Since the trade war between the US and China began in 2018, investment flows from Asian countries to Mexico have increased more than 280%, according to the study “Nearshoring in Mexico” by Deloitte.
- Since 2018, Asian investment in Mexico has grown 280%, driven by proximity to the US and advantageous trade agreements.
- TruBit and Reap strategically partner to revolutionize cross-border payments and support nearshoring in Mexico.
- The alliance provides Asian companies in Mexico with advanced financial infrastructure for efficient and profitable transactions.
This reflects a growing interest by Asian companies in Mexico’s competitive advantages, including its proximity to the United States and favorable trade agreements.
In response to this trend, TruBit, the most comprehensive digital asset ecosystem in Latin America, and Reap, a global payment technology provider, have formed a strategic alliance to revolutionize cross-border payments between Latin America and Asia.
This partnership is designed to support the nearshoring movement in Mexico by simplifying financial processes for companies expanding in the region.
In addition to benefiting from Mexico’s strong supply chain, skilled workforce and favorable trade agreements, Asian companies opting for nearshoring in Mexico can now take advantage of the advanced financial infrastructure offered by this alliance, enabling more cross-border transactions. efficient, profitable and fluid.
“This alliance with Reap not only allows us to strengthen our cross-border payments capabilities, but also support companies in their nearshoring efforts, facilitating closer and more efficient integration with Asian markets. I understand the importance of the Asian market for Latin America, and this is one of the reasons why this alliance can change and revolutionize the region,” said Maggie Wu, CEO and co-founder of TruBit.
Daren Guo, co-founder of Reap, also expressed his excitement about the collaboration: “Our partnership with TruBit marks a significant step in enhancing Reap’s capabilities and streamlining cross-border payments between LATAM and Asia. By combining our strengths, we are committed to leveraging local knowledge and advanced technology to facilitate the efficient movement of money and foster economic growth. “We are excited about this partnership and the opportunities it brings.”
The collaboration between TruBit and Reap is a crucial step in facilitating cross-border payments and supporting businesses in their nearshoring efforts, creating a more dynamic and competitive economic ecosystem in the Asia-Pacific and Latin America region.
Source: Ambito
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