Bitso Business, the B2B arm of cross-bored payments infrastructure firm Bitso, and BVNK, the global stablecoin payments provider, have announced a new partnership to help institutions across the globe expand to new markets, especially Latin America (LatAm) and Europe.
As part of the alliance, BVNK is using Bitso Business’ local payments infrastructure to enable its clients to make payouts in LatAm.
In addition, Bitso Business is leveraging BVNK’s platform to allow companies worldwide to make international transfers, powered by stablecoins.
For Bitso customers, this means they will be able to send and receive payments from clients, platforms, and partners globally, with no need for an international bank account, says the company.
It also means faster international settlement powered by stablecoins and no manual stablecoin conversion.
Nano Rodriguez, head of strategic alliances at Bitso, says: “Our mission has always been to make financial services more efficient and accessible across Latin America.
“We're proud to help empower BVNK clients to access the Latin America market with efficient, safe, and compliant local payments solutions, and happy to embed BVNK’s stablecoin infrastructure to give our clients a faster, simpler way to make international transfers.”
BVNK provides Bitso with the virtual accounts for incoming international transfers, real-time conversion from fiat to stablecoins, wallet infrastructure to credit balances instantly, and access to Single Euro Payments Area infrastructure for transfers in Europe.
Bitso Business handles the final leg, giving customers flexible access to local currencies, all from within the Bitso Business platform.
Jonathan Lavieri, managing director, LatAm at BVNK, adds: “Bitso Business is making it dramatically easier for businesses in Latin America to make international transfers and access those funds nearly instantly.
“We’re proud to provide the infrastructure that powers that experience, and excited to benefit from their best-in-class local payments infrastructure to enable BVNK clients to receive payments in Latin America.”
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