• Félix and Bitso have partnered to create a Stellar remittance solution for U.S.-based Latinos.
• The solution combines AI and blockchain technology to make sending remittances on Félix as easy and secure as possible.
• Challenges posed by traditional remittance solutions, such as hefty processing fees, the need to travel to send or receive money, and safety concerns, are addressed by Félix and Bitso’s partnership.
Latino immigrants in the United States can now send money back home in a matter of seconds with Félix, a new Whatsapp-based payments platform created through a partnership between fintech and crypto payment giant Bitso, and AI-driven startup Félix. The development marks a major milestone for the ongoing effort to bring reliable, cost-effective, and secure cross-border payments solutions to the masses.
For years, the issue of cross-border payments has been a major problem for those living in the United States and wanting to send money back home. The traditional remittance process was tedious, expensive, and often dangerous. People had to physically travel to send or receive money, pay hefty transaction fees, and potentially put themselves at risk by carrying physical cash.
The founders of Félix have worked to solve the problem of cross-border payments by combining AI and blockchain technology to make the process as easy and secure as possible. The platform, which is based on Whatsapp, allows immigrants in the United States to send money back to their relatives in Latin America in a matter of seconds.
The partnership between Félix and Bitso addresses several challenges posed by traditional remittance solutions. Sending and receiving money is now cheaper, and no physical travel is required. The use of blockchain technology also eliminates the safety concerns associated with carrying physical cash, ensuring that the money is securely transferred.
Stellar, a finance blockchain-based solution platform, recently announced the partnership between Félix and Bitso, praising the duo for their efforts in bringing reliable, cost-effective, and secure cross-border payments solutions to the masses. The platform is set to revolutionize the way people send money abroad, making the process easier, faster, and safer.