## The Bitcoin Company Unveils New Remittance API

## Enabling Instant Cross-Border Payments to Mexico and Brazil

The Bitcoin Company, which provides ready-to-use, developer-focused solutions bridging Bitcoin and legacy banking rails, announced their new Remittances API, debuting in Mexico and Brazil, marking their global expansion into international remittances. They plan to extend their cross-border payments service from Mexico and Brazil into new markets and fiat currencies in the near future, including the USA, Canada, Europe, Asia, and Africa.

The new Remittance API enables any individual or financial institution to send instant payments to any bank account in Mexico and Brazil in under 1 second. The API is available for any financial application looking to integrate cross-border payments for their users.

The Bitcoin Company leverages the Bitcoin network to send money across borders instantly and communicates with local payment networks in Mexico (SPEI) and Brazil (Pix) to deposit funds instantly into a recipient’s bank account.

Brazil and Mexico are major markets that rely on cross-border payment inflows, typically provided by money transfer services like Western Union, MoneyGram, Xoom, and Transferwise which operate on top of slow and expensive legacy banking rails to move money across borders.

The World Bank reports that remittance payments to Mexico and Brazil cost 3.01% and 4.59%, respectively, with the average cost of an international remittance payment being 6.18%. The Bitcoin Company’s new Remittance API, which leverages the Bitcoin network for payments instead of traditional banking rails like SWIFT, allows any financial institution or platform to send these same cross-border payments for a fraction of the cost, instantly and 24/7. “Disrupting the remittance market is a key milestone in our roadmap to provide easy to use Bitcoin-native financial services and has always been a compelling application for the Bitcoin network," said Ben Price, Founder and CEO of The Bitcoin Company. "With Bitcoin, payments can be cheap, instant, inclusive, and global. Cross-border payments as they exist today are broken. Traditional remittance providers like Western Union are taking advantage of the world’s most desperate populations by charging exorbitantly high fees for sending/receiving money. Cross border payments are now trivial with our new Remittances API that leverages the Bitcoin network. Our plans include expanding to more regions and currencies to service both business and consumer payments. We’re so happy to help enable other developers to turn on low-cost, cross-border, instant payments in their applications with a simple API integration."

The Remittance API launch is part of The Bitcoin Company's broader vision to build easy-to-use, developer-friendly infrastructure connecting Bitcoin and legacy financial rails. They plan to release other infrastructure-focused payment, exchange, and rewards services in the near future.

More information about the new Global Remittance API and partnership opportunities can be found at [https://thebitcoincompany.com/remittances](https://thebitcoincompany.com/remittances).

About The Bitcoin Company

The Bitcoin Company is creating developer-focused solutions to integrate into everyday financial applications. With a vision to replace legacy financial rails with cheaper, faster, global, and interoperable Bitcoin payments, The Bitcoin Company offers on and off-ramps, Bitcoin reward solutions, and now remittance and cross-border payment infrastructure. Other financial services, such as global exchange services that have the capability to be integrated into any Bitcoin or traditional financial application, are coming soon. The Bitcoin Company will continue to release ready-to-use, developer-friendly API tools bridging Bitcoin with legacy financial rails.