Payment solutions company RedotPay has expanded its collaboration with the Circle Payments Network (CPN) to launch a new cross-border payment feature called “Send Crypto, Receive MXN” specifically for the Mexican market.
This new service aims to provide a near-instant, low-cost way for users to convert cryptocurrency into Mexican pesos (MXN). The main draw is its low transaction fee, which RedotPay states is under 1%, significantly lower than the industry average of about 6.5% for money transfers.
The launch is strategically timed as Mexico has become a major global payments hub, receiving a record $64.7 billion in remittances in 2024. This growth, however, has highlighted the persistent problems of high fees and slow settlement times in traditional transfer methods. RedotPay's stablecoin-based solution uses blockchain infrastructure to streamline the process and address these issues, promoting financial inclusion.
The CEO of RedotPay, Michael Gao, emphasized the company's vision to make spending, sending, and receiving crypto as easy as local currency. The Mexico rollout follows a similar successful launch in Brazil ("Send Crypto, Receive BRL") and comes after RedotPay secured significant funding, including a $40 million Series A round. The firm plans to continue expanding its crypto-to-fiat payment solutions to other emerging markets globally.
October 2025, Cryptoniteuae