Bitso joins Stellar Network to expand international payments in USDC
The initiative is designed to facilitate remittances between Latin American countries and the rest of the world
19.07.2023 - 14:40
835
1 min
0
Companies from all over the world will be able to make transactions to Argentina, Colombia and Mexico.
Bitso, a leading Latin American crypto exchange, has integrated crypto payment specialist Stellar's Anchor Network to expand the payments corridor between Latin America and the rest of the world.
The company said in a statement that it developed a solution in partnership with the Stellar Development Foundation to enable businesses around the world to transact in USDC to Argentina, Colombia and Mexico, where Bitso has a direct connection to local banking systems.
“In recent years, we have seen an increase in cross-border payments globally for both international commerce and remittances. By leveraging blockchain technology and crypto assets, we can significantly improve settlement times and overall costs,” Santiago Alvarado, SVP of Institutional Product at Bitso, said in the statement.
Bitso said it processed $3.3 billion in transactions between Mexico and the U.S., while it registered a 32% increase in total international transfers during the second half of 2022.
This material is taken from the website https://www.coindesk.com.
Useful material?
Market
Due to supply shortages, the asset’s pre-market exchange rate was climbing above $1000
Dec 16, 2024
Incidents
Reports about the hacking of the exchange with calls to withdraw assets began to spread on December 13
Dec 13, 2024
Crypto regulations
Stablecoins from issuer Circle will not be affected by the changes
Dec 12, 2024
Crypto regulations
The platform will launch after meeting the preconditions of the local exchange authority
Dec 9, 2024
Market
The $1,1 billion figure was reached after the bitcoin correction
Dec 6, 2024
Crypto regulations
By early January, all open positions and loans of local users will be closed and repaid automatically
Dec 5, 2024