Bitcoin Digital Bank Transfers Can Breach the Wall Between the US and Mexico Frisco d'Anconia - CoinTelegraph
go to original January 13, 2017

Bitcoin keeps transforming lives and economic activities around the globe on a diurnal basis. The latest solution is an instantaneous bank transfer from the United States to Mexico using Satoshis at the cost of two percent.

William Madden, CEO of Bridge21 told the Cointelegraph in an interview that, "Speed of delivery varies based on the sending and receiving countries, but the transaction is generally completed in minutes during regular banking hours, and often in seconds."



With a platform connected to exchanges in different countries, when a customer sends funds, it is deducted from his bank account in the sending country. Then Bitcoins are bought in the sending currency, and simultaneously Bitcoin is sold in the receiving currency, and then funds are deposited in the recipient's bank account.

This innovative financial transaction service stemming from mighty Bitcoin beats traditional bank wires in every sphere. It basically eliminates hidden exchange rate fluctuation charges, transfer fees and duration the funds will take to get to its final destination.

Explaining further, Madden stated that the intent is to send money across the globe as we communicate with anyone around the world today. In an analogy, the remittances expert said, it is faster and cheaper to physically mail money to someone in another country than it is to send electronically.



Madden says:

"Businesses and individuals will come to expect this type of performance in the future, just like they do today with information. We see a demand for these services coming from places we did not expect, from international emergency payments to the underserved country to country corridors that are underserved today by traditional remittance companies."

Read the rest at CoinTelegraph

Related: New Bitcoin Promotional Effort Will Target Mexican Shop Owners In Tijuana (Live Bitcoin News)

We invite you to add your charity or supporting organizations' news stories and coming events to PVAngels so we can share them with the world. Do it now!