• The new service enables businesses to seamlessly send and receive funds using USDC and euros
• It will facilitate cross-border payments to 39 SEPA-using countries, and also enable European companies to enter Latin America market

Bitso Business —the B2B arm of Bitso that provides infrastructure for efficient and transparent cross-border payments— announces the launch of Euro Ramps: a transfers solution that allows businesses to make and receive payments across 39 countries through SEPA (Single Euro Payments Area). The new European corridor adds to the five markets where Bitso Business already offers regulated connection to local payments systems: US, Mexico, Argentina, Brazil and Colombia.

The new service aims to streamline cross-border payments by leveraging the advantages of stablecoins to enable companies to seamlessly send and receive funds in Euros, benefiting from greater speed, cost-efficiency and transparency.

In the first half of 2024, the euro area reported a total of 72.1 billion non-cash payment transactions, amounting to €113.5 trillion. SEPA has a critical role in the European financial market, facilitating a substantial portion of non-cash payments across the region. By unifying the support of transactions through SEPA with Bitso Business’ cross-border payments capabilities for clients worldwide, companies will have an unique opportunity to connect their business with Europe’s financial network in the most efficient way.

“The integration of SEPA capabilities is opening the door for Latin America companies to enter the European market seamlessly connecting with 39 SEPA-using countries. It also enables European businesses who want to expand their business to LatAm to efficiently move money crossborder, with transparency, reliability, and in a compliant manner”, explained Gabriele Zuliani, Executive Director of Bitso Business.

Bitso Business’ new Euro solution will provide faster settlements compared to traditional financial institutions, competitive rates, and it will be available through both API and a dashboard. The API integration is aimed for businesses seeking automated and scalable solutions, with seamless integration into the existing systems of their clients. The dashboard solution is focused more towards clients who want to manage transfers without the need for technical integration. 

Bitso Business has been providing an efficient way for global companies to execute cross-border payments supported by local ramps such as PIX in Brazil and SPEI in Mexico. The addition of the Euro Ramps through SEPA Credit Transfers will now enable institutions to transact between Latin America and Europe with speed, transparency and cost-efficiency.