Summary
TLDR: The Bitcoin Company has introduced a new Remittances API for instant cross-border payments to Mexico and Brazil in under 1 second. The API aims to disrupt the costly traditional remittance market with low fees and plans to expand to more regions soon.
Key Points
1. The Bitcoin Company has unveiled its new Remittances API, allowing individuals and financial institutions to send instant payments to any bank account in Mexico and Brazil in under 1 second, with plans to expand services to other regions soon.
2. By leveraging the Bitcoin network, The Bitcoin Company’s Remittance API offers a cost-effective alternative to traditional banking rails like SWIFT, reducing international remittance costs significantly and providing low-cost, instant, and 24/7 cross-border payments.
3. The launch of the Remittances API aligns with The Bitcoin Company’s vision to provide easy-to-use, Bitcoin-native financial services and build developer-friendly infrastructure connecting Bitcoin with legacy financial systems, aiming to disrupt the costly and inefficient landscape of cross-border payments.