This week, meXBT will present Pay.meXBT, its new payment platform for emerging economies, at Money 20/20, 2015, one of the most important global events for financial innovation.
Pay.MEXBT is a new platform for international payments that will facilitate international payments between Latin America and Asia, cementing meXBT’s position at forefront of digital financial solutions in emerging markets. The new platform allows payment in fiat currency from one country to another in a matter of minutes, leveraging Bitcoin and the blockchain.
“The opening of this new platform will have a positive impact on trade between Mexico and other countries, offering more business options for the Pymes and Transnational,” said Gabriel Mirón, CEO of meXBT.
A key component of the platform is underlying technology developed by New York-based AlphaPoint. “All too often, businesses and individuals in emerging markets face excessive fees and outdated settlement times when sending money abroad,” said Joe Ventura, AlphaPoint Founder & CEO. “We’re thrilled to see our members connect across the platform to create new, high-efficiency payment corridors to address this problem.”
In addition to Mexico, the new service, allows payment in local currencies for Brazil, Singapore, China, and Indonesia. "We are looking to speed up payment processes and remove the risk and delay often involved in FX conversion - for example, you can pay in MXN and your counterpart will receives the equivalent in CNY in real-time,” said Joel Cano, COO of meXBT.
The managers of meXBT will leverage their visit to Las Vegas, hosting investors and potential customers at Booth #2551.
Within the next 12-18 months, the company will continue to expand in Latin America and Asia. “Connecting emerging markets in Asia and Latin America presents one of the most important and pressing applications for blockchain technology,” said Mirón, “and we are very excited to be at the forefront of these efforts.”
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