Core LatAm banking service provider Bantotal enters a partnership with Bitex crypto exchange to streamline cross-border payments through the Bitcoin blockchain ecosystem.
The collaboration is intended to revamp the way cross-border payments are facilitated, using Bitext crypto exchange as "a middleman for national and regional banks." It is essentially identified as a type of conversion-based "peer-to-peer banking." The benefits of such a partnership extend to "accessibility of Bitex services for Latin American consumers," ultimately giving them access to blockchain technology, as well as a "contribution to the national GDP's growth" of the countries where it is implemented.
The Bantotal x Bitex cross-border payment system will be available to Bantotal clients through the provider's BDevelopers program. In addition, facilitated access to API for banks will ensure the financial institutions have control over the converting procedure.
Photo Credits: Bantotal/ LinkedIn