Bitcoin Exchange Bitso Trials New Canada-Mexico Remittance Service Stan Higgins - CoinDesk | |
go to original March 13, 2017 |
Exploring Bitcoin digital currency (Journeyman Pictures)
Mexican bitcoin exchange Bitso has been working with Canadian payments startup Paycase to create a new remittance corridor between the two countries.
Bitso, which raised $2.5m in new funding last September, said it has been working with Paycase to send funds from bank accounts in Canada to others in Mexico.
In one instance, the firms said today, a fiat currency micropayment was sent from a Canadian bank to Paycase before it was transmitted to Bitso using bitcoin, before finally settling as fiat in a Mexican bank account. According to the startups, the entire process took roughly three minutes to complete.
Pablo Gonzalez, Bitso’s chief executive, said:
"We believe in the power of bitcoin as a rail to make financial services more competitive and create financial inclusion in markets such as Mexico."
While they did not provide an indication of when the service might go live, the two companies framed the work in the context of economic turbulence in North America.
Read the rest at CoinDesk
Related: Bitcoin Became More Valuable Than Gold This Month. Why Does the Price Keep Rising? (Newsweek)
We invite you to add your charity or supporting organizations' news stories and coming events to PVAngels so we can share them with the world. Do it now!
From activities like hiking, swimming, bike riding and yoga, to restaurants offering healthy menus, Vallarta-Nayarit is the ideal place to continue - or start - your healthy lifestyle routine.