer and a Bre-B key for customers with a Colombian document, both showing BlindPay as the recipient; no Brazil account | Pix, SPEI and ACH Colombia | Non-custodial for payouts from customer wallets; managed wallets in beta | Local payouts, published plans |
Bridge | Virtual accounts in USD, EUR, MXN, BRL, COP and GBP, BRL through a Pix code | Pix, SPEI, Bre-B and bank transfer | Custodial or external wallets, about 19 chains | Issuing a stablecoin, cards |
Due | Named accounts in EUR, GBP, USD and AED; BRL, MXN and COP accounts documented under Due's name | SPEI and Bre-B; Pix suspended (as of September 2026) | Non-custodial vault | Self-custodied balances, many regions |
UnblockPay | Named USD and EUR accounts; Brazil and Mexico on per-payment instructions | Pix and SPEI | Custodial, one wallet per customer | White-label resale |
Avenia | A static Pix code, a per-payment CLABE and Bre-B instructions | Pix, SPEI and Bre-B | Balances in a main account and subaccounts | Products built on BRLA |
Trace Finance | BRL named accounts and virtual accounts | Pix | Accounts holding BRL, USDT and USDC | A Brazil-only product |
BVNK | Named USD, EUR and GBP accounts | No Brazilian, Mexican or Colombian rail | BVNK-custodied wallets | US, UK and EU enterprises |
Conduit | Named USD, EUR and GBP accounts; no BRL, MXN or COP account | Paid by wire; no local rail documented | Custodial balances, plus a non-custodial wallet | Multi-signer wallets |
Crossmint | No named local bank account | SPEI and Bre-B live; Pix listed for Q4 2026 (as of September 2026) | Non-custodial by default for embedded wallets | Wallet-first apps |
Circle | No named local accounts | Through partner institutions on Circle Payments Network | Issuer reserves; wallets are a separate product | Minting and redeeming USDC |
Rain | End-user accounts in USD and MXN | None of the three documented | Custodial and non-custodial options | The card program |
Three of the twelve, Lumx, Bridge and Due, document standing accounts in all three local currencies, and only Lumx documents them in the customer's own name in Brazil and Mexico; Due's Brazilian leg is also unusable while its Pix is suspended. Four pay out in Brazil, Mexico and Colombia: Lumx, Bridge, BlindPay and Avenia. The rest cover part of it.
An account can exist without carrying the customer's name. BlindPay's virtual accounts documentation, read on November 1, 2026, says its CLABE and Bre-B key are unique to the customer but show a pooled BlindPay recipient name in the payer's bank app. A neobank that wants the customer's name on the deposit should check that line in every provider's documentation; what a named virtual account is explains why.
Bre-B is capped at 1,000 UVB per transaction (COP 12,110,000 in 2026) by section 3.2 of the Banco de la República's Circular Reglamentaria Externa DSP-465 (March 31, 2026) for every provider. On Lumx, a Bre-B payout above the cap is refused rather than split, and ACH Colombia has no per-payment limit, so it carries the larger invoice.
Where each alternative is the better call
BlindPay publishes its plans on its pricing page, ships agent tooling next to its API and lists a bank-transfer rail in Argentina there. It is built for a neobank that wants US dollar accounts in each customer's name, local payouts and published plans; the Lumx and BlindPay comparison sets the two side by side.
Bridge is the better call for issuing a stablecoin or running cards from the same vendor, Rain when the card is the product, Circle for minting and redeeming USDC, Crossmint for an app that starts from an embedded wallet, and Trace Finance for a neobank that will only serve Brazil.
The one-to-one pages are on the compare hub, and the method is in choosing an infrastructure provider. On Lumx, one contract covers accounts and payouts in Brazil, Mexico and Colombia, with custody and verification included.
How long does it take to go live, and which stablecoins do the wallets hold?
Two clocks matter: the integration, and the wait for an account after approval. BlindPay's documentation says its MXN and COP accounts are active as soon as created, and its US accounts take 24 hours or 3 to 5 business days.
A neobank's wallets hold USDC and USDT, and the chain decides which a customer can use. On Lumx, USDC runs on Ethereum, Polygon and Base and USDT on Ethereum, Polygon and Tron.
On Lumx, an API integration takes 2 to 3 weeks to go live, and your team uses the Lumx dashboard alongside the API. BRL, MXN, EUR, GBP and COP accounts turn active right after the customer is approved, and the USD account takes up to one business day.
Who holds the money, who checks the customers, and where the card sits
Custody comes in three models: the provider holds the keys (custodial), the customer's own wallet signs (non-custodial), or an issuer holds reserves against a token. For a neobank the practical question is who answers to the customer when a balance looks wrong, and changing it later means migrating every balance.
Compliance has two halves: verification at onboarding, KYC (know your customer, for individuals) and KYB (know your business, for companies and their owners), and what happens afterwards. An RFI (request for information, a compliance hold that asks for a document before a transaction clears) should name the document, arrive as an event and be answerable through the API.
On Lumx, custody is with Lumx: each customer gets a wallet on each supported blockchain, created with the customer and enabled once approved. KYC runs through Sumsub, and monitoring through Chainalysis. KYB targets one business day once the documents are in. An RFI can sit on the customer, the account or a transaction, and it comes as an event naming the documents at issue. An individual already verified on the neobank's own Sumsub account can be imported with a share token, which saves the document upload and liveness check. Lumx has filed its SPSAV application and operates under the transition of Res. BCB 520 of 2025, Article 88; the COP leg runs under its banking partner's licence. A neobank that operates through a licensed partner can be a Lumx customer, and the neobank licence guide covers the authorization side.
Cards sit beside the account, not inside it, under a separate contract with a card issuer. With Rain's real-time funding, described on its site, the cardholder connects a wallet and approves a spending limit, and each purchase commits only its own amount to a collateral contract while the rest stays in the wallet. The approval is revocable.
On Lumx, a card top-up is a deposit by Pix, SPEI or PSE that converts to stablecoin in the customer's wallet, and the withdrawal is an off-ramp started by the neobank's platform through the API. The off-ramp does not see open card authorizations, so capping a withdrawal at the balance minus the holds is the app's job. Rain stays the card issuer, under its own contract.
How a partner fee works on these flows
Compare providers on the cost of one real payment: the same amount and corridor, and what the recipient receives. Few publish enough to do it: BlindPay lists $1.50 per month per active US account, with deposit fees that vary by payment method (BlindPay's virtual account fees page, read on November 1, 2026), and its Mexican and Colombian accounts say to contact BlindPay for a price.
On Lumx, the neobank sets a partner fee as a rate in basis points, a flat amount in dollars or both, separately for deposits and withdrawals. Lumx collects it from the neobank's customers, sends it to the wallet the neobank chooses, and includes it in a locked quote. Lumx's own price is a monthly platform fee plus usage-based per-transaction fees, transparent FX on locked quotes, no pre-funding; no published plans. The standard agreement has a monthly minimum, waived during ramp-up. On a Pix, SPEI or Bre-B payout, no fee comes out of the amount that reaches the recipient, and only the recipient's bank can charge them.
The order I would shortlist in
I would shortlist on the account question before price, speed or chain count. A deposit that shows the customer's own name is easier to explain than one that shows the provider's. I would ask next who holds the balance, and only then compare fees, because fees can be renegotiated and a custody model cannot be changed without a migration. And I would sign the card issuer separately, so replacing one vendor does not mean replacing both.
When stablecoin infrastructure is the wrong layer for a neobank
Three cases where none of the twelve fits. A neobank with one country and one currency needs no stablecoin leg.
Pooling funds for users who are never onboarded fails any provider that screens every payer. On Lumx, nested payments are not allowed, so each user needs an account and wallet.
A launch country outside Brazil, Mexico and Colombia calls for the provider's coverage page first; the Lumx coverage page lists what runs in each country.
What this looks like on Lumx for a neobank
Lumx is stablecoin payments infrastructure for businesses that move money between Latin America and the rest of the world: one API to collect, hold, convert, and pay out in BRL, MXN, COP, USD, EUR, and GBP or in USDC and USDT, over local rails such as PIX, SPEI, PSE, Bre-B, ACH, FEDWIRE, SEPA, and Faster Payments, with SWIFT and on-behalf-of payments and collections (POBO and COBO) in USD, EUR, and GBP, plus named virtual accounts, custodial wallets, and KYB/KYC built in.
Day one runs in this order. The platform creates the customer with the currencies it needs, the customer accepts the terms and completes verification, and each account turns active with an event. A customer has to request each currency's account before it can collect or pay out in it, and the MXN, EUR and GBP accounts are named and collect from payers abroad.
Money comes in by an on-ramp for an exact amount, or by an autoconversion rule that converts every deposit to a standing Pix code or CLABE. Money goes out through a registered destination, a locked quote and an off-ramp. On a Pix payout the recipient sees the customer's name as the payer (effective November 2026, as the public docs still say Lumx), and on SPEI the customer is the sender too. A named virtual account is the account type behind both, and global payments is the product page for the payout side. Lumx is a REST API with an OpenAPI specification and a docs MCP server, and the sandbox opens on sign-up.
A neobank that needs named BRL and MXN accounts, a COP account and custody under one provider should start with Lumx. A neobank whose deciding criterion is a card program or an issued stablecoin should weigh the issuers on that criterion first. Who operates where is on the operator map, and onboarding countries on the supported countries page.
Methodology and sources
Providers were included if they publish an API and cover at least one of the five jobs in Brazil, Mexico or Colombia; Transfero and Bloquo were left out because neither covers Mexico or Colombia. Facts for ten providers come from the comparison pages on lumx.io/compare, verified on September 16 or 17, 2026.
BlindPay's virtual accounts documentation, pricing page and virtual account fees page were read on November 1, 2026. Lumx facts come from docs.lumx.io pages read on November 1, 2026 and from Lumx's verified facts register, which takes precedence where the docs lag. Rain's real-time funding was read on rain.xyz the same day.
Verified on November 1, 2026. Operational context, not legal, tax, or investment advice.
Cover photo: Al Ishrak Sunny on Unsplash.
What is the best stablecoin infrastructure for Latin American neobanks?
The best fit gives each customer a local account in Brazil, Mexico and Colombia, holds the balance in custody and pays out over each country's own rail. Of twelve providers compared between September and November 2026, three document standing accounts in all three local currencies, only Lumx in the customer's own name in Brazil and Mexico, and four pay out in all three countries. Lumx issues named accounts in reais and Mexican pesos, a COP account for any customer, and pays out over Pix, SPEI, Bre-B and ACH Colombia.
Can a neobank give each customer a named account in Brazil, Mexico and Colombia?
In Brazil and Mexico, yes, with a provider that issues named virtual accounts. In Colombia the account is named only when the customer is Colombian, and some providers show a pooled recipient name, so check what the payer sees. On Lumx, a customer created with BRL, MXN or COP in its accounts list gets the account after approval, named in Brazil and Mexico, and the COP account is available to any customer.
Who holds the money in a neobank's stablecoin balance?
Some providers hold the balance in custody and some let the customer's own wallet sign. The question is who answers to the customer when a balance looks wrong. On Lumx, custody is with Lumx, each customer has a wallet on each supported blockchain once approved, and the neobank reads balances through the API.
Can a neobank offer a card on top of the account?
Yes, as a separate contract with a card issuer such as Rain. The accounts provider handles deposit and withdrawal. On Lumx, the top-up is a Pix, SPEI or PSE deposit that converts to stablecoin in the customer's wallet, and the withdrawal is an off-ramp started through the API.
How does a partner fee work on these flows?
The neobank adds a fee on each transaction, in basis points, a flat amount or both. On Lumx, a partner fee is collected from the neobank's customers and sent to the wallet the neobank chooses, and no fee comes out of the amount that reaches the recipient on a Pix, SPEI or Bre-B payout.
