DALLAS, TX / ACCESSWIRE / December 11, 2024 / TruBit, Latin America’s leading crypto payment platform, is thrilled to announce a strategic partnership with Bridge, a global money movement platform built on stablecoins. This collaboration marks a significant milestone in revolutionizing cross-border payments between the United States and Latin America, introducing a seamless, low-cost, and efficient US-LATAM payment ramp to address financial challenges.
As the stablecoin market reaches $150 billion in market capitalization in 2024 (up from $15 million in 2017, according to Forbes), stablecoins have become essential for cost-effective transactions. The alliance between TruBit and Bridge reduces transaction costs to as low as 1%, a stark contrast to the typical 5-10% fees charged by banks (Deloitte). This cost-efficiency significantly enhances the operational viability of cross-border payments.
“Through our partnership with Bridge, we have successfully created a seamless connection between the U.S. and LATAM, enabling businesses and individuals to transfer and pay across borders quickly and affordably. This collaboration significantly reduces costs and achieves near-instant settlement in international transactions, transforming how cross-border payments are conducted and delivering tangible value to our customers.”, states Maggie Wu, CEO and Co-Founder of TruBit.
“We’re excited to partner with TruBit. We’re using stablecoins to deliver faster transaction settlement and dramatically lower transaction costs for end consumers. This partnership underscores our shared commitment to delivering scalable, efficient financial infrastructure for businesses operating across borders,” mentioned Zach Abrams, CEO and Co-Founder of Bridge.
The TruBit and Bridge collaboration strengthens cross-border financial flows between the U.S. and LATAM, empowering businesses and individuals to manage cash flow effectively and remain competitive in a globalized market. Entrepreneurs like Belén, a design business owner in LATAM, exemplify this impact. Before adopting TruBit and Bridge, she faced payment delays of up to five days and high international fees. “TruBit helped me reduce payment times to same-day and cut fees by 80%,” she shares. Now, she effortlessly collects payments from clients in Europe and the U.S. while paying suppliers in LATAM, improving her cash flow and operational efficiency.
The US-LATAM payment ramp leverages API integration and both companies’ fiat and crypto on-and-off ramp infrastructures to deliver secure, efficient, and low-cost transactions. Together, TruBit and Bridge are transforming international payments, fostering a more inclusive and interconnected global financial ecosystem.
About TruBit
TruBit, established in LATAM in 2020, is a comprehensive global crypto platform built on two core pillars: payments and trading. At its forefront is TruBit Business, delivering compliant cross-border payment solutions that seamlessly integrate fiat and crypto for businesses. For trading, TruBit Pro provides advanced tools for experienced traders, while the TruBit Wallet supports easy conversion and Earn+ features. The Mastercard TruBit card enables convenient crypto spending.
As a pioneer in compliant fiat on-and-off ramp services, TruBit operates in key LATAM markets like Mexico, Argentina, Brazil, Colombia, Chile, and Peru, with a growing footprint in the U.S., Hong Kong, and Europe. Its commitment to regulatory compliance, security, and innovation empowers businesses and users worldwide, bridging the gap between fiat and crypto through seamless trading, remittance, and payment services.
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SOURCE: TruBit
