Balam and Transfera Unveil the World's First Remittance-as-a-Service Platform

SAN ANTONIO, Oct. 23, 2024 /PRNewswire/ -- Balam, a pioneer in stablecoin-backed remittance infrastructure, and Transfera, a Lana Group Inc. company known for its co-branded debit cards with brands like Chivas del Guadalajara, have joined forces to launch the world's first Remittance-as-a-Service platform. This cutting-edge solution is designed to transform how US immigrants send remittances, starting with Mexico and Colombia, and is projected to expand to more than 10 countries by the end of the year.

With this collaboration, Balam provides the robust infrastructure and seamless API integration, enabling institutions like Transfera to offer remittance services that are 10X faster and 80% cheaper than traditional methods. The partnership marks a significant leap in cross-border payment solutions, paving the way for more accessible, cost-effective financial services for US immigrants.

"Finding a fast, affordable remittance solution has been a long-standing challenge for our customers," said Antonio Regojo, CEO of Transfera and Lana Group. "Partnering with Balam Pay allows us to deliver a cutting-edge solution that meets the demand for faster, more affordable cross-border payments, while leveraging Balam's expertise and innovation."

"Our platform addresses the long-standing inefficiencies in cross-border payments," said José Alberto, CEO of Balam Pay. "By reducing both the time and cost associated with remittances, we're not just keeping pace with demand—we're setting a new standard for the industry."

By year's end, Transfera and Balam will expand their services to key markets across Latin America, including El Salvador and Guatemala, marking a major milestone in transforming the financial landscape for immigrants across the Americas.

Visit our website today to experience the future of Remittances-as-a-Service: https://www.transferapay.com

Disclaimer: Balam and its affiliates are technology companies, not financial entities. Balam does not issue Stablecoins or any other digital currencies or securities, nor holds customer funds or perform money transmission. Balam offers a technology platform that allows businesses to access services provided by regulated entities. Financial services are provided by our Financial Partners, who possess the necessary licenses.

Contact:
Mayan Jaguar Operations LLC
***@balampay.com

Photo(s):
https://www.prlog.org/13044423

Press release distributed by PRLog

View original content:https://www.prnewswire.com/news-releases/balam-and-transfera-unveil-the-worlds-first-remittance-as-a-service-platform-302284057.html

SOURCE Balam