Bitso and Félix Pago team on crypto-powered remittances via WhatsApp
Latin America’s largest cryptocurrency platform, Bitso, has joined forces with remittance provider Félix Pago to enable WhatsApp-based crypto-powered payments from the United States to Mexico.
Through Félix Pago’s WhatsApp integration, users can send funds internationally just as easily as they would send a text message, taking only 45 seconds for the transaction to be sent with real-time settlement.
The firm is working with Bitso operating as a backend crypto provider, allowing users to seamlessly send US Dollars which are received as Pesos, without having to navigate complex crypto infrastructure.
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By using Bitso’s processing engine, Félix Pago says it can plug in fast settlement and low transaction costs, replacing expensive and slow traditional remittance methods like wire transfers.
Initially for payments between the US and Mexico, the partners plan to expand to other countries in Latin America.
Carlos Lovera, development leader, Bitso Business, says: “Working hand in hand with Félix Pago, we are demonstrating that remittances can be extremely easy, cheap, and fast to send and that cryptocurrencies are capable of directly benefiting people and solving their real-world problems.”
Source: Finextra
