“The Push”: how is the bitso accelerator that seeks to promote the adoption of Stablecoins in the region

Latin America becomes increasingly attractive to International investment Thanks to its expansion potential and its growing entrepreneurial ecosystem. This is confirmed by the study “From Barriers to Puentes ”by Bitso Business and PCMI, which concludes that the region leads the growth of the remittance market and it is expected that the cross-border payments “Business-to-Business” (B2B) rather than duplicate, when passing from U $ 600,000 million AU $ S1.4 billion by 2030.

However, he acknowledges that companies still face challenges in their expansion, particularly in the field of cross -border payments. It is here where Stablecoins or stable currencies They take prominence as an efficient alternative for global transfers, by reducing costs and transaction times.

In order to help companies overcome these challenges and accelerate the adoption of blockchain and stablecoin that will impact the future of Latin America, Bitso Business -The B2B arm of bitso that provides the infrastructure for the future of cross-border payments- He has just launched a Stablecoins online startup accelerator, being the first in its kind and with a duration of three months, which will be known as “The Push.”

In statements a Scope, Julián ColomboGeneral Director of Argentine Bitsoexplained that a Stablecoins accelerator is a program designed to help startups (innovative ventures, based on technologies and scalable business model) that work with this type of assets and Blockchain technology to grow faster.

And he adds that “in this case, ´The Push´ is a program Bitso Business which offers these startups: mentoring with experts in technology and finance, investment of up to US $ 2550,000 to boost their projects and access to tools and bitso services valued at US $50,000 ”.

As the cryptocurrency expert comments, the objective is to help these companies to develop innovative solutions with Stablecoins, facilitating international payments faster, cheap and safe. In order to overcome the obstacles that persist for companies such as the lack of technological infrastructure, regulatory compliance, safety and financial inclusion.

But the flag that seeks to “The Push ” It is to promote the adoption of Blockchain and Stablecoins technology in Latin America.

The details of “The Push”

Colombo explains that the program is focused In five startups that operate or want to expand in Latin America and must comply with certain parameters. For example, they have to have scalable and technology -based business models, focused on taking advantage of the Blockchaincriptomonedas or stablecoins To boost innovation.

The expert maintains that startup requests will be evaluated based on their Equipment, solution, traction, market and alignment with bitso Business “The selected companies will be invited to online interviews to clarify any questions about application,” he says.

It is also clear when it comes to being consulted on what Tools and solutions offers Bitso to facilitate the implementation of Blockchain and Stablecoins in the participating startups. “Bitso Business offers an advanced technological infrastructure that facilitates the implementation of Blockchain and Stablecoins in the participating startups of”The Push””, Replies Colombo.

“Throughout our trajectory, we develop the necessary capabilities to revolutionize the movement of cross -border money: Technology, ramps, liquidity and regulation”, He adds. And it is that having the ability to accept deposits in a country, have liquidity to exchange one currency for another and be able to carry out withdrawals in another latitude, the exchange managed to unlock the movement of instant money through borders, which eliminates the need of prefinancing.

“Our infrastructure, offering direct access to local payment systems and currency exchange capabilities (FX), eliminates several intermediaries in the value chain that normally increase rates without adding significant value,” says Colombo.

In addition, it ensures that this infrastructure allows to release the capital retained in accounts “Nostro and Vostro “which generates important reductions in operating costs for exchange customers.

As a result, companies can offer better services at lower costs. In addition, a key fact is that as a bit it operates under a unique regulatory model, it can serve companies around the world that operate between USA, Mexico, Brazil, Colombia and Argentina.

Thus, thanks to these tools, startups can create scalable solutions, reduce costs and times in international transactions, and improve financial inclusion in the region.

The impact and expectation on “The Push”

When asked about the expectation and scope of the initiative, Colombo expects “The Push” to have a Valuable impact on sustainable development in Latin America by accelerating the adoption of stablcoins and blockchain technology in the region.

And it emphasizes that through this program, companies will be able to overcome challenges of the Fintech ecosystem and Promote the scalability and sustainability of new solutions, At the same time that from the Exchange, financial inclusion is promoted through access to services in traditionally unattended sectors, which ends up impacting positively on regional economic growth.

“We consider that Stablecoins have the potential to revolutionize the financial system in Latin America and with” The Push “we hope to accelerate this transformation supporting startups that will lead the change,” concludes Colombo.