A payment platform dLocal and U.S.-based fintech Félix have unveiled a new partnership enabling instant remittances funded by stablecoins through WhatsApp.

The collaboration leverages USD Coin (USDC), a digital stablecoin, to facilitate real-time payouts in local currencies across Mexico, Guatemala, Honduras, and El Salvador. By bypassing traditional banking delays, the system cuts settlement times from the typical next-day processing to just minutes, with tests showing deliveries often under two minutes and a success rate approaching 99%.

This innovation addresses longstanding challenges in the remittance sector, including high costs and unreliable timelines caused by legacy correspondent banking systems. Remittances play a vital role in Latin American economies, according to the World Bank, which estimates the global average cost to send $200 at 6.4%. In Honduras, for instance, remittances account for about 27% of GDP, while Mexico saw a record $64.745 billion in inflows in 2024.

"This collaboration addresses one of the biggest pain points in the remittance industry—the need for more cost-efficient and faster payments in emerging markets," said Martin Sapiurka, Head of Remittances at dLocal. "By working with Félix, we’re empowering them to offer real-time, seamless payments powered by stablecoins, transforming the overall payment experience and strengthening the infrastructure behind it."

The process is designed for simplicity: Senders initiate and complete transfers directly within WhatsApp, a platform already ubiquitous in daily life for many users. They specify the amount and recipient in a chat-based flow, fund the transfer using USDC, and dLocal handles the conversion to local currency before depositing funds into the recipient's bank account. Built-in Know-Your-Customer (KYC) and anti-money laundering (AML) controls ensure compliance, along with necessary cross-border reporting.

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https://www.dlocal.com/press-releases/dlocal-and-felix-launch-instant-stablecoin-funded-whatsapp-remittances-across-latin-america/?utm_campaign=Press&utm_content=355894692&utm_medium=social&utm_source=twitter&hss_channel=tw-827247033190801408