Stellar Development Foundation hosts a discussion on Meru, a Stellar-based non-custodial wallet enabling stablecoin adoption in Bolivia amid dollar shortages. Carlos Neira explains Meru's organic growth, user behaviors like QR payments and high-yield savings via Blend, and why Stellar's developer tools and financial interoperability were key choices. The talk covers regulatory shifts, B2B expansions, and emerging market opportunities.
In this SDF Off-Chain Hours session, Justin Norman interviews Carlos Neira of Meru about real-world stablecoin adoption in Bolivia, featured in Norman's Money Trails series. Bolivia's dollar crisis, exacerbated by depleted gas exports and card restrictions, drove organic Meru adoption after crypto legalization in June 2024, with 99% stablecoin usage for imports, online payments, and QR spending. Meru, launched in late 2022 on Stellar, offers seamless on/off-ramps, Visa cards, and savings yielding up to 18% via DeFi partner Blend, attracting users across Latin America including Argentina, Colombia, and Venezuela. Carlos highlights Stellar's advantages like gas sponsorship, key management tools, and compatibility with traditional finance, enabling fast, user-friendly transactions. They discuss parallel exchange rates, business hacks using consumer tools, and Meru's new B2B product. Regulatory progress and economic shifts in Bolivia signal further growth, with Meru expanding to Africa.
