In order to make it possible for companies from all over the world to connect with Latin America to do business, Bitso —the financial services company powered by crypto in Latin America, with more than 1,500 institutional clients globally— announced “that it is expanding its offer of business solutions with the launch of International Payments, its new suite of products for that market.”
International payments are the engine that “enables cross-border trade and investment and play a key role in the global economy, accounting for more than 16% of total transaction volume,” according to a report from the consultancy firm McKinsey, which opens the possibility of “connecting the countries of the region with developed economies and contributes to improving the standard of living with a positive impact on local markets.”
Santiago Alvarado, SVP of Institutional Products at Bitso, said:
“With this launch, we seek to boost the local economies of our region, by facilitating operations between countries and opening trade corridors that increase the development and prosperity of Latin America. We want to continue promoting the growth of the more than 1,500 companies that already trust Bitso’s institutional services today, and we seek to attract new institutions from the region and the world to do business in Latin America and export their services globally. This is an important step towards our mission of making crypto useful, and places Latin America at the forefront of crypto-based financial services.”
This new set of products will “allow companies to send and receive payments in crypto, stablecoins and local currencies in the countries where Bitso operates, make payments in real time, from any country in the world, quickly and at more competitive costs than the traditional options, all through APIs.”
The various integrations and alliances “made by Bitso, as well as the use of stablecoins and the main currencies in the world will allow its institutional clients to move money in the region, send or collect payments with clients and suppliers quickly, safely and 24/7, ensuring more efficient cross-border transactions.”
