Bitso Business —the B2B arm of Bitso that provides the infrastructure  for efficient and transparent cross-border payments— announces the launch of Euro Ramps: a transfers  solution that allows businesses to make and receive payments across 39 countries through SEPA (Single  Euro Payments Area). The new European corridor adds to the five markets where Bitso Business already  offers regulated connection to local payments systems: US, Mexico, Argentina, Brazil and Colombia. 

The new service aims to streamline cross-border payments by leveraging the advantages of stablecoins  to enable companies to seamlessly send and receive funds in Euros, benefiting from greater speed, cost efficiency and transparency. 

In the first half of 2024, the euro area reported a total of 72.1 billion non-cash payment transactions,  amounting to €113.5 trillion. SEPA has a critical role in the European financial market, facilitating a  substantial portion of non-cash payments across the region. By unifying the support of transactions  through SEPA with Bitso Business’ cross-border payments capabilities for clients worldwide, companies  will be able to connect their business with Europe’s financial network in the most efficient way. 

“The integration of SEPA capabilities is opening the door for Latin America companies to enter the  European market seamlessly connecting with 39 SEPA-using countries. It also enables European  businesses who want to expand their business to Latin America to efficiently move money cross-border,  with transparency, reliability, and in a compliant manner”, explained Gabriele Zuliani, Executive Director  of Bitso Business. 

Bitso Business’ new Euro solution will provide faster settlements compared to traditional financial  institutions, competitive rates, and it will be available through both API and a dashboard. The API  integration is aimed for businesses seeking automated and scalable solutions, with seamless integration  into the existing systems of their clients. The dashboard solution is focused more on clients who want to  manage transfers without the need for technical integration.  

Bitso Business has been providing an efficient way for global companies to execute cross-border  payments supported by local ramps such as PIX in Brazil and SPEI in Mexico. The addition of the Euro  Ramps through SEPA Credit Transfers will now enable institutions to transact between Latin America and  Europe with speed, transparency and cost-efficiency.