Sorbet, a Riyadh-built stablecoin neobank for the MENA region, has crossed a major milestone, processing over $500,000 in payment volume in under five months since its beta launch in April. The platform, which is designed for freelancers, agencies, and startups, has grown organically to nearly 1,500 users.
By the Numbers
The startup’s early traction highlights a strong demand for its borderless payment solutions:
- $500,000+: The total payment volume processed in under five months, driven entirely by individual users.
- ~1,500 Users: The number of users onboarded since the beta launch in April.
- 150+ New Users: The number of users who joined in August alone.
- 1% Fee: The simple, flat fee for transactions on the platform.
A Neobank for the Global-First Workforce
Sorbet is designed to address the challenges faced by the modern, global workforce in the MENA region. The platform offers users free USD/EUR accounts, global invoicing, and same-day payouts, allowing them to get paid in USDC, USD, or EUR. The core use case is for global talent who want automatic access to the stablecoin USDC, while allowing their clients to pay in traditional fiat currencies like USD or EUR. This simplifies payment collection, centralizing everything in one seamless platform.
Built from Riyadh, Made for MENA
Built from Riyadh and incorporated in the Abu Dhabi Global Market (ADGM), Sorbet is building the on-chain financial stack for global-first teams in the MENA region. The company has ambitious plans for the future, including expanding its services to businesses, supporting more currencies, and launching new features like global cards for spending and the ability to earn up to 10% APY on USDC balances.
