Belo, the digital wallet aiming to transform the international payments sector, introduces its web platform specially designed for businesses. With this new launch, companies from 108 countries can open a free account on Belo, enabling them to make transactions in pesos and cryptocurrencies and to send dollars to foreign accounts.
According to Manuel Beaudroit, CEO and Co-founder of Belo, this initiative aims to alleviate the difficulties that Micro, Small, and Medium Enterprises (MSMEs) in Latin America face when conducting international transactions. “We offer tools to simplify and speed up sending money abroad,” Beaudroit highlighted in a press release.
In Latin America, 70% of businesses lack a digital payment option. Thus, the new ACH transfer functionality joins existing options that allow businesses to store value and charge for goods and services. Belo has also recently added the Pix payment option, a popular method in Brazil, and has allowed the conversion of corporate funds into stablecoins like USDC, USDT, or DAI.
Operations on the new web platform for businesses are similar to those available on Belo’s mobile application. Additionally, the company plans to include a bill payment service soon to complete the user experience.
One of the most innovative features is the option to pay up to 20% of salaries in cryptocurrencies. “Crypto is an option that employees highly value for its convenience and as a hedge against inflation,” added Beaudroit.
To open a corporate account, companies must complete their information on empresas.belo.app and attach the required documentation.
This news comes at a time when, despite a global reduction in fintech funding, investment in fintech in the Americas has increased, according to a KPMG study. In fact, funding in the Americas rose from USD $28.9 billion in the second half of 2022 to USD $36 billion in the first half of 2023.
