In an increasingly globalized economic and financial landscape, companies are adopting innovative measures to improve their operations: increasing their speed and reducing costs. This, according to a comprehensive report from Bitso.
In this context, Bitso explains that the use of the crypto ecosystem and blockchain infrastructure “has emerged as an efficient solution to optimize the payment network and international transfers in corporate and institutional environments.”
According to figures from the Mexican Association of Online Sales (AMVO), electronic commerce in Mexico continues “to expand and during 2023 it reached a market value greater than $658 billion dollars, marking an increase of 24.6% compared to the previous year.”
Mexico has positioned itself “as the number one place in e-commerce growth in retail worldwide.”
However, e-commerce is only “one of the industries that requires greater ease in payments and alternative technologies that facilitate transactions between countries.”
Although the crypto ecosystem is best known “for its use for investment, the adoption of this infrastructure is expanding widely to optimize financial operations and payments through networks implemented by specialized companies.”
Advantages of blockchain-based payment infrastructure for businesses:
Payment platforms based on blockchain technology “offer significant advantages” for companies:
- Faster transactions: allows funds to be moved efficiently and in a timely manner, which speeds up business processes and improves liquidity. This can be especially beneficial in industries where speed is of the essence, such as international trade, going from days to just minutes to complete payments.
- Enhanced Security: Provides a more reliable environment for financial transactions, protecting company assets from fraud and cyber attacks. This builds trust between customers and business partners, which can strengthen the company’s reputation.
- Reduced costs associated with traditional transfers: significant savings by eliminating high fees and commissions associated with conventional transfers.
- Growth opportunities into other markets: Payment infrastructure providers like Bitso, which have regulatory licenses in all the countries where they operate, can help global companies expand their businesses to new markets, connecting them with local financial systems in a regulated manner. . This allows them to make and receive payments in local currency, while fully complying with local legislation.
- Decentralization inherent to cryptocurrencies: Decentralization provides greater flexibility and autonomy by eliminating dependence on traditional financial intermediaries. This allows companies to have greater control over their assets and transactions, as well as access and participate in global financial markets more directly.
In this sense, blockchain-based payment brokers “are gaining popularity thanks to platforms that provide a simple and secure interface to carry out transactions with digital assets or fiat money, allowing companies to take advantage of the speed and efficiency of transactions to carry out and receive cross-border payments instantly and at reduced costs, eliminating the geographic and financial barriers that previously limited its global reach.”
Gabriele Zuliani, commercial director of Bitso Business:
“The use of blockchain is revolutionizing the way companies manage their international payments and transfers. This payment infrastructure offers an efficient and secure alternative to traditional methods, allowing them to optimize their financial processes and improve their competitiveness in the market.”
Gabriele adds that providers of this type of payment infrastructure “are gaining popularity among companies in all industries thanks to their autonomy, stability and efficiency, compared to traditional channels.”
As noted in the update:
“We could say that blockchain-based infrastructure is becoming the great payment network of the future, equally benefiting small and medium-sized businesses, startups or large companies that want to expand their business globally and conquer new markets.”
As covered, Bitso is the cryptocurrency-powered financial services company in Latin America, with a community of “more than 8 million clients and 1,700 institutional clients.”
Bitso offers a wide range of products: from a secure and easy-to-use digital platform for earning returns, “making transfers and transfers between countries, to exchanging and storing a variety of over 50 cryptocurrencies, as well as crypto-powered products for businesses, including crypto transactions and international payments among others.”
Founded in 2014, with over 500 employees in 35 different countries, Bitso is working to make crypto useful “by unlocking the power of borderless, secure and easy-to-use financial products.”
Bitso remains committed to empowering the region “by providing universal access to the digital economy of the future and enabling a fairer monetary system.”
