The XDC Network has joined forces with the BITSO business to create a blockchain remittance corridor designed to enhance payment transactions between the United States and Mexico.

The program is expected to leverage blockchain technology to facilitate "near-standard payments."

This collaboration integrates the ISO 20022-compatible blockchain infrastructure of XDC Network with Bitso Business's FIAT conversion service in Latin America.

The remittance corridor is designed to provide an alternative to regular payment methods in the area.

The company said the partnership is designed to provide low-cost remittances, while transactions settled at "lowest" fees in just a few seconds.

It also supports multiple currencies, enabling Swift USD to convert MXN through Bitso's liquidity channel in Latin America.

The service is tailored to small and medium-sized businesses, fintechs and institutions that require an effective international supplier or payroll.

Comply with ISO 20022 compliant messaging standards, Payment Railway is compatible with existing banking systems and specification entities, which is in line with XDC's objectives to enhance adoption in emerging markets.

With more than a decade of operational experience, BITSO's API and regulatory links in Latin America are expected to add "interoperability" to the XDC network.

"The partnership with the Bitso business marks our journey toward our mission to bridge traditional finance with blockchain efficiency. Together, we provide faster and equitable cross-border transfers to address real-world challenges in global remittances and SME trade."

The XDC Network is an EVM-compatible blockchain focused on token real-world assets, digital trade financing, and infrastructure for cross-border settlements.

Meanwhile, Bitso Business provides services, including payment and expenditure in Latin America, cross-border payments, and transactions and OTC services.

"XDC Network, BITSO Business Combined to Support US-MEXICO Remittances" was originally created and published by Electronic Payments International, owned by GlobalData.

The information on this website is included in sincerity only for general information purposes. It is not intended to rely on the advice you should rely on, and we do not provide any representation, warranty or warranty that express or imply its accuracy or completeness. You must take or avoid any action based on the content on our website to obtain professional or professional advice.