By integrating Zero Hash’s infrastructure into Felix’s service, the startup will be able to control the user interface, while Zero Hash will handle the technical and regulatory issues. This includes converting U.S. dollars into USDC stablecoin, sending it instantly to global partners, who then convert it to local currency and transfer it to the recipient. This approach allows Felix to minimize costs and improve the speed of transactions.
Using stablecoins for international transfers is becoming an increasingly popular solution for those who have difficulty with traditional banking services. According to The Block, the market for stablecoins is already approaching $180 billion. Felix’s partnership with Zero Hash underscores the growing trend toward the use of digital assets in financial technology.
Felix is focused on helping Latinos living in the U.S. send money back home. The combination of familiar messenger and stablecoins helps increase the percentage of funds the recipient actually receives. As Felix co-founder and CEO Manuel Godoy noted, Zero Hash removes the technical complexities, allowing the startup to focus on improving the user experience.
Zero Hash, registered as a money transfer service with FinCen and licensed in 51 U.S. jurisdictions, provides its technology to third-party brokers, fintech companies and neobanks. Its customers include organizations such as MoneyLion, Wirex, Moonpay and others. The Zero Hash platform is actively backed by major venture capital funds, including Point72 Ventures and Bain Capital Ventures.
Author: Camila Russo is an experienced journalist with a strong focus on crypto news.
