Bitso, a leading crypto-powered financial services platform in Latin America, has launched its new eFX with Crypto service, providing businesses with a streamlined way to conduct international transactions. This innovative solution offers faster, more secure, and cost-effective cross-border payments, all while adhering to Brazil’s regulatory requirements.
The eFX service allows companies to complete foreign exchange transactions using stablecoins without the need for a local subsidiary. By combining stablecoins with the necessary exchange registration processes, this service provides a seamless gateway for international businesses looking to expand in Brazil. One of the standout features is same-day transaction delivery, cutting processing times by 50% to 75%.
Brazil has consistently ranked in the top ten of the Global Cryptocurrency Adoption Index, with stablecoins like Tether (USDT) surpassing Bitcoin in transaction volume, reaching over $55 billion since 2019. Bitso’s new service meets the growing demand for digital currency solutions in the region.
Digital companies globally are turning to stablecoins to enhance their reach but often encounter regulatory challenges. Bitso’s eFX with Crypto simplifies this by enabling Brazilian Real transactions for international payments and unifying remittance processes through API integration. This technology provides a cost-effective alternative to traditional banking methods, helping businesses manage cash flow and payments more efficiently.
“We’re excited to offer a solution that addresses the needs of companies using stablecoins to pay employees and suppliers. Our eFX with Crypto simplifies the process, boosting opportunities for businesses in Brazil,” said Thales Freitas, CEO of Bitso Brasil.
The eFX with Crypto service offers several key benefits: instant cross-border payments, reduced transaction costs, enhanced security and traceability, seamless API integration, and full compliance with local regulations, making it an ideal choice for companies looking to streamline operations in the Brazilian market.
