Bitso is launching crypto transfers between Canada and Mexico in partnership with Africhange.
With this partnership, money transfers between Canada and Mexico will be facilitated using crypto technologies.
Bitso Partners With Africhange
Bitso has partnered with Africhange, a transfer system between Africa and Canada. Africhange will enable the establishment of a similar corridor between Mexico and Canada, just like the corridor between Africa and Canada.
The collaboration came about as Mexican immigration to Canada increased. According to the data, the amount of remittances from Canada to Mexico has exceeded 140 million dollars. The aim of the partnership is to reduce transaction costs.
Bitso has previously partnered with Ripple for cross-border payments.
Africhange executives said it didn’t take long to choose a partner in the region.
Africhange, which has sent $ 70 million from Nigeria to Canada, has also accelerated its partnerships to expand to more countries.
Crypto exchange Bitso is Ripple’s ODL corridor in the region. XRP accounts for 60% of the exchange’s trading volume.
The partnership with Africhange may also result in XRP finding more use in the near future.
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