Movement partners with El Vecino and RISE for WhatsApp remittances

TL;DR:

• El Vecino processes approximately 25,000 monthly transactions, representing around $70 million annually in financial services.
• The US-Mexico remittance corridor moved over $62 billion during 2024.
• The new service will start with a pilot test for 20,000 users before expanding to 800,000 people through the RISE network.

The Movement network formed a strategic alliance with US company El Vecino and digital wallet provider RISE to enable a WhatsApp remittance system backed by digital dollars.

With this partnership, sending money from the United States to Mexico undergoes a complete transformation, allowing users to initiate transactions directly from the popular messaging app without opening a bank account or downloading extra software.

Technological Infrastructure for the World’s Largest Corridor

The US-Mexico transfer corridor stands as the highest-volume route globally. Data presented by Movement indicates that this corridor moved over $62 billion throughout 2024. Traditionally, operations in this market have depended on face-to-face cash handling and settlements that can take several days to clear.

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