Wenia

What Wenia does

Wenia is a Bermuda-incorporated, Colombia-operated crypto retail platform developed by Grupo Cibest (associated with Bancolombia) that launched in May 2024 under a Class F digital asset business license from the Bermuda Monetary Authority. The platform's core product is a mobile wallet and exchange (Wenia App, iOS and Android) that on-ramps Colombian users from Bancolombia, Nequi, or card into COPW, a proprietary Colombian peso stablecoin issued on Polygon with OpenZeppelin audit and Chainlink proof-of-reserve, and then converts into 11 cryptoassets including BTC, ETH, SOL, USDC, EURC, USDW, POL, AVAX, XRP, and ADA. The stack is assembled from category-leading partners: Fireblocks for custody, Chainalysis for blockchain analytics, Circle for USDC/EURC liquidity, Bridge for ACH rails, and Mastercard for the Wenia Card debit product, which is issued through Colombian subsidiary Wenia S.A.S. and supports Apple Pay and Google Pay with a $3,000 monthly spend cap. International transfers are served by Cuenta Global, which uses ACH to settle USDW and SEPA-equivalent to settle EURC; a rewards program yields up to 6% E.A. on locked USDC/USDW.

Wenia operates a product-led, mobile-first distribution model targeted at Colombian consumers — crypto-curious users, peso-devaluation hedgers, and international freelancers receiving USD/EUR payments — and is embedded as the digital-dollar on-ramp inside the Bancolombia and Nequi banking apps. The company's business model is dominated by transaction-based monetization: a 0.1% + IVA conversion commission (reduced from 0.6% + IVA in 2024) on inter-asset swaps, Mastercard interchange on Wenia Card spend, fixed 1.99/2.99-unit fees on Cuenta Global receipts and sends, and a yield-incentive rewards program designed to retain stablecoin balances. There is no disclosed revenue, no external venture funding, and ownership remains with parent Grupo Cibest, implying the unit is currently a strategic distribution asset rather than a financially independent entity.

Name

Wenia

Legal name

Wenia Ltd.

Website

https://wenia.com

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

51–100 employees

Short description

Wenia is a Bermuda-regulated crypto wallet and Mastercard debit-card app for Colombian consumers, developed by Grupo Cibest to convert COP to and from 11 digital assets via the proprietary COPW and USDW stablecoins and distributed through the Bancolombia and Nequi banking apps.

Ownership category

akta.pro rank

Product category

Crypto Exchange and Digital Wallet

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Crypto Payments & Stablecoin Settlement Platforms (BPAMAFAL)

akta.pro secondary industries

Mint/Redeem, Issuance APIs & Treasury Operations Platforms (FSADADAE), Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG), Enterprise Payments & Tokenized Money (stablecoins, tokenized deposits, CBDC rails) (FSAPAIAJ)

Keywords

• Crypto exchange platform
• Stablecoin issuance
• Crypto debit card
• Digital asset wallet
• Cross-border payments

Headquarters

HQ city

Hamilton

HQ country

Bermuda

Offices2 records

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Crypto Conversion/Swap Fees: Wenia charges a 0.1% + VAT commission on conversions between crypto assets within the platform. This is the primary transaction-based revenue stream from active crypto users.
2. Wenia Card Interchange: Revenue generated from card transactions when users pay with crypto assets at Mastercard merchants worldwide. The card is free to create with no monthly fee.
3. USDW Rewards Program: Wenia offers up to 6% E.A. rewards for users who lock USDW in the app (for amounts 5,000-50,000 USDW). This incentivizes wallet holdings and drives user engagement.
4. Global Account Transfer Fees: Fixed fees for receiving (1.99 USDW) and sending (2.99 USDW) through the Cuenta Global service for US/EU transfers.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

Wenia offers a mobile-first crypto app and Mastercard debit card that lets Colombian consumers buy, sell, convert, send, receive, and spend 11 digital assets, including Wenia's own stablecoins (COPW, pegged to the Colombian peso; USDW, pegged to the US dollar) and third-party coins such as BTC, ETH, SOL, and USDC. The platform also provides Cuenta Global, a USD/EUR cross-border transfer service via ACH/SEPA-equivalent, a SOL staking product, and a rewards program yielding up to 6% E.A. on USDC holdings.

Product overview

Wenia is a digital assets ecosystem developed by Grupo Cibest (associated with Bancolombia), operating under a Class F digital assets license from the Bermuda Monetary Authority. The core platform is the Wenia App, which bundles a self-custodial crypto wallet (Wenia Billetera Cripto) with a full suite of financial features. The primary on-ramp is COPW, Wenia's proprietary Colombian-peso stablecoin (1:1 peg), alongside Circle's USDC and EURC stablecoins. Users can trade eight additional cryptoassets: BTC, ETH, POL, SOL, AVAX, XRP, and ADA. The Wenia Card (a digital Mastercard) enables direct crypto spending globally. Two Global Account features support cross-border USD and EUR transfers via Bridge. Staking is available for SOL, and a rewards program yields up to 6% E.A. on USDC holdings. The ecosystem integrates natively with Bancolombia, Nequi, Apple Pay, and Google Pay, and is accessible to users of Bancolombia and Nequi as a crypto on-ramp. Educational content, tutorials, and a help center support user onboarding.

Differentiator

Problem solved

Functional benefit

Brands

• Wenia Card: A digital Mastercard debit card that allows users to pay with their cryptocurrency holdings at any merchant accepting Mastercard worldwide, available through Apple Pay and Google Pay.
• USDW
• COPW
• Cuenta Global

Products and services

• Wenia App Mobile application (iOS/Android) and primary interface for the Wenia digital assets ecosystem, enabling Colombian consumers to buy, sell, convert, send, and receive cryptoassets, manage Wenia Card, access staking, earn rewards, and use Cuenta Global for international transfers.
• Wenia Billetera Cripto (Self-Custodial Crypto Wallet) Self-custodial crypto wallet embedded in the Wenia App that lets users store, manage, and transact COPW, BTC, ETH, USDW, EURC, POL, SOL, AVAX, XRP, and ADA; supports buying via Bancolombia, Nequi, and cards, conversion between assets, and selling to fiat.
• COPW Stablecoin Proprietary stablecoin issued by Wenia, pegged 1:1 to the Colombian peso (COP), deployed on the Polygon network; smart contract audited by OpenZeppelin with Chainlink proof-of-reserve. Functions as the primary fiat on-ramp within Wenia's ecosystem and converts into other supported cryptoassets.
• USDW Stablecoin Proprietary US dollar stablecoin issued by Wenia, pegged 1:1 to USD on Ethereum, with reserves managed by Banco Agrícola El Salvador under BMA supervision; eligible for the rewards program yielding up to 6% E.A. on locked holdings.
• Wenia Card (Digital Mastercard) Digital Mastercard debit card issued by Wenia S.A.S. under Colombian SIC oversight, enabling users to pay at any Mastercard-accepting merchant globally using any supported crypto asset (COPW, USDC, BTC, ETH, POL, SOL) directly from their Wenia wallet. Free to create with no monthly fee or interest charges; supports Apple Pay and Google Pay; monthly spending cap of 3,000 USD.
• Cuenta Global — Estados Unidos (US ACH Transfers) Feature within the Wenia App providing a US virtual account for receiving USDW from US bank accounts via ACH transfer, powered by Bridge; supports income from platforms such as Deel, Upwork, Wise, and Airbnb with fixed fees of 1.99 USDW (receive) and 2.99 USDW (send).
• Cuenta Global — Euros Digitales (EUR SEPA Transfers) Feature within the Wenia App enabling users to send and receive EURC to and from European bank accounts, with fixed fees of 1.99 EURC (receive) and 2.99 EURC (send); transfers processed within an estimated 3 business days.
• SOL Staking Crypto staking service allowing users to lock SOL assets and delegate them to trusted validators on the Solana network in exchange for daily staking rewards; requires a minimum of 1.1 SOL and applies a 2-3 day unbonding period.
• USDC Rewards Program Loyalty program allowing users to earn up to 6% E.A. on locked USDC held in their Wenia wallet, with rewards compounding every 12 hours after an initial 24-hour qualification period and no minimum lock-up beyond 24 hours; starts from 1 USDC.
• USDC (Circle Stablecoin on Wenia) Circle's US dollar stablecoin, pegged 1:1 to USD, made available on Wenia via Polygon, Solana, and Base networks for holding, converting, sending, and receiving; incoming USDC and USDT from external wallets auto-convert to USDW at no cost.
• EURC (Circle Euro Stablecoin on Wenia) Circle's euro stablecoin, pegged 1:1 to the euro, available on Wenia via the Base network, enabling users to hold, convert, send, and receive euros digitally and to receive euros from European bank accounts via Cuenta Global.

Quantifiable outcome

• 16,000+ users in first year
• +4 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature5 records

Partnerships

13 partnerships are on record, tiered core and supporting.

• PolygoncoreTechnology or IntegrationPolygon provides the blockchain network for Wenia's COPW stablecoin contract. The partnership enables low-cost, fast transactions for COPW on Polygon's PoS chain. Wenia is committed to supporting Polygon's ecosystem and vision of mass blockchain adoption.
• ChainlinkcoreTechnology or IntegrationChainlink provides proof-of-reserve oracle services for both USDW and COPW stablecoins, enabling real-time verification that tokens are fully backed 1:1. This is critical for Wenia's transparency and trust model.
• ChainalysiscoreTechnology or IntegrationChainalysis provides blockchain analytics and compliance infrastructure to help Wenia meet regulatory requirements and detect suspicious transaction patterns.
• FireblockscoreTechnology or IntegrationFireblocks provides institutional-grade digital asset custody and infrastructure, enabling Wenia to secure customer assets and operate at scale with enterprise security standards.
• AlphaPointsupportingTechnology or IntegrationAlphaPoint provides exchange technology infrastructure supporting Wenia's trading and asset management capabilities.
• CirclecoreTechnology or IntegrationCircle is the issuer of USDC and EURC stablecoins available on Wenia. Wenia integrates these stablecoins, enabling users to convert between COPW, USDC, and EURC. Wenia's USDW complements USDC by providing a Wenia-branded dollar stablecoin option.
• BridgecoreTechnology or IntegrationBridge powers the Global Account service enabling ACH transfers between Wenia users' USDW wallets and US bank accounts. Wenia integrates Bridge to offer US international transfer capabilities to its users.
• MastercardcoreStrategic or Co-development PartnerMastercard provides the payment network for Wenia Card, enabling crypto spending at 50M+ merchants globally. Wenia Card operates as a digital Mastercard-branded card accepted at physical and online merchants.
• BancolombiacoreChannel Partner/ Reseller/ DistributorBancolombia distributes Wenia's digital dollar services within its mobile banking app, enabling Bancolombia's customer base to buy and sell USDC without leaving the banking app. Wenia serves as the technology enabler for these services.
• NequicoreChannel Partner/ Reseller/ DistributorNequi embeds Wenia's USDC buy/sell functionality, allowing its user base to access digital dollar services directly through the Nequi app. Wenia provides the underlying technology and operational infrastructure.
• Arévalo Segovia y asociados, SA de CVsupportingTechnology or IntegrationPart of the oracle network (alongside Chainlink and H&T) that provides reserve verification data for Wenia's COPW and USDW stablecoins.
• H&TsupportingTechnology or IntegrationPart of the oracle network (alongside Chainlink and Arévalo Segovia) that verifies reserve backing for Wenia's stablecoins COPW and USDW.
• Banco Agrícola El SalvadorcoreTechnology or IntegrationBanco Agrícola El Salvador, part of Grupo Cibest, manages the reserves backing Wenia's USDW stablecoin. This banking relationship ensures the dollar reserves are held in a supervised financial institution.

Scale indicators7 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• PayPal: Global payments incumbent with PYUSD stablecoin, crypto buy/sell, and Mastercard debit-card-linked payments. Adjacent incumbent expanding into stablecoin-based payments that may compete with Wenia's value proposition over time.
• Binance: World's largest crypto exchange by volume, with Mastercard crypto card (in select markets), stablecoin trading, and broad fiat on-ramps. Provides direct competitive pressure on Wenia's Colombian retail user base.
• Circle: Issuer of USDC and EURC stablecoins that Wenia directly integrates. As the dominant regulated dollar/euro stablecoin issuer, Circle is both a critical partner and a competitive threat if it expands deeper into consumer channels.
• Crypto.com: Global crypto exchange and issuer of Crypto.com Visa Card. While much broader in scope and global reach, it offers the same core consumer value proposition (crypto wallet + debit card + stablecoins) that Wenia targets regionally.
• Coinbase: US-listed largest US crypto exchange offering consumer wallets, Coinbase Card, USDC integration, and stablecoin services. Operates as a broad incumbent with overlapping capabilities to Wenia's conversion and stablecoin products.

Direct peers

• Bitso: Bitso is the largest LATAM crypto exchange, offering stablecoin trading, Mastercard crypto debit cards, and cross-border payments across Mexico, Argentina, Brazil, and Colombia. Direct overlap with Wenia in Colombian market and product set.
• Ripio: LATAM crypto platform with consumer wallet, Mastercard prepaid card, and cross-border B2B payments, active in Argentina, Brazil, and expanding regionally. Similar product mix (wallet + card + on-ramps) and geographic expansion strategy.
• Belo: Argentina-based consumer crypto app offering stablecoin wallets, Mastercard card, and dollar-denominated savings products, expanding across LATAM. Comparable consumer crypto product surface with similar regulatory positioning.
• Lemon Cash: Argentine consumer crypto app with Mastercard debit card, stablecoin on/off-ramps, and peer-to-peer transfers. Closest direct peer to Wenia in terms of mobile-first retail crypto experience and Visa/Mastercard card issuance in LATAM.

Regional players

• Mercado Bitcoin: Largest Brazilian crypto exchange offering wallets, stablecoins, and tokenized assets via the MB token platform. Comparable as a LATAM-leading retail crypto platform, though primarily Brazil-focused rather than Colombia-focused.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/wenia.oficial
• Xx.com/weniaoficial
• LinkedInlinkedin.com/company/wenia

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Wenia