Lumx vs Bloquo

Which should you choose, Lumx or Bloquo?

Choose Lumx if you need anything beyond Brazil today. A platform paying Mexican or Colombian suppliers needs SPEI, PSE and Bre-B, none of which appear in Bloquo's spec. A eurozone or UK collection flow needs SEPA and Faster Payments in production; Bloquo lists SEPA as a bank-account type with no example and Faster Payments inside a coming-soon block. A marketplace whose sellers need a BRL account with agência and conta, a CLABE or a USD account in their name gets it from Lumx now; Bloquo documents the same accounts as coming soon. A treasury holding USDC on Polygon, Base or Tron has a custodied wallet on Lumx; Bloquo's examples show USDT on Ethereum only.

Choose Bloquo if your business is a virtual asset business. Its VASP API is built for exchanges and OTC desks: PIX deposits by QR code, institutional FX quotes with per-pair spreads, sub-account KYC with lifecycle states, account groups and bulk CSV transfers. Its VASP-as-a-Service goes further than Lumx does: a company launches a virtual asset offering under its own brand with Bloquo's licences, ledger and compliance behind it. Lumx sells infrastructure to embed payments, not a white-label VASP.

Regulation does not decide this one. Both companies operate in Brazil under Article 88 of Central Bank Resolution 520/2025 while their VASP authorizations are processed, and both have a FinCEN-registered MSB in the US. Compare the rails and account types you need against what each spec documents as live.

What is Bloquo?

Bloquo is a stablecoin infrastructure company launched in early 2025 and operated by BGX Serviços Digitais Ltda. in Brazil and Bloquo Inc., a Montana corporation registered with FinCEN as a money services business. Its legal page places the Brazilian entity under Article 88 of Central Bank Resolution 520/2025, the same transitional regime Lumx operates under. Bloquo does not publish its funding, founders or headquarters. Its site describes three products: Bloquo VASP, the full-stack API this page compares; Bloquo VaaS, a white-label VASP-as-a-Service for companies that want to run a virtual asset business without building the stack; and Bloquo Finance, trade-finance yield vaults on a separate site. Per docs.bloquo.io, the API covers company and sub-account onboarding with KYC and KYB (UBO above 25 percent, PEP flags, manual re-KYC), PIX deposits and withdrawals with worked examples, bank-account records typed as PIX, TED, WIRE, SEPA or ACH, institutional FX quotes, crypto deposits to Bloquo-managed addresses and withdrawals to whitelisted destinations approved by compliance, account groups, bulk CSV operations and signed webhooks. Named accounts in USD, EUR, GBP and BRL and Faster Payments appear in the docs under a coming-soon label. Bloquo's blog reports more than $2B in annualized volume, 100+ countries and 30+ currencies (its own figures, not in the docs) and names Bybit and Conduit as clients.

What is Lumx?

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, 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.

Lumx was founded in 2022 in Rio de Janeiro and is backed by BTG Pactual, the largest investment bank in Latin America. Custodial wallets run in production, segregated per customer, on Ethereum, Polygon, Base and Tron, with Stellar for USDC on-ramps in BRL. In Brazil, Lumx SPSAV Ltda operates under Article 88 of Central Bank Resolution 520/2025; in the US, Lumx US OP LLC is a FinCEN-registered MSB (#31000316459619). Lumx processes more than $2B in annualized payment volume (as of September 2026). Customers include Nomad, Logcomex and Conta Simples.

How do Lumx and Bloquo compare?

Model. Both are Brazilian VASPs with one API and KYC inside, and both serve businesses rather than consumers. Bloquo's API is shaped for a virtual asset business: sub-accounts with KYC states, PIX ramps by QR code, institutional FX quotes, crypto deposits and whitelisted withdrawals, bulk CSV operations and account groups. Lumx's API is shaped for embedding payments: named accounts in six currencies, payouts over nine local rails and SWIFT, custodied balances and locked FX quotes. On rails, Bloquo's spec documents PIX with worked examples, lists TED, wire, SEPA and ACH as bank-account types without examples, and puts Faster Payments and named accounts under coming soon; SPEI, PSE, Bre-B and SWIFT do not appear. Lumx runs PIX, SPEI, PSE, Bre-B, ACH, Fedwire, SEPA, Faster Payments and SWIFT in USD with named accounts live in BRL, MXN, COP, USD, EUR and GBP. Bloquo's VASP-as-a-Service is a product Lumx does not offer.

Custody. Lumx custodies in production, one segregated wallet per customer, USDC and USDT on Ethereum, Polygon, Base and Tron, with Stellar for BRL on-ramps. Bloquo's docs describe deposit addresses managed by Bloquo and withdrawals only to destinations whitelisted after compliance review, while tagging the model as non-custodial; the spec's examples show USDT on Ethereum and no other token or chain, and there is no custodied-balance product in the endpoint list. A team whose users hold a stablecoin balance across chains has that on Lumx today; on Bloquo the flow is deposit, convert, withdraw.

Pricing and compliance. Neither publishes plans. Bloquo prices per-pair FX spreads set per client. Lumx charges a monthly platform fee plus usage-based per-transaction and virtual account fees, with transparent FX on locked quotes and no pre-funding; plans are not published, so contact sales. Compliance is parity: both operate under Article 88 of Central Bank Resolution 520/2025 while their VASP authorizations are processed, and both have a FinCEN-registered MSB in the US (Lumx publishes its number; Bloquo does not). Both run KYC and KYB with UBO capture. Lumx documents Sumsub token sharing, Chainalysis on-chain monitoring and purpose codes and holder relationships on every payment; Bloquo documents sub-account lifecycle states, PEP flags and manual re-KYC, and names no on-chain monitoring vendor.

When is Lumx the better fit?

• You need Mexico or Colombia. SPEI, PSE and Bre-B are live on Lumx and absent from Bloquo's spec. See USDC to MXN and USDC to COP.

• You collect in the eurozone or the UK. SEPA and Faster Payments run in production on Lumx; Bloquo lists SEPA without examples and Faster Payments as coming soon.

• Your customers need an account in their own name. Lumx issues named accounts in six currencies now; Bloquo's are documented as coming soon. See USDC to BRL and BRL to USDC.

• Your users hold a balance. Lumx custodial wallets hold USDC and USDT on four chains; Bloquo's flow is deposit, convert and withdraw to a whitelisted address.

• You settle SWIFT payouts. Lumx runs SWIFT in USD with UETR and MT103; SWIFT does not appear in Bloquo's spec.

• You want a sandbox on sign-up. Lumx accounts open in a sandbox with mock partners and magic numbers; Bloquo's docs point to its team for access.

Where does Bloquo fit?

Bloquo does things Lumx does not do, and this page should say so plainly.

• VASP-as-a-Service. A company launches a virtual asset business under its own brand with Bloquo's licences, ledger and compliance behind it. Lumx does not sell a white-label VASP.

• Bulk operations and account groups. CSV-driven transfers and grouped sub-accounts, built for exchanges and OTC desks. Lumx has no batch endpoint.

• Institutional FX quotes. Direct quotes with per-pair spreads for high-ticket conversions.

• Sub-account KYC lifecycle. States, PEP flags and manual re-KYC exposed on the API for operators who manage many end clients.

• Trade-finance yield. Bloquo Finance, on a separate site, offers yield vaults; Lumx offers no yield product.

Can you use Lumx and Bloquo together?

Yes. A company running a virtual asset business on Bloquo's VASP-as-a-Service can use Lumx for the payment legs that Bloquo does not run today: SPEI, PSE, Bre-B, SEPA, Faster Payments, SWIFT and named accounts in six currencies. Both settle USDT on Ethereum, so a balance moves between them on-chain. Both send signed webhooks on status changes, so the reconciliation model is the same on each side.

How do you migrate from Bloquo to Lumx?

1. Map Bloquo sub-accounts to Lumx customers. Both run KYC and KYB with UBO capture; Lumx can import a prior Sumsub verification through token sharing. Lumx adds a holder relationship (SUPPLIER, EMPLOYEE, SUBSIDIARY and others) and a purpose code on each payment.

2. Open a sandbox at dashboard.lumx.io. New accounts start in a sandbox with mock banking partners; magic numbers on taxId force approved, rejected or pending verification.

3. Replace PIX QR-code deposits with named BRL accounts. Each customer gets a BRL account in their own name; add MXN, COP, USD, EUR and GBP accounts where the corridor needs them.

4. Move balances. Withdraw USDT from Bloquo to the customer's Lumx custodial wallet on Ethereum; Lumx also runs USDC and USDT on Polygon, Base and Tron.

5. Replace bulk CSV transfers with per-transfer calls. Lumx has no batch endpoint; each payout is one call on a locked quote (30 seconds free, one or five minutes for a fee).

6. Subscribe to webhooks and run parallel. Send Idempotency-Key on every mutation, reconcile both ledgers for one cycle, then move production traffic. Read the docs or talk to us.