This year, $160 billion in remittance payments will be sent from the US to Latin America. $65 billion will be sent from the US to Mexico, the world's largest remittance corridor.
Yet, the majority of payments will be sent via brick-and-mortar stores like Western Union or Moneygram.
The future of payments is already here, yet most people are queuing in line, paying in cash, taking a photo of their receipt, and sending it to their families on WhatsApp for collection in their home country.
If we can send receipts over WhatsApp, why can’t we send money too?
That same question was the motivation for Félix, an AI-powered chatbot that replicates the trusted agent experience om WhatsApp.
It’s a user experience made possible by stablecoins.
In this episode of Money Trails, presented by Stellar Development Foundation, our user-centric series on global stablecoin adoption, we explore how immigrants send money back home.
This episode of Money Trails is sponsored by Rain Cards.
In this episode, we’re joined by
Manuel Godoy - Co-founder & CEO, Felix
Farooq Malik - Co-founder & CEO, Rain
00:00 - Intro
01:06 - Sending money in Jackson Heights
03:22 - Félix CEO Manuel Godoy
04:54 - How Félix works
06:20 - Stablecoin-powered remittance payments
08:49 - Spending money in Mexico
11:38 - Subscribe!
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