Micro, small, and medium enterprises (SMEs) in Latin America often face challenges when conducting international transactions. In response to this, digital wallet provider Belo has recently unveiled a web platform aimed at simplifying and expediting cross-border transactions for businesses in the region. This innovative solution not only offers free account creation for companies from 108 countries but also enables transactions in pesos and cryptocurrencies, as well as the convenient transfer of funds to foreign accounts. With these features, Belo aims to address the pain points experienced by SMEs in Latin America and promote seamless international trade.
Features of the Belo Web Platform
Belo’s new web platform brings a host of features to the table, helping businesses overcome transactional hurdles and optimize their cross-border operations. By offering free account creation for companies from 108 countries, Belo seeks to ensure that SMEs across Latin America can leverage its platform to expand their reach and engage in international trade effortlessly. Moreover, the integration of popular cryptocurrencies enables businesses to embrace digital currencies, ensuring secure and swift transactions on a global scale.
To simplify and expedite the process of sending money abroad, Belo offers an array of innovative tools. The introduction of ACH transfer functionality further streamlines the transaction process, enabling businesses to send and receive payments efficiently. Additionally, the platform allows for storing value and charging for goods and services, providing SMEs with a comprehensive suite of financial tools tailored to their unique needs.
Expansion of Belo’s Services
In its commitment to facilitating international transactions, Belo is constantly enhancing its platform with new features. The recent addition of the Pix payment option, widely used in Brazil, showcases Belo’s dedication to offering localized solutions that resonate with businesses in different countries within Latin America. Furthermore, Belo has embraced the growing popularity of stablecoins, including USDC, USDT, and DAI. This addition enables businesses to convert their corporate funds into stable digital currencies, providing them with increased financial flexibility and mitigating volatility risks.
Strategic Investment in Rextie by Citi
In a significant development for the Latin American FX market, Rextie, the leading currency exchange platform in Peru, has received a strategic investment from Citi, a renowned global powerhouse in foreign exchange (FX) services. Citi’s investment in Rextie is a testament to the company’s capabilities and positions it as Latin America’s first FX FinTech to receive backing from such a prestigious financial institution.
This collaboration is poised to revolutionize currency exchange services in Latin America by seamlessly integrating Citi’s cutting-edge FX technology, bolstering Rextie’s existing suite of services. By leveraging Citi’s expertise and advanced FX capabilities, Rextie aims to provide businesses and individuals in Latin America with an unparalleled currency exchange experience that is fast, reliable, and cost-effective.
The introduction of Belo’s web platform signifies a major step forward in simplifying and optimizing cross-border transactions for SMEs in Latin America. With its comprehensive suite of features, including free account creation, support for cryptocurrencies, and innovative tools for efficient payments and value storage, Belo empowers businesses to engage in international trade seamlessly. Additionally, the strategic investment in Rextie by Citi not only elevates Rextie’s position in the market but also sets the stage for cutting-edge FX technology integration, enabling a superior currency exchange experience for businesses and individuals across Latin America.
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