bridge21 helps businesses send money from the United States to Mexico. Our technology eliminates correspondent banks (international wires) from cross-border payments.
Banks and Other Competitors
When you make an international payment with a bank, they usually complete your payment as an international wire. This process involves collecting information about recipients, SWIFT codes, and a long list of other information. After the paperwork is complete, you are charged a large fee and receive a poor exchange rate. Next you discover that you missed the "cut-off time" and the wire won't be processed until Monday. On Monday you find out it will take several more days to arrive. When it does arrive, your recipient tells you their bank charged a 300.00 MXN fee and that they didn't receive the correct amount of Pesos on the invoice. You now have an accounts payable reconciliation issue and need to increase the next month's payment by 305.95 Mexican Pesos. This process repeats every month where you slightly overpay or underpay your invoice. Everything is a mess. If you've ever sent an international wire, you know exactly what we are talking about!
Our non-bank competitors still use international wires to balance accounts in the sending and receiving country. This increases their costs and impairs the reliability of their services.
How bridge21 is Different
bridge21 uses digital assets to move money, not correspondent banks. This eliminates 2+ intermediaries from your transaction. When you fund your account with a US domestic wire, the US dollars are immediately converted to digital assets (primarily the USDC stablecoin) in Mexico. These assets are rapidly converted into Mexican Pesos when you need to make payments 24 hours a day, seven days a week, 365 days a year (24/7/365). Any remaining US dollars remain pegged 1:1 to the US Dollar for instant use later. Bypassing correspondent banks allows us to use the national banking system in Mexico (SPEI) to complete your payments 24/7/365 in real-time for free.
This means faster, more reliable, cheaper payments for you, whenever you need them.