Latin American exchange Bitso launches a money transfer service with cryptocurrencies in Colombia
Latin American exchange Bitso has launched a money transfer service with cryptocurrencies in Colombia, the company announced on Thursday.
According to Bitso, the service, which allows individuals and companies to send and receive digital dollars, is the first cryptocurrency money transfer product in Colombia to date. At the moment, this feature will be available on the company's website, and in the near future it will be included in the mobile application, the company added.
"These transactions are not affected by volatility at all," said Emilio Pardo, in charge of Bitso in Colombia. "The price of the stablecoins that we use depends on the international currency market, on parity with the dollar, of great benefit for overcoming inflation."
Bitso aims to replicate the cryptocurrency money transfer service launched in 2021 in Mexico, which processed $1 billion in the first half of 2022. The company expects to double the volume of international transfers by the end of the year and process $4 billion by 2023. In 2021, Colombia received money transfers from abroad totaling $ 856 billion, according to the newspaper El Tiempo.
On the other hand, last year Colombians sent money transfers abroad totaling $380 million, which is 52.4% more than in 2020. The money sent to the United States reached $103 million, which is 102% more compared to the previous year.
https://coin-signal.com/cryptonews/latin-american-exchange-bitso-launches-a-money-transfer-service-with-cryptocurrencies-in-colombia/
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