Interview to Federico Darnond, Biz Dev at Bitex

What is Concierge?

FD: Concierge is an alternative international payment and collection service and the credit card system and the SWIFT system for international transfers. We use the blockchain network to produce funds from local currency to local currency.

Today we work with SMEs, Startups and independent professionals who make payments between Latin America, the US and Europe.

How does it work?

FD: We received your funds in local currency, for example pesos in Argentina, and we used the bitcoin blockchain network as a value transfer protocol to produce local currency at destination USD, EUR, MXN.

Who is it for?

FD: We aim to make B2B operations more efficient for LATAM COMPANIES, be they international companies that operate in the region or local companies to the world.

SMEs is the segment where they see an advantageous alternative in our service (there are 600,000 TELAM SMEs - approximately 60% are micro-sub-banks - Cisco) to existing services. In particular the software industries, service exporters, tourism and independent professionals is where we see the greatest value.

The total volume of export and import of services in Argentina abroad was USD38MM and the destinations covered by Concierge coincide with the main trading partners of Argentina.

What are the benefits of operating through Concierge?

FD: Scalability in the service since we allow companies integration via API (Application Processing Interface), speed in payments thanks to the agility of the blockchain network, being able to pay in multiple destinations to several beneficiaries in the same day simultaneously, personalized attention throughout the process, both high and operational and a very competitive cost compared to the value offered by the solution.

Are there commissions?

FD: Our commission is 1% and the final cost of service goes from 1 to 3% depending on the countries that are involved. The comparable services of remittances and international payments are around 5 to 10% or have fixed minimums per operation and there is opacity about what the final cost of the service is.

On the other hand, the service has no cost or account opening or maintenance which makes it very practical for companies that take care of their operating costs.

How do you start using the service?

FD: The first step is for someone from our team to contact the interested party and send him the information requirements for the account's registration. Once we have the information, the registration process takes about 72 hours and you are ready to start trading. Part of the value we give in this process is that there is always a dedicated team that you can contact at any time and that eliminates any uncertainty.

In which countries is it possible to use this service?

FD: The service allows you to pay and collect locally in Argentina, Chile, Brazil, Mexico, the US, Switzerland, European Union, Hong Kong, Japan, the Philippines, Singapore, Thailand and Australia.

If you are interested in the service, you can contact us at comercial@bitex.la.

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About Bitex

Bitex provee servicios financieros sobre la red Bitcoin. Realiza pagos y cobros globales usando Concierge, opera Bitcoin en nuestro exchange, haz compras OTC o acepta pagos en Bitcoin en tu negocio.
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