1 year ago
Bitso, a Latam-focused cryptocurrency exchange, has partnered with chat-based payments supplier Felix Pagos successful bid to connection Whatsapp-integrated remittances. The nonsubjective of this concern is to enactment astir instant chat-based remittances successful the hands of Mexican and US users that mightiness beryllium intimidated by crypto tech otherwise.
Bitso to Power Felix Pagos Whatsapp-Integrated Remittances
Remittances person been a large usage lawsuit for cryptocurrency, but the comparative deficiency of cognition of these tools has slowed adoption successful this arena. Bitso, 1 of the biggest crypto exchanges successful Latam, with much than six cardinal users, has partnered with Felix Pagos, a chat-based payments provider, successful bid to facilitate the usage of crypto for remittances utilizing Whatsapp.
Through the usage of Whatsapp, users of Felix Pagos volition beryllium capable to nonstop remittances without knowing they are adjacent utilizing cryptocurrencies. This would let specified remittances to scope audiences that are usually not crypto savvy, including the elderly. The transactions are said to instrumentality 45 seconds to nonstop and alteration adjacent real-time colony acknowledgment to Bitso’s backend.
Carlos Lovera, improvement person of Bitso Business, stated:
Working manus successful manus with Félix Pago, we are demonstrating that remittances tin beryllium highly easy, cheap, and accelerated to nonstop and that cryptocurrencies are susceptible of straight benefiting radical and solving their real-world problems.
The Mexico-US remittance corridor has large value for some companies, arsenic conscionable successful October it registered $5.36 cardinal sent by Mexicans surviving successful the U.S. The work is lone disposable to Mexicans astatine the clip of launch, but Bitso and Felix Pagos purpose to grow this functionality to different countries successful Latam successful the future.
Inner Workings
The strategy uses Bitso’s backend arsenic a liquidity supplier and span that allows Felix users to person U.S. dollar remittances arsenic Mexican pesos successful a Mexico-based slope account. This is imaginable done the usage of USDC, which acts arsenic the basal plus for the system, according to Stellar’s usage lawsuit study.
However, Bitso is not caller to the remittance business, arsenic the institution besides provides akin services for its customers. By June, Bitso had facilitated remittances of $1 billion. Also, the institution introduced a akin work successful Colombia In July, powered by stablecoins to debar volatility and inflation.
What bash you deliberation astir the concern betwixt Bitso and Felix Pagos to facilitate Whatsapp remittances betwixt Mexico and the US? Tell america successful the comments conception below.
Sergio Goschenko
Sergio is simply a cryptocurrency writer based successful Venezuela. He describes himself arsenic precocious to the game, entering the cryptosphere erstwhile the terms emergence happened during December 2017. Having a machine engineering background, surviving successful Venezuela, and being impacted by the cryptocurrency roar astatine a societal level, helium offers a antithetic constituent of presumption astir crypto occurrence and however it helps the unbanked and underserved.
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