Company Name: Yopaki
Founders: Francisco Chavarria (CEO) and Carlos Chida (CTO)
Date Founded: March 2023
Location of Headquarters: Austin, TX
Number of Employees: Four full-time; one part-time
Website: Yopaki Website
Public or Private? Private
Inspired by the transformative keynote delivered by Jack Mallers at Bitcoin 2021, Francisco Chavarria felt a calling to innovate within the Bitcoin landscape. In March 2023, he, alongside co-founder Carlos Chida, launched Yopaki, a neobank focusing on Bitcoin, aimed at serving the Mexican populace. This exciting venture enables users not only in Mexico but also beyond, through a non-custodial Lightning wallet.
The name ‘Yopaki’ is derived from the ancient Nahuatl language, reflective of Mexico’s rich heritage. Chavarria emphasizes that it translates closely to “the pursuit of happiness,” reiterating that Yopaki is designed not just as a financial service, but a means to enhance users’ lives through financial empowerment.
While often portrayed as a tool for underserved regions, Chavarria sheds light on Mexico’s advanced banking system, illustrated by ubiquitous stores like OXXO, which offer quick access to financial services. However, the fees associated with these services are notably high. Yopaki addresses this concern by providing users with accounts in pesos, dollars, and a non-custodial Bitcoin Lightning wallet, empowering them to transact with lower fees.
Chavarria notes that Yopaki aims to demystify Bitcoin for its users through engaging educational content. The application features micro-lessons covering fundamental topics about money and Bitcoin, making it an educational hub aimed at promoting self-sovereignty and financial understanding. As education differentiates Yopaki from its competitors, the team’s goal is to satisfy the curiosity of users and build a community focused on responsible Bitcoin use.
Yopaki ingeniously integrates the traditional Mexican game of Lotería into its platform, infusing it with Bitcoin-centric themes. Users can earn sats while playing, making the learning process enjoyable. This approach transforms the perception of Bitcoin from a mere investment to an engaging experience, highlighting the cultural significance of this historical pastime.
With ambitious plans ahead, Yopaki intends to launch traditional asset investments and a Bitcoin exchange in early 2025. Moreover, the introduction of debit cards will facilitate transactions in pesos, dollars, or Bitcoin, along with sats-back rewards for users. Chavarria reflects positivity about Yopaki’s growth, “It’s been really fun to build in the bear — now the good times are coming.”
In summary, Yopaki creatively combines financial technology with cultural relevance, aiming for a significant impact on how Mexicans engage with Bitcoin.
