Latin American Crypto Firm Bitso Joins Stellar Network to Boost International USDC Payments
Companies from all over the world will be able to make transactions to Argentina, Colombia and Mexico.
Bitso, a leading Latin American crypto exchange, has integrated crypto payment specialist Stellar's Anchor Network to expand the payments corridor between Latin America and the rest of the world.
The company said in a statement that it developed a solution in partnership with the Stellar Development Foundation to enable businesses around the world to transact in USDC to Argentina, Colombia and Mexico, where Bitso has a direct connection to local banking systems.
“In recent years, we have seen an increase in cross-border payments globally for both international commerce and remittances. By leveraging blockchain technology and crypto assets, we can significantly improve settlement times and overall costs,” Santiago Alvarado, SVP of Institutional Product at Bitso, said in the statement.
Bitso said it processed $3.3 billion in transactions between Mexico and the U.S., while it registered a 32% increase in total international transfers during the second half of 2022.
Edited by Aoyon Ashraf.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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