CHICAGO, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Felix, the chat-based platform that combines Stablecoins and AI to make remittances as easy as sending a WhatsApp, has partnered with Zero Hash, the leading crypto and stablecoin infrastructure platform. Leveraging Zero Hash's infrastructure that seamlessly connects fiat, crypto and stablecoins, with broad regulatory coverage (across 52 US jurisdictions), Felix now offers their simplified cross-border payments solution to more than 60 million US-based Latinos, who collectively send $150bn to their families every year.
In just two years, Felix has grown over 500x in payment volume helping hundreds of thousands of Latinos in the US sending money back home to family and friends. In May 2024, Félix Pago raised $15.5 million in Series A funding, and in 2023 they won a prestigious award from CrossTech: 'Fintech Making a Difference'.
Felix has identified a crucial need in the Latino immigrant community, where sending money back home using traditional methods is often a complex, slow and expensive process. By integrating their service with Whatsapp, an app used by 85% of Latinos, and using stablecoins to move money across borders 24/7/365 and in near real-time, Felix has created a user-friendly, more cost-efficient solution for sending remittances.
Through embedding Zero Hash's infrastructure natively into the Felix service, Felix is able to control the front end customer experience, while Zero Hash handles the end-to-end technical and regulatory compliant money movement on the back end; receiving and converting USD to USDC, and then sending to global partners instantly, who convert the USDC to the local currency, and send the funds to the receiver. Leveraging stablecoins offer a faster and more affordable way to remit money from the US to Mexico.
"One of the biggest indicators of our success is our NPS score of 90, which is more than double the typical score in the remittance industry. We're extremely proud of that number. It's a testament of our success in delivering user-friendly, efficient remittance solutions for the Latino community. By combining a familiar messaging application with stablecoin technology, we're not just transferring money - we're ensuring that more of the money that is sent goes to the recipient." said Manuel J Godoy, Co-Founder & CEO at Felix. " Zero Hash's seamless, connected and safe stablecoin infrastructure, abstracts the complexity for us, and means Felix can focus on building the best remittance experience, for the millions of Latinos sending money back home.”
"This remittance flow, powered by stablecoin technology as the 'network of networks', enables sender and receiver to operate in fiat, without having to interact with stablecoins,” said Edward Woodford, Founder and CEO of Zero Hash. "We have always believed that the adoption of crypto and stablecoins will happen when the technology moves from the foreground to the background, and are delighted that the partnership between Zero Hash and Felix achieves that; resulting in simple, instant, and cheap money transfers.”
About Felix
Félix is a chat-based platform that enables Latinos in the US to send money abroad. We combine Blockchain and Artificial Intelligence to disrupt how remittances are done today and build the future of cross-border payments.
Felix launched its services in the summer of 2022 and since then has supported hundreds of thousands of Latinos to send money back home in seconds and at a fraction of the cost of traditional methods. Felix has raised $20m+ in capital from investors including Castle Island Ventures, Switch Ventures, HTwenty, Contour and MELI Capital (the corporate VC of Mercado Libre)
About Zero Hash
Zero Hash is a B2B2C crypto-as-a-service infrastructure platform that allows any platform to embed digital assets natively into their own customer experience quickly and easily through a matter of API endpoints. Zero Hash's turnkey solution handles the entire backend complexity and regulatory licensing required to offer crypto products.
Zero Hash Holdings, through its subsidiaries, powers neo-banks, broker-dealers, payment groups as well as non-financial brands to offer crypto and stablecoin powered products.
Zero Hash Holdings is backed by investors, including Point72 Ventures, Bain Capital Ventures, and NYCA.
Zero Hash LLC is a FinCen-registered Money Service Business and a regulated Money Transmitter that can operate in 51 US jurisdictions. Zero Hash LLC and Zero Hash Liquidity Services LLC are licensed to engage in virtual currency business activity by the New York State Department of Financial Services. In Canada, Zero Hash LLC is registered as a Money Service Business with FINTRAC.
Zero Hash Australia Pty Ltd. is registered with AUSTRAC as a Digital Currency Exchange Provider, with DCE registered provider number DCE100804170-001. This registration enables Zero Hash to offer its crypto services in Australia. Zero Hash Australia Pty Ltd. is registered on the New Zealand register of financial service providers, with Financial Service Provider (FSP) number FSP1004503. A FSP in New Zealand is a registration and does not mean that Zero Hash Australia Pty Ltd. is licensed by a New Zealand regulator to provide crypto services. Zero Hash Australia Pty Ltd.'s registration on the New Zealand register of financial service providers does not mean that Zero Hash Australia is subject to active regulation or oversight by a New Zealand regulator. Zero Hash Europe B.V. is registered as a Virtual Asset Services Provider (VASP) registration by the Dutch Central Bank (Relation number: R193684). Zero Hash Europe Sp. Zoo is registered as a VASP by the Tax Administration Chamber of Poland in Katowice (Registration number RDWW - 1212).
Connect with Zero Hash
Website | Twitter | LinkedIn | Medium
Zero Hash Contact
Shaun O'keeffe
(855) 744-7333
Zero Hash Disclosures
Zero Hash services and product offerings may not be available in all jurisdictions. Zero Hash accounts are not subject to FDIC or SIPC protections, or any such equivalent protections that may exist outside of the US. Zero Hash's technical support and enablement of any asset is not an endorsement of such asset and is not a recommendation to buy, sell, or hold any crypto asset. The value of any cryptocurrency, including digital assets pegged to fiat currency, commodities, or any other asset, may go to zero. Zero Hash is not registered with the SEC or FINRA. Zero Hash does not provide any securities services and is not a custodian of securities, including security tokens, on behalf of customers.