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Country: Chile
Year: 2015

BitNexo allows SMBs to remit funds between China and Latin America quickly, securely and with low fees. The service uses Bitcoin as a payment channel and delivers the money to bank accounts in either country. The customers never have to purchase, store, or manage Bitcoin.

Concept

  • Small and medium businesses account for $2 trillion in cross border commerce each year, yet pay the highest transfer fees compared to larger institutions.
  • SMBs often lack access to advanced financial tools, and pay their expenses in their home currencies, suffering higher cross border payment costs from multiple currency conversions and intermediary bank fees.
  • BitNexo is a web platform and software provider that helps cross-border SMB commerce providers pay for goods and services between Asia and Latin America quickly and securely, and with low fees by using blockchain technology.
  • Bitnexo manages the technological and financial knowhow of Bitcoin to offer a simple solution to cross border SMBs so a company can pay its overseas provider using its home currency and banking system. The customers never have to purchase, store, or manage bitcoin.

Consumer Benefits

  • SMBs benefit from quicker cross-border remittances between China and Latin America with lower fees.
  • Customers do not have to purchase, store, or manage Bitcoin at all.

How to use it

Bitnexo_demo

  1. SMBs enquire for a remittance quote on Bitnexo.com
  2. Enter recipient information (name, bank and account information)
  3. Pay via local currency and banking system.

 

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