Digital asset payment enabler Data Mynt has entered into a strategic collaboration with AirTM for enabling cash payouts for merchants and platforms across Latin America.

Airtm is a completely regulated digital dollar account solution, which provides access for Latin Americans to a wallet for receiving, holding, and spending funds with less fees and reduced transaction times.

Under the collaboration, the sellers and platforms using Data Mynt’s omnichannel digital asset payment and checkout solutions in the Latin America will have access to a cost-effective process for withdrawing funds directly into their bank and Airtm accounts in local currency.

This will enable Latin American shoppers to make payment for goods and services at participating Data Mynt merchants and platforms using their cryptocurrency.

The merchants will also be able to settle the funds immediately as cash and deposit into their bank and Airtm accounts.

Data Mynt CEO Alex Christian said: “This is an important moment for both Data Mynt and Airtm. We’re strengthening our respective value proposition for customers and bootstrapping a better way to buy and sell goods and services across Latin America, a region that has one of the highest crypto adoption rates globally combined with one of the worst card payment experiences.

“At Data Mynt, we’re dedicated to making commerce easier for more people – in all of its forms – and we’re thrilled to find a like-minded partner in Airtm.”

The company stated that the consumers can now start using cryptocurrency as actual currency through its checkout and payment platform.

By using Data Mynt, sellers and buyers are said to reduce payment processing costs, delays, declines, while eliminating the chargebacks as well as digital asset price volatility.