Aptos and Bitso Partner For LATAM Stablecoin Settlement

Aptos has entered a partnership with Bitso to enable faster stablecoin settlement for millions of users in the LATAM region, according to FFNews.

The large fintech provider is doubling down on the prevalence of blockchain technology and more specifically, the role that stablecoins will play in local and cross-border money transfers. The layer 1 blockchain will allow around 9 million Bitso users to settle funds in top stablecoins, such as USDC and USDT. Aptos has over 215 active projects being built on the network, including novel solutions specifically for stablecoins, such as integrations with Orbital Pay and Ondo.

Ben Reid, head of stablecoins at Bitso, exoressed:

“As we continue expanding our services across Latin America, partnering with high-performance  blockchains like Aptos ensures our customers get access to the most advanced digital asset infrastructures  and fastest-growing DeFi ecosystems available.”

Earlier in the month, Bitso had revealed that the most prevalent utility it expects stablecoins to assist in is allowing local residents across inflation-prone nations like Mexico, Argentina, Columbia, and Brazil the ability to preserve individual savings as their sovereign fiat currencies are losing value and overall purchasing power compared to the U.S. dollar. Second on the list referred to accepting international remittances, especially in countries like Brazil and Mexico.

Note: This is intended for informational purposes only and does not in any way constitute or solicit financial, professional, or legal advice. Readers should conduct due diligence at all times.

This article has been partly researched and aggregated with the help of AI and does not pertain to be an exclusive story. For specific media and public information referenced, please find it below.

Source(s): https://ffnews.com/newsarticle/cryptocurrency/aptos-foundation-and-bitso-partnership-enhances-instant-stablecoin-transfers-to-latin-america/

https://aptosfoundation.org/ecosystem/projects/stablecoins

https://blog.bitso.com/stablecoin-in-latin-america/