AstroPay expands multicurrency wallet to Latin American countries

GlobalData

Wed, Mar 26, 2025, 4:03 AM 1 min read

Fintech institution AstroPay has expanded its multicurrency wallet to respective Latin American countries, including Colombia, Brazil, Argentina, Peru, and Chile.

The determination aims to alteration integer workers and planetary travellers crossed the portion to send, receive, and walk wealth much rapidly and astatine a little cost, bypassing the accepted banking systems, the institution said.

The company's attack involves nonstop licencing, forming partnerships with fiscal institutions, and leveraging planetary regulatory frameworks to alteration planetary transactions.

This allows individuals and businesses successful Latin America to negociate their finances with retention and conversion features, receiving and withdrawing planetary payments.

The institution claims that the wallet provides little transaction costs compared to accepted fiscal services, arsenic good arsenic “competitive speech rates”.

Moreover, the enlargement is expected to assistance businesses successful exploring caller markets and refining their fiscal strategies, the institution noted.

AstroPay CEO Marc Sacal said: “Latin America welcomes millions of visitors each twelvemonth – tourists, distant workers, and integer nomads – each of whom request an intuitive, digital-first mode to wage similar locals. At the aforesaid time, the region’s online workforce is expanding rapidly, with much radical earning income from overseas than ever before.

“Traditional banking systems weren’t built for this reality. Our multicurrency wallet bridges this gap, giving users a fast, low-cost mode to person and walk wealth crossed borders – without the accustomed friction.”

In January, AstroPay secured a Payment Institution (PI) licence from the Central Bank of Brazil to widen its fiscal services to Brazilian users and businesses.