Cross-border payments company bridge21 announced its partnership with Bitso, the Financial Company powered by Crypto in Latin America, in order “to expand their support for local payments from the US, throughout Latin America.”
According to a report, the overall cross-border payment market “stood at $176.5 billion in 2021 and should reach $238.9 billion by 2027.”
As the world becomes more global and technologies like blockchain make it possible to move money between countries “in a faster, more accessible and transparent way, companies of all sizes can take advantage of this to develop and grow at an accelerated pace that was previously not possible by the traditional mechanisms.”
Bridge21 has been a Bitso client “for the last 7 years and has used the platform to provide services to its clients who send mass or unique payments from the United States to Mexico, now it extends its relationship to an alliance with which it will expand its services to businesses in the countries where Bitso currently operates, with exceptional speed and efficiency.”
Recently, the Latin American firm has “embarked on an intense period of growth of its services to companies, from its Bitso Business division, it recently launched its International Payments services platform and today it has a portfolio of more than 1,500 institutional clients that use these services.”
Eduardo Cruz, Head of Partnerships at Bitso Business, said:
“The evolution of our relationship with bridge21 fills us with pride, because it is testimony to the power that crypto technology and the blockchain have to solve concrete problems of companies and facilitate their operation with simple and real-time payments between countries, and proves that we are building the infrastructure for the future of money together.”
As noted in the update, bridge21 explains that it “helps businesses make cross-border payments to Latin America. bridge21’s payments technology uses digital assets for currency exchange, enabling fast, efficient, and local payouts.”
