Digital wallet Belo has launched a web platform to help businesses make cross-border transactions.
The introduction of this platform aims to address the challenges faced by micro, small, and medium enterprises (SMEs) in Latin America when conducting international transactions, according to the report by Contxto.
The initiative is set to allow companies from 108 countries to open a free account on Belo, enabling them to make transactions in pesos and cryptocurrencies and send dollars to foreign accounts.
Belo CEO and Co-founder Manuel Beaudroit said in the report that the company offers tools that simplify and expedite the process of sending money abroad.
The app offers a new ACH transfer functionality alongside existing options that allow businesses to store value and charge for goods and services.
Belo has also recently added the Pix payment option, a popular method in Brazil, and has allowed the conversion of corporate funds into stablecoins like USDC, USDT, or DAI.
In other FinTech news from Latin America, Rextie, the foremost currency exchange platform in Peru, has become the recipient of a strategic investment from Citi, a global powerhouse in the foreign exchange (FX) arena.
The investment catapults Rextie to the distinct honour of being Latin America’s inaugural FX FinTech to receive backing from one of the globe’s most eminent banks. This collaboration is set to usher in Citi’s cutting-edge FX technology, seamlessly integrating it within Rextie’s suite of currency exchange services.
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