Neobank Yopaki Strives to Turn Every Mexican into a Bitcoiner

Company Spotlight: Yopaki – A Bitcoin-Powered Neobank Transforming Mexico’s Financial Landscape

About Yopaki

• Founders: Francisco Chavarria (CEO) and Carlos Chida (CTO)
• Founded: March 2023
• Headquarters: Austin, TX
• Team: Four full-time employees, one part-time
• Business Type: Private
• Mission Statement: To bring Bitcoin to everyday Mexican citizens and make financial accessibility simple and fair

The Inspiration Behind Yopaki

In 2021, Francisco Chavarria attended a major Bitcoin conference where an electrifying keynote speech announced Bitcoin as legal tender in El Salvador. This moment ignited Chavarria’s passion for Bitcoin, turning it into a career-defining journey.

Two years later, Chavarria set aside his consulting career in Software as a Service (SaaS) and teamed up with co-founder Carlos Chida to build Yopaki. Their vision: a Bitcoin-focused neobank aimed at empowering the people of Mexico with fair financial tools, while also making the app available to international users through its non-custodial Lightning wallet system.

The Meaning Behind the Name

The name Yopaki comes from Nahuatl, the ancient language of the Aztecs, and reflects a profound cultural and historical significance. Translating roughly to “the pursuit of happiness,” the name symbolizes the platform’s goal—helping people achieve financial freedom through education and empowering tools like Bitcoin.

Yopaki’s Mission

Chavarria’s goal for Yopaki is ambitious—to turn every Mexican into a Bitcoiner. To achieve this, Yopaki offers users three types of accounts:

1. Mexican Peso Account: Removes high-fee predatory systems common in traditional banking.
2. US Dollar Account: Offers savings and transactional options with stable currency.
3. Bitcoin Lightning Wallet: A non-custodial option for fast, secure Bitcoin transactions.

Bitcoin and the Mexican Financial System

While much of Latin America is underserved in terms of banking, Mexico has relatively advanced financial infrastructure. Convenience stores like OXXO make access to payment rails easy. However, high fees tied to prepaid Visa cards and similar options create a barrier to financial freedom.

To address this issue, Yopaki not only reduces costs but integrates Bitcoin as an alternative to traditional banking tools. With Bitcoin-backed accounts and planned expansions into stocks and securities, Yopaki delivers financial inclusion for the underbanked population while promoting Bitcoin legitimacy.

Gamifying Bitcoin Through a Cultural Lens

One of Yopaki’s standout features is its approach to making Bitcoin education fun. By integrating a Bitcoin-themed version of Lotería—a Mexican cultural favorite akin to bingo—the app promotes learning in an enjoyable way. Players earn Bitcoin (sats) as rewards for participating, encouraging engagement and deeper understanding of Bitcoin.

Lightning Network concepts and Bitcoin personalities feature prominently in the game. As Chavarria noted, “We’ve received feedback like: ‘I didn’t realize Bitcoin could be fun.’ That’s been huge for us.”

Partnership with Breez for Lightning Wallets

To ensure a seamless, beginner-friendly user experience, Yopaki partnered with Breez to power its non-custodial Bitcoin Lightning wallet. Their implementation simplifies the complicated process of channel management, making Bitcoin more accessible for everyone.

Chavarria emphasized the importance of simplicity: “The second you introduce unnecessary challenges, the experience becomes intimidating. We wanted to create that ‘wow’ moment for users, making Bitcoin transactions fast, simple, and reliable.”

Prioritizing Education and Self-Sovereignty

A core value of Yopaki is financial education. The platform offers concise lessons on topics such as “What is Money?” to build curiosity about Bitcoin and its role in personal finance. Chavarria believes legacy financial systems have underestimated users’ willingness to learn, and Yopaki aims to fill that gap.

Unlike competitors in the region that focus on tokens and NFTs, Yopaki focuses strictly on building trust through transparency and education. As Chavarria explained, “We don’t hold user funds, we’re helping people transition into being their own bank.”

Shaping the Vision with Wolf Accelerator

In their early development, Chavarria and Chida participated in a startup incubation program designed for Bitcoin-focused ventures. The program was pivotal in refining their approach, helping them build an app that stood out in the marketplace.

“Going through Wolf was invaluable,” said Chavarria. “It pushed us to articulate not only why our mission is important, but how we’ll execute it.”

What’s Next for Yopaki?

The next year promises substantial growth for Yopaki, with plans to:

• Introduce a Bitcoin exchange
• Provide debit cards for payments in pesos, dollars, or Bitcoin
• Expand rewards systems, offering Bitcoin-back incentives for financial activities
• Enable investments in traditional assets like stocks and ETFs

Chavarria remains optimistic about Yopaki’s future. “Building in the bear market is challenging, but now the good times are ahead. It’s exciting to see our vision coming to life.”

Conclusion

Yopaki is much more than a Bitcoin app; it’s a cultural movement to integrate Bitcoin into everyday Mexican life. By combining banking services, education, and entertainment, the platform is positioning itself as a transformative tool for financial empowerment. For Chavarria and his team, the journey has just begun, but with Yopaki, they’re determined to bring financial freedom and innovation to the forefront in Mexico and beyond.