Hinkal x Peso: Private Stablecoin Payments for LATAM

Hinkal and Peso are partnering to bring private stablecoin payments to LATAM. The integration adds a confidential balance and private transfer layer to the Peso wallet across Bolivia, Peru, and Colombia - without changing the wallet, the login, the card, the on-ramp, the off-ramp, or the product Peso users already have. Peso users will be able to hold a private USDC balance and send privately with a single toggle inside the same wallet they use today.

Why We're Partnering

Peso gives LATAM users the dollar account their banks could not. Hold USDC. Spend with a card. On-ramp from local currency. Off-ramp back. Earn yield on the balance. Cross-border transfers that settle in minutes instead of days. The wallet runs on Polygon, and for users in Bolivia, Peru, and Colombia.It is the product that picks up where traditional banking left off..

None of that required making every balance and transfer public. Yet they are. A freelancer's savings, a family's remittance, a shopowner's supplier payments - all one Polygonscan search away for anyone with a wallet address. Not regulators. Anyone.

LATAM regulators already have formal reporting channels and do not need a block explorer to do their job. They get identity-linked transaction data directly from exchanges and service providers through mandatory reporting obligations - the same way they oversee banks. Colombia requires service providers to report balances from the 2026 tax year. Peru cross-references exchange data with tax filings. Bolivia places wallet providers under transaction monitoring. Oversight works through these channels. The block explorer just happens to give the same access to everyone else - competitors, counterparties, strangers - for free.

Hinkal removes that tradeoff. Regulators keep access through viewing keys and Chainalysis KYT screening. The public does not. The same infrastructure already live inside the Polygon Wallet, processing billions in institutional volume through MPCVault, and running as the confidential settlement layer on the Borderless network - now integrating directly into the Peso wallet.

How It Fits the Peso Model

Peso is a non-custodial wallet. The user holds the private key. Peso does not take custody of funds at any point. Hinkal preserves that model exactly: the same wallet key that controls the public balance controls the private balance.

Concretely:

  • The Peso user keeps the same wallet, the same address, and the same login.
  • The Peso card, on-ramp, off-ramp, and earn product work as today. The fiat side does not change.
  • Inside the wallet, the user sees a public balance and a private balance - both controlled by the same key.
  • Moving funds between public and private is a single action inside the wallet.
  • Sending privately is one toggle: the user picks 'send privately' alongside the standard send action.
  • Sender, recipient, and amount are shielded on-chain. The transaction is verified through a zero-knowledge proof. The financial details are not visible on the public ledger.
  • Peso does not take custody. Hinkal does not take custody. Funds never leave the user's control mid-transfer.

The user reads the same balance from the Peso wallet interface. Same product, same custody model, one new toggle.

Use Cases This Opens

Four categories of Peso users get the most direct benefit.

Freelancers and remote workers
LATAM has one of the largest freelancer populations paid in USD stablecoins. Meta started paying creators in USDC in Colombia through Stripe in April 2026. A freelancer holding $4,000 USDC in their Peso wallet no longer publishes that balance to anyone with the wallet address. Income patterns, recurring payouts, and total savings stay between the user and whoever they choose to disclose to.

Cross-border family transfers
LATAM remittance flow reached $174B in 2025. A growing share moves through stablecoin wallets. A Peso user sending USDC to family in Buenos Aires no longer leaves the transfer amount, the relationship, and the running balance on both sides visible on-chain. Regulators can be granted visibility through viewing keys. The public does not get it by default.

Small businesses and merchants
A shopowner in La Paz paying suppliers in USDC through Peso currently publishes the supplier list, payment frequency, and order size to any competitor and a counterparty with a Polygonscan account. Private payments close that exposure without changing the payment flow.

Compliance Posture

The integration is designed to fit the regulatory frame LATAM users and Peso already operate in:

  • Every private transfer is screened against Chainalysis KYT before it executes.
  • Each user holds a viewing key allowing them to prove transaction history to regulators, auditors, or any third party they choose to disclose to.
  • Selective disclosure means regulators who require visibility can be granted it - without the data being public to everyone else. Privacy from the market, not from regulators.
  • Travel-rule data and existing compliance flows are unchanged.

Bessemer Venture Partners published a stablecoin roadmap in April 2026 naming privacy as the third of five blockers to the next wave of stablecoin adoption. Hinkal is named in the roadmap. The compliance-compatible design is why - privacy that works inside regulated flows, not around them.

What's Next

The integration is coming to Peso wallets across Bolivia, Peru, and Colombia. If you're building a wallet, neobank, or payments product in LATAM and want the same privacy infrastructure inside your product, get in touch. The dollar account LATAM wanted was never just about access. It was about access without exposure.

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