Bitso is a leading Latin American cryptocurrency exchange that has integrated the Anchor Network of crypto payment specialist Stellar to extend the payments corridor from Latin America to the rest the world.

In a press release, the company stated that they developed a solution with the Stellar Development Foundation in order to allow businesses to conduct transactions in USDC in Argentina, Colombia, and Mexico where Bitso is directly connected to local banking systems.

In recent years we have seen a rise in cross-border payment globally, both for international commerce and remittances. In a statement, Santiago Alvarado said that by leveraging blockchain and crypto assets we can improve settlement times as well as overall costs.

Bitso reported that it processed $3.3 Billion in transactions between Mexico, the U.S. and Canada. It also registered a 32 % increase in the total number of international transfers in the second half 2022.

Aoyon A. Ashraf is the editor.