Latest news with #ISO20022-compliant
Yahoo
02-06-2025
- Business
- Yahoo
XDC Network, Bitso Business tie up to support US-Mexico remittances
The XDC Network has joined forces with Bitso Business to establish a blockchain remittance corridor aimed at enhancing payment transactions between the US and Mexico. The initiative is expected to utilise blockchain technology to facilitate 'near-instant payments'. This collaboration integrates the XDC Network's ISO 20022-compatible blockchain infrastructure with Bitso Business' fiat conversion services in Latin America. The remittance corridor is designed to offer a alternative to conventional payment methods in the region. The partnership aims to offer low cost remittances, with transactions settling in mere seconds at 'minimal' fees, the company said. It also supports multiple currencies, enabling swift USD to MXN conversions through Bitso's liquidity channels in Latin America. The service is tailored for SMEs, fintechs, and institutions that require efficient payment solutions for international suppliers or payroll. Conforming to ISO 20022-compliant messaging standards, the payment rail is compatible with existing banking systems and regulated entities, in line with XDC's objective to enhance adoption in emerging markets. With over ten years of operational experience, Bitso's APIs and regulatory connections across Latin America expected to add 'interoperability' to the XDC Network. XDC Network Ecosystem Development Amitava Mandal said: "This partnership with Bitso Business marks a major leap toward our mission of bridging traditional finance with blockchain efficiency. Together, we're delivering faster, fairer cross-border transfers that solve real-world challenges in global remittances and SME trade." The XDC Network is an EVM-compatible blockchain focused on tokenising real-world assets, digitising trade finance, and providing infrastructure for cross-border settlements. Bitso Business, meanwhile, offers services including Pay-ins and Payouts in Latin America, Cross-Border payments, as well as Trading and OTC services. "XDC Network, Bitso Business tie up to support US-Mexico remittances " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Associated Press
10-04-2025
- Business
- Associated Press
XDC-to-Fiat Off-ramp Now Live on XDC.Cash, Powered by Encryptus
XDC Network continues to strengthen its ecosystem with the launch of a Next-Generation Crypto Payment Solution powered by Encryptus. XDC holders can now convert their tokens into local currencies and alternative payment methods (APMs) across 100+ countries, making real-world utility more accessible than ever. Effortless XDC Off-Ramping Across the Globe Using Encryptus' wide-ranging global and local payment networks on XDC holders now have a gateway to a wide range of fiat currencies supported by Encryptus like EUR, VND, PHP, NGN, BRL, and 70+ fiat currencies. Users can also choose from multiple payout methods such as bank transfers, gift cards, e-wallets, and mobile top-up options (data and minutes). The available methods vary depending on the user's location and banking options. This integration ensures competitive, near-interbank rates—especially in frontier markets where traditional financial services often fall short. Powered by XDC2.0 and ISO 20022 Compliance With the recent launch of XDC2.0, the network now offers a 3-block finality, settling transactions in 3 to 4 seconds. This upgrade enhances payment reliability and speed, making it particularly attractive for fintech applications and payment service providers looking to build on fast, low-cost infrastructure. XDC Network is ISO 20022-compliant, aligning with the global messaging standard. ISO 20022 is an international standard for electronic data interchange between financial institutions. It enables richer, structured, and more secure messaging for payments, clearing, and settlements. Being ISO 20022-compliant gives XDC a key edge in interoperability with traditional financial infrastructure — making it easier for banks, payment providers, and enterprise platforms to adopt blockchain-based solutions without reinventing the wheel. Expansion Plan Wallets, DeFi, and Other DApps Looking ahead, and Encryptus aim to integrate off-ramp solutions into leading wallets, DeFi platforms, and DApps—allowing users to convert XDC to fiat without leaving their preferred interfaces. Wallet providers, DeFi protocols, and fintech platforms can integrate Encryptus' widget or API-based solutions to offer their users a seamless fiat off-ramping experience. Seamless Crypto On-Ramp Encryptus is advancing its technological infrastructure to introduce a global on-ramp, enabling users across 22 selected countries in Asia, Africa, and LATAM to seamlessly acquire XDC, USDA, BTC, ADA, and other supported digital assets. This enhancement will facilitate cryptocurrency purchases through local wallets and bank transfers, eliminating reliance on debit and credit cards. USDA stablecoin on XDC Network USDA is fully backed by dollars and dollar equivalents and is a stablecoin native to Cardano. XDC Network is exploring collaboration to leverage its blockchain expertise and extensive partner network to support USDA's seamless integration across multiple financial platforms and services. About is a dedicated off-ramp solution for the XDC ecosystem, offering secure and straightforward XDC-to-fiat conversion services. Built on the XDC Network and powered by Encryptus, a crypto<>fiat infrastructure, the platform is designed to serve individual users and businesses across the globe with compliant, fast, and user-friendly payout options. Learn more at About Encryptus Founded in 2021, Encryptus revolutionized cryptocurrency transactions for high-volume players by ensuring compliance, liquidity, and efficient pay-ins and pay-outs. With a European license and VASP status in Lithuania, Encryptus has built one of the industry's largest off-ramp infrastructures, spanning 80+ countries and 41 currencies. For more information, users can visit About XDC Network XDC Network is a pioneering, carbon-neutral, and EVM-compatible Layer 1 blockchain that has been live since 2019. It is renowned for its enterprise-grade capabilities, including Real World Asset (RWA) tokenization, TradeFinance, and DePIN applications. Leveraging a unique XinFin Delegated Proof of Stake (XDPoS) consensus mechanism, it achieves remarkable transaction speeds of 2 seconds and over 2000 TPS, with minimal gas fees (around $0.0001). Contact
