Bitso, a significant associate of Ripple and an ODL corridor, has announced its partnership with Africhange, a Canadian-African remittance company. The partnership should make it easier and faster for people in Canada and Mexico, where Bitso is based, to send and receive money using cryptocurrency.
The tendency of Mexicans to migrate to other countries in North America prompted the collaboration between the two businesses. According to the source, more than $140 million was remitted from Canada to Mexico. The partnership should significantly reduce end-sender costs while also streamlining the entire transaction chain.
Given Bitso’s expertise in cross-border payments and its close relationship with Ripple, Africhange officials claimed it did not take long to find a new partner in the area.
This appears to be another example of seamless collaboration. Africhange, which already has a turnover worth $70 million from Nigeria to Canada, is expanding into a new continent. On the other hand, Bitso sees an opportunity to boost its revenue and support its citizens living abroad.
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