Bitso Partners with Felix Pago to Offer Whatsapp-Based Money Transfer Services Between Mexico and the United States CryptoGlobe

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Bitso, a Latam-focused cryptocurrency exchange, has partnered with chat payments provider Felix Pagos to offer WhatsApp-integrated remittances. The goal of this partnership is to put nearly instantaneous chat remittances into the hands of Mexican and American users who might otherwise be intimidated by crypto technology.

Bitso will power Felix Pagos Whatsapp integrated remittances

Remittances have been an important use case for cryptocurrency, but the relative lack of awareness of these tools has slowed adoption in this area. Bitso, one of Latam’s largest crypto exchanges with over six million users, has partnered with Felix Pagos, a chat payments provider, to make it easier to use crypto for sending money. funds through Whatsapp.

Through the use of Whatsapp, Felix Pagos users will be able to send funds without knowing that they are even using cryptocurrencies. This would allow these remittances to reach audiences that are not normally crypto-savvy, including the elderly. Trades are said to take 45 seconds to send and enable near real-time settlement thanks to Bitso’s backend.

Carlos Lovera, Head of Development at Bitso Business, said:

By working hand in hand with Flix Pago, we demonstrate that remittances can be extremely easy, cheap and fast to send and that cryptocurrencies are capable of directly benefiting people and solving their real problems.

The remittance corridor between Mexico and the United States is of great importance to both companies, as in October alone it recorded $5.36 billion sent by Mexicans living in the United States. The service is only available to Mexicans at launch, but Bitso and Felix Pagos aim to expand this feature to other Latam countries in the future.

Internal function

The system uses Bitso’s backend as a liquidity provider and bridge that allows Felix users to receive US dollar remittances in the form of Mexican pesos to a Mexico-based bank account. This is possible through the use of USDC, which acts as the base asset of the system, according to the Stellar use case study.

However, Bitso is not new to the remittance business as the company also provides similar services to its customers. By June, Bitso had facilitated $1 billion in remittances. Additionally, the company introduced a similar service in Colombia in July, powered by stablecoins to avoid volatility and inflation.

What do you think of the partnership between Bitso and Felix Pagos to facilitate Whatsapp money transfers between Mexico and the United States? Tell us in the comments section below.

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late in the game, entering the cryptosphere when the price spike happened in December 2017. Having a background in computer engineering, living in Venezuela and impacted by the cryptocurrency boom at the social, it offers a different point of view. on the success of crypto and how it helps the unbanked and underserved.

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