Press Release – updated: Sep 27, 2017 11:00 EDT
DENVER, September 27, 2017 (Newswire.com) – Denver-based cross-border payments company, bridge21, has increased their daily transfer limit, tripling the previous limit.
bridge21 CEO Will Madden shared, “We took note that our customers were looking to transfer larger sums from the U.S. to Mexico, especially during times of extraordinary rates. We listened, and our customers can now transfer up to 3,000 USD from the U.S. to Mexico daily. We’re working on even higher limits for select customers as well.”
Since the company began servicing the US to Mexico corridor, bridge21 has trail-blazed the concept of Blockchain-powered FX. bridge21’s Bridge Rate is based on something completely different than the mid-market rate, used by traditional cross-border payment companies. The Bridge Rate is calculated using a proprietary algorithm that generates an exchange rate based on the real cost of buying and selling bitcoin in the sending and receiving countries at the moment of transfer, not the bank exchange rates used by everyone else. It’s common for bridge21 customers to be able to send to Mexico at 2 percent or even more than 5 percent better than mid-market rates.
With the Bridge Rate, savings for customers can truly add up. For example, if rates are 5 percent better than mid-market rates, an individual sending 3,000 USD from the U.S. to Mexico will save 150 USD or more. The more they send, the more they save. For most people, every penny counts and with savings like this, your dollars can go even further and the impact can be meaningful for anyone looking to save anywhere from hundreds to thousands of dollars per year through bridge21.
As the first Blockchain-powered FX service, bridge21 can help anyone with a U.S. bank account who would like to send money to a recipient with a Mexican bank account get better rates. Over the next few months, the bridge21 team will be adding additional features and updates to the Bridge Rate to generate further savings for their customers.
bridge21.io is a cross-border payments company enabling businesses and individuals to send money internationally as a bank to bank transfer at a rate based on the price of bitcoin in the sending and receiving countries. Live from the U.S. to Mexico, the Bridge Rate is often 2 percent, 5 percent, or even 10 percent better than competitors.
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