BlindPay Aims to Disrupt International Payments with Latin American Focus

Published: 2025-01-23 15:40:54 |

Bernardo Moura, CEO of BlindPay, a startup emerging from the 2024 Consensus hackathon and the Y Combinator 2025 batch, is challenging SWIFT’s dominance in global payments by targeting emerging markets, notably Latin America. Differing from competitors like Bridge.xyz, which focuses on U.S. and European markets, BlindPay aims to offer stablecoin payment options to underserved regions such as Argentina, Mexico, Colombia, and Brazil. Moura envisions democratizing global payment rails using a transaction-fee model, akin to Shopify, to benefit small and medium-sized enterprises rather than imposing monthly fees. Currently operating with 19 clients across gaming, payments, and DAOs, BlindPay grew its monthly payment volume from $30,000 in July to $300,000 and plans further expansion. Developer experience and regulatory compliance in Latin America are prioritized, positioning BlindPay for large-scale adoption. The company plans to integrate with card networks and introduce stablecoin-powered banking services. With stablecoin transactions amounting to $8.5 trillion in 2024, their rapid settlement capability over SWIFT offers a compelling edge in a market worth $33 trillion annually, signifying a profound opportunity for BlindPay in reshaping international payments.

Neutral

The news about BlindPay’s innovative approach in targeting Latin American markets with stablecoin payments offers an interesting development in the crypto space, highlighting potential growth in underserved regions. However, despite BlindPay’s competitive edge in these regions and its growing monthly volumes, the broader market impact remains neutral for the time being. This is because the effect on stablecoin adoption and international payment systems has yet to reach a scale that could disrupt existing infrastructures like SWIFT significantly. While it indicates a positive long-term trend towards crypto-based payment solutions, it does not create immediate market volatility or significant investment shifts.