The Story behind Lulubit & it’s path in Volcano 🌋

The idea behind Lulubit started in traffic, on a rainy day in Panama, while trying to exchange $200 in cash.

“It couldn’t be possible that we still had to use cash. I wanted to do it directly from my bank.”  - Ianir Sonis, CEO Lulubit

That simple thought became the foundation for one of the fastest-growing crypto-fintech platforms in Central America; a company now serving more than 50,000 users across Panama, Guatemala, Costa Rica, Honduras, and beyond.

But the story of Lulubit is not only about crypto.

It’s about access, financial inclusion, and about building the infrastructure for a more connected Latin America.

Building the Bridge Between Crypto and the Real Economy

At a time when buying cryptocurrencies in Central America often meant navigating risky peer-to-peer transactions or expensive third-party platforms, Lulubit set out to simplify the experience.

The vision was clear: make crypto usable, accessible, and connected to everyday life.

Today, Lulubit allows users to buy and sell cryptocurrencies directly from their local banks, while also enabling real-world utility through products like the Lulucard, a debit card that automatically converts crypto into dollars at the moment of purchase, without requiring users to pre-sell their assets.

But for Ianir, the company was never only about technology.

“We don’t have users. We have a community.”

That philosophy became one of the defining aspects of the company’s growth. Many of Lulubit’s products and features were built directly from community feedback, from remittance solutions to tools that help freelancers and remote workers receive payments from abroad more easily.

The mission wasn’t simply to build another fintech platform.It was to create real use cases that solved real problems for people across the region.

Startup Avenue: More Than a Competition

When Lulubit first applied to Startup Avenue, the company was just beginning its expansion into Central America.

What happened next changed everything.

“When Lulubit first applied to Startup Avenue, we were just beginning to expand into Central America. During the competition, we met people who today are our investors, partners, and friends.” 

In their first year participating, Lulubit became one of the winners of Startup Avenue Competition. But according to Ianir, the biggest win wasn’t the prize itself.

It was the relationships.

The conversations that turned into partnerships.The people who later joined the company.The ecosystem that continued growing long after the summit ended.

That experience reflects one of the core beliefs behind : meaningful connections create exponential impact.

“Volcano Is Not an Event. It’s an Experience.”

For Ianir, Volcano became more than a conference.

That perspective mirrors Volcano’s broader mission of building a year-round ecosystem rooted in collaboration, trust, and transformation across Latin America.

What stood out most to him was the energy.

The feeling of seeing founders, investors, banks, creatives, and innovators from across the region gathering in one place , all actively building the future of Central America together.

“The energy that flows in Volcano Summit, it’s amazing.”

After winning Startup Avenue, Lulubit returned the following year,  not as competitors, but as sponsors.

A full-circle moment. For the team, Volcano became a recurring checkpoint in their journey. A place where relationships deepen, opportunities emerge, and the region’s innovation ecosystem continues expanding.

“And now, for us, every September, we shall meet in Antigua at Volcano Summit.”

Thank you, Ianir, for sharing your light. 

-The Volcano Team 🌋