December 19, 2024 – Mexico City, Mexico – Swapido.com, Mexico’s non-custodial Bitcoin-only platform, announces a feature that allows users to pay any of the 70 million debit cards in Mexico and 11 million Dimo® linked mobile phone numbers.
With just a 16-digit debit card number or a mobile number, users can instantly send pesos to over 34 million recipients across Mexico using Bitcoin directly from their wallets via the Lightning Network.
This comes two months after Swapido announced its launch, expanding its existing service that allows users to send bitcoin-to-peso transfers by entering a CLABE, a Mexican bank account number.
Why It Matters
More than 35% of Mexican adults now have debit cards, and they are using them more than ever. In 2024 alone, usage grew significantly:
- +21.44% in transaction volume
- +26.02% in the number of transactions
Since March 2023, Mexicans can use the Dimo® system to link their mobile number to their bank account through their financial institution’s app. This allows them to receive instant SPEI transfers by simply sharing their mobile number.
Dimo®’s adoption has been rapid, with more than 21 institutions supporting it and 11 million registered users, up from 5.28 million at the end of last year.
Swapido’s newest feature is the gateway to Mexico’s fast-moving financial system for Bitcoin users worldwide.
Revolutionizing Cross-Border Payments
With $66 billion USD in remittances flown into Mexico in 2023 alone—making it the second largest remittance market in the world—Swapido offers a faster, more affordable solution powered by Bitcoin’s Lightning Network and Mexico’s SPEI system.
Use cases made possible by Swapido’s latest feature:
- Families Reconnected: A child abroad sends pesos to his parents in Mexico in seconds.
- Affordable Business Payments: Employers pay remote Mexican freelancers instantly, bypassing high wire transfer fees.
- Borderless Financial Access: Anyone with a Mexican debit card or registered mobile number can receive money effortlessly, making global payments as easy as local transfers.
How It Works
Sending pesos with Bitcoin is easy with Swapido:
- Sign up and verify your identity.
- Enter the recipient’s full name, 16-digit debit card number or mobile number.
- Pay the Lightning Network invoice from a Bitcoin wallet.
- Pesos arrive in seconds, directly to the recipient’s bank account linked to the debit card or mobile number.
Who Can Benefit from This?
- Bitcoin Users: Easily send bitcoin directly to Mexican debit cards or mobile phone numbers.
- Families: Support loved ones across borders with instant, low-cost transfers.
- Businesses: Pay freelancers and partners in Mexico instantly, avoiding bank delays and high fees.
“This isn’t just another feature – it’s a major milestone in the real-world adoption of Bitcoin,” said Gustavo Flores, CEO & Founder of Swapido.
“By bridging Bitcoin and the Mexican financial system, we’re enabling millions of people to experience instant, borderless payments through the Lightning Network.”
About Swapido
Swapido is a non-custodial platform that enables bitcoin-to-peso transactions by directly integrating the Lightning Network with Mexico’s instant bank transfer system (SPEI).
Our mission is to empower individuals and businesses to live on Bitcoin by unlocking cross-border payments without delays or excessive fees. Try it Today: app.swapido.com
Press Contact
Gustavo Flores Echaiz, CEO
Email: gustavo@swapido.com
