Crypto exchange Bitso, one of the largest exchanges in Latin America, along with Circle, the USDC issuer, works on a system of trans-border transactions between Mexico and the USA.

The goal of the project is to create conditions for a convenient and swift money exchange between companies and individuals of the USA and Mexico. These transactions are supposed to deal with a number of the problems that exist now, which are: limits for transactions, high operation costs, and delays, which are characteristic of the banking system.


The new instrument, named Bitso Shift, uses crypto to operate cheap and swift trans-border payments that are available 24/7 and help people exchange Mexican pesos to USD Coin stablecoins that are supported by the US Dollar. According to their press release, payment transactions with Bitso Shift are performed within 24-48 hours. All transactions are operated by fully regulated financial institutions.


According to the World Bank, in 2020, the volume of transactions between the USA and Mexico grew by almost 10% and reached nearly 43 billion USD. There are many Mexican ex-pats in the USA who regularly send money back home. However, many country residents have no access to USD accounts.


And since the trans-border exchange between the USA and Mexico is believed to be the world's largest exchange corridor, the Circle and USDC see it as a great opportunity; Jeremy Allaire, the Circle CEO, agreed to that saying: "We are happy to join the Bitso Shift initiative that demonstrates that the blockchain technology can lead the world to high-scale, effective and profitable solutions."


As you see, cryptocurrencies can help people solve their problems quickly and effectively, the problems that were there for decades and couldn't change because of the complexity and monstrosity of the standard financial system. What do you think, dear forum users, would you like to use quick and cheap transactions with stablecoins?