Saldo

Issuing Mexican-peso-backed tokens on Stellar, Saldo allows migrant workers to support family members back home by making it easy to pay bills across borders. Their simple interface lets a sender in the U.S. top up a recipient’s account with a utility provider in Mexico.

Saldo lets workers in the U.S. transfer funds directly to a recipient’s utility account in Mexico. It offers a compliant way to offer real-time settlement for cross-currency transactions without the hoops and fees required by current remittance providers.

Using Saldo’s interface, a sender selects a recipient’s utility provider and account, chooses the amount they want to pay, and hits send. Because Saldo issues a Mexican-peso-backed token and settles on the Stellar network, senders can initiate a payment in USD, and automatically convert the payment to MXN in a single transaction. That transaction is immediate, transparent, and irreversible.

Easy Asset Issuance

• To settle payments, Saldo needed a digital peso. Stellar makes it easy to issue an asset and connect it to existing financial infrastructure.

Automatic Low-Fee Currency Conversion

• If you have dollars in hand but need to pay bills denominated in pesos, the cost and hassle of currency conversion is a big obstacle. Stellar allows simultaneous transfer and conversion of currency with near-zero transaction fees.

Transparency

• With current remittance platforms, it’s hard to know in advance how much the recipient will actually receive. With Stellar, you can specify that amount, see the transaction happen in real-time, and know immediately that the payment succeeded.