Bitso, the leading financial services platform powered by crypto in Latin  America, today announced the launch of a new feature that enables users in Mexico and Argentina to  send and receive U.S. dollars directly from the United States via ACH or Wire transfers. The service offers  a virtual U.S. bank account at no cost and aims to simplify access to cross-border financial flows. 

With this new feature, Bitso users can now: 

● Create a U.S. dollar receiving account. 

● Send and receive funds via ACH ($2.99 USD flat fee) or Wire ($11.99 USD + 0.17%). ● Hold their balances in Digital Dollars (USDC) with the potential to earn up to 4% annually. ● Convert USD to local currency and withdraw with no fees to local bank accounts. 

Transfers via ACH typically arrive within 1–3 business days, while wire transfers are generally credited by  the next business day. 

“With this new service, Bitso provides a practical and affordable solution for customers in Latin America  who need reliable access to U.S. dollars. Now, customers can send and receive U.S. dollars and protect  those dollars against inflation and FX risk by enrolling them in our Earnings product,” said Ximena Salgado,  VP of Product at Bitso. “It reflects our goal of building inclusive financial infrastructure that gives individuals  access to global capital in a secure, simple, and cost-effective way, so they can make the most of their  finances.” 

This service is designed with use cases in mind such as: 

● Freelancers and digital professionals receiving payments from global platforms.

● People sending tuition or support funds to US-based accounts. 

● Investors seeking to diversify in digital dollars and earn yields. 

● Individuals looking for an alternative to traditional remittance services. 

Remittances play a significant role in the economies of Latin America. In 2024, remittance flows to Latin  America and the Caribbean are projected to reach approximately $160.9 billion, marking a 5% increase  from the previous year. Mexico remains the largest recipient in the region, with remittances expected to  total around $65.1 billion, accounting for 40.5% of the region's total remittance inflows.1 

Also, In the first quarter of 2025, Mexico sent approximately $115 million USD in remittances to the United  States. In 2024, Mexico's total outbound amounted to $1.308 billion USD, marking a 21.6% increase compared to the previous year.2 

The new service is currently available in Mexico and Argentina. Users can access the feature by opening  the Bitso app, selecting "Deposit USD from the USA" under the Deposits menu, and following the setup  process. Once active, users will be able to view their U.S. account details and initiate transfers. The service  also allows for USD withdrawals to U.S. accounts from the Bitso app under the Withdrawals menu. 

Bitso is closely monitoring legislative discussions in the United States regarding a proposed 3.5% tax on  remittances sent abroad. While the specific impact on services like Bitso's new feature remains uncertain,  the company has expressed its position in a recent statement: 

“We join the FinTech Mexico Association in rejecting this initiative, which we believe represents a setback  in financial inclusion. Our focus remains on offering stability and efficiency in cross-border transactions, and  we are committed to maintaining compliance with applicable regulations and providing secure services to  our users across all jurisdictions.”