, 2022-12-10 07:12:33,
- Ripple ODL client Bitso has partnered with Felix Pago to launch crypto-based Whatsapp remittance between the U.S. and Mexico.
- Bitso and Felix Pago plan to expand to other Latin American countries.
Ripple’s On-Demand Liquidity (ODL) is gaining more traction in the Latin American cross-border settlement corridor. Ripple partner and Latin America’s largest cryptocurrency platform, Bitso, has joined forces with remittance provider Felix Pago to enable WhatsApp-based crypto-powered payments between the U.S. and Mexico.
News outlet CrownFund Insider first reported the partnership, adding that the long-term objective of Bitso and Felix Pago’s arrangement is to extend to other countries in Latin America including Brazil, Colombia, and Argentina in which Bitso already has a significant presence.
The Mexico remittance corridor is one of the biggest in the Latin American region. In 2021, Mexico received an estimated $51.6 billion in remittances in 2021, which accounts for 40.4% of all Latin American remittances. The region also received a record $127.6 billion in remittances during the year, a year-over-year growth of 26 perc
Felix Pago is a provider of “chat remittance technology.” Its payments service launched earlier in 2022, works over WhatsApp. It allows users to perform transactions over the instant messenger platform as easily as sending a text message with settlement in…
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