Bitso Exchange, which started serving in Mexico, Expands Its Space

Bitso Exchange, which started serving in Mexico, Expands Its Space

Bitso Exchange, which started serving in Mexico, expands Its space. Bitso has partnered with remittance service. Felix Pago to enable crypto transfers. Felix Pago is the provider of “chat money transfer technology”.

Over time, Ripple’s On-Demand Liquidity (ODL) is becoming increasingly popular in Latin America’s cross-border recovery region. Bitso, Latin America’s largest cryptocurrency platform and Ripple client, has partnered with the Felix Pago remittance service. To allow encrypted transfers between the United States and Mexico using WhatsApp.

The agreement also stated that Bitso and Felix Pago eventually wanted to expand their operations. And other Latin American markets include Brazil, Colombia and Argentina. Among the largest in all of Latin America, millions of people use the route through Mexico to send money home. According to the forecast, Mexico received $ 51.6 billion in export earnings in 2021, or 40.4% of all remittances sent to Latin America.

Jobs are important to Mexicans

In addition, Felix Pago is the provider of “Technology Transfer Money Chat”. At the beginning of 2022, it started to offer payment services accessible through WhatsApp. With this feature, users can perform simple transactions such as sending text messages. Funds will be transferred and settled directly within the instant messaging platform.

Through this partnership, Bitso will serve as a crypto backend provider. Allowing customers to send and receive US dollars and pesos without having to connect to the complexities of the underlying cryptographic infrastructure. In addition, co-founder Bernardo Garca expressed his company’s interest in collaborating with Bitso to provide this “important service” to Mexican families.

Also, the partnership between Bitso and Felix Pago is not the only recent growth in Ripple’s ODL service base. Additionally, ODL, which leverages XRP, has integrated a new export market. In addition to supporting business payments for small businesses and buyers and sellers.

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