Moving money between countries has become an everyday task  for businesses that want to expand and are constantly looking for solutions that allow them to connect  with other markets and send funds in an easy, quick and cost-effective way. 

In 2023, the total market volume of cross-border transactions in the world was 190.1 billion dollars, of which 39.3 billion corresponds to the B2B segment. By 2030, the total market volume is expected to reach 290.2 billion dollars and B2B will represent 56.1 billion; according to Statista. 

BlindPay platform has found a significant opportunity to empower Web3 companies and encourage those in Web2 to easily evolve, thanks to its API interface that enables connections and supports cross-border payments by using the technology of Bitso Business —Bitso’s B2B unit that provides the  infrastructure for the future of cross-border payments—. 

This payment processor enables businesses to send funds from one territory to another and uses the  Bitso Business infrastructure to connect them with local payment channels in a simple way and without  the need for deep technological knowledge, thus democratizing the use of this technology. 

“Since BlindPay was born, we have had in mind the mission of financially connecting the countries and  helping companies to transfer funds in a simple way and without intermediaries. Bitso Business has  played a crucial role in this first stage, as its technology is enabling us to connect with local banking  systems to achieve successful and fluid transfers,” mentioned Bernardo Simonassi, CEO and  developer of BlindPay. 

“Through traditional payment systems, these types of operations often involve difficulties due to  fragmented and incompatible banking systems around the world that require multiple intermediaries to  facilitate transactions, resulting in a costly, slow, and inefficient process for making global payments.  Additionally, businesses often have to pre-fund accounts in foreign currencies, costly tying up their  capital. As a regulated payment institution, we at Bitso Business are pleased to partner with companies  like BlindPay, allowing them to have efficient and secure access to local payment systems across Latin  America,” said Gabriele Zuliani, Director of Bitso Business. 

Although BlindPay started operations in July of this year, by September they had managed to double the monthly transaction volume; during this period, they have provided support to virtual and physical companies that need to send and receive money, which have been able to move their funds from the  United States to Brazil, as well as to some others that are in Europe or the United States and do not have payment rails that connect them to Latin America.