Mexican Platform MexBT Decreases Transferences Cost Between Companies
The Mexican economy stimulation has introduced several mechanisms in order that this will be consolidated and give place to new financial exchange strategies. Azteca region in economic activity is substantially supported by the quality of services but we must not leave aside the industrial sector which affects mainly its growth.
Dependent factors of the cash flow such as imports and exports characterize the economic sector in general. The payment of these components must be accompanied by high security levels while running each of the corresponding transactions in the shortest time and of course a low cost for commisions.
As it is known, technology linked to blockchain and bitcoin facilitates this task and significantly reduces what a company pays for this service.
The MexBT platform which has Mexican origin allows users to sell, buy or exchange bitcoins and recently it has focused on the cash transferences between companies known in this way as B2B (bussines to bussines), most of its funding has been set with Asian funds particularly in Singapore where the fintech topic is more developed.
The transaction from one bank to another is a slow process but with new technologies users began to save time and money. Therefore, MexBT decided to focus on the currency tranferences in emerging markets.
Ricardo Gamba MexBT technology director said the following about transferences between Mexico and Singapore, “Transferences from Mexico to Singapore take a long time, you can get to the other day and the commission cost is very high. We do the transference in less than 24 hours with a preferential exchange rate which is less than what the bank gets and our commision is much lower. The customer can save 70 to 80% compared to what you would pay if it is a banking mechanism.
MexBT can use its technology for sending collecting remittances their aim with transactions from one company to another for example a small trader who purchase a product in China for marketing in Mexico.
It’s important to say that trade activities between Mexico and Singapore have been advancing considerably due to the signing of a treaty called the Transpacific partnership treaty TPT for its acronym in English as agreed between the governmental authorities that also includes countries such as Australia, Canada, Chile, United States, Malaysia, New Zealand, Peru, Mexico and Vietnam, according to Forbes.
Source: El Empresario
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