Cryptocurrency Remittance Sent Through WhatsApp
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Co-founded by Bernardo Gracia, Felix Pago is the first ever chatbot in the world on WhatsApp that allows Latino immigrants in the United States to send remittances across borders.
Felix Pago utilizes blockchain and artificial intelligence to ease remittances, making it as easy as sending a chat message.
What is Felix Pago?
Felix Pago is an application that was designed to serve hard-working Latinos in the United States who want to provide financial assistance to their families in their home country. Artificial intelligence and the blockchain were used to make remittance as easy as sending messages on WhatsApp.
Felix Pago was designed to cater to Latinos on WhatsApp. This application helps them to save time and money when they are caring for their loved ones.
Where does Crypto come into the Operation of Felix Pago?
Felix Pago uses stablecoins to move customers’ money from the United States to Mexico. At first, Felix Pago’s chat will display the standard exchange rate of USD/MXN. Immediately after users make payments, the application will convert the money to stablecoins. The application then runs the trade in cryptocurrency to get the peso (Mexican currency) to the intended beneficiary.
What are the Benefits of Felix Pago to Business Since It Introduced Cryptocurrencies?
The introduction of crypto increases transaction speed and reduces costs. Traditional transborder transactions are done via normal routes such as “swift”. Normally, this takes time and is costly, making it inefficient.
What is the Future of Cryptocurrency This Year (2023) and Beyond?
We believe that cryptocurrency is heading towards powering all our daily activities, and we won’t even be aware of it. This is how Felix Pago functions. In the end, our concern and our customers’ concern is that their funds get to their intended destination at minimal cost and quickly.
