Partnership of IPSI and BULT to expedite, secure, and expand options for cross-border money transfers
Innovative Payment Solutions Inc. (IPSI) and Bullet Blockchain Inc. (BULT) have announced a strategic collaboration aimed at transforming cross-border remittances, particularly to Mexico. This partnership unites IPSI's innovative payment capabilities with BULT's secure and patented Bitcoin ATM infrastructure, enhanced by Silo Technologies' cybersecurity measures.
The collaboration will leverage BULT's extensive U.S. ATM network, enabling customers to convert cash, debit, or credit funds into Bitcoin or USDC. This facilitates fast and efficient remittances to Mexico, offering a rapid and secure solution for sending digital payments.
To ensure the security of these transactions, the partnership incorporates advanced cybersecurity solutions from Silo Technologies. These include real-time threat detection, MiCA-aligned encryption, and Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance tools. This is particularly crucial given the 70% surge in digital payment fraud in Latin America during 2023.
The partnership also includes a licensing agreement whereby IPSI pays royalty fees to Bullet Blockchain's subsidiary, First Bitcoin Capital LLC, for each Bitcoin ATM transaction conducted. This underscores a sustainable business model for ATM operations.
Joint marketing campaigns have been launched, targeting key remittance hubs in the U.S., particularly in states with large Latin American populations such as California, Texas, and Florida. The aim is to increase awareness of the crypto-enabled remittance option and drive user engagement through co-branded outreach initiatives.
Bullet Blockchain, operating through its subsidiary First Bitcoin Capital LLC, holds intellectual property rights related to crypto ATM systems under two U.S. patents. The partnership expansion focuses on financial inclusion, combining next-generation crypto technology with a clear focus on financial inclusion.
This alliance is being presented as a move to redefine how cross-border payments are handled, offering a simplified experience for users, removing many of the traditional complexities often associated with cross-border transfers. The services provided include immediate purchases of cryptocurrencies at ATM terminals, swift remittances to Mexico with multiple options for fund access, and robust security backed by regulatory compliance.
Remote monitoring capabilities will be employed for enhanced user safety and trust in Mexico and other South American markets. The services introduced by the collaboration are designed to cater to an increasingly mobile and digitally aware user base in Latin America.
This partnership between IPSI and BULT is positioned as a technological milestone and a means to empower individuals with transparent, affordable, and secure tools for cross-border remittances.
The strategic collaboration between IPSI and BULT harnesses BULT's extensive US ATM network to convert funds into Bitcoin or USDC, thereby facilitating fast and secure cross-border remittances to Mexico. To enhance the security of these transactions, the partnership incorporates advanced cybersecurity solutions from Silo Technologies, including real-time threat detection, MiCA-aligned encryption, and AML/KYC compliance tools.
