Majority, a mobile banking and money transfer service for immigrants, has launched cross-border stablecoin payments to Latin America.
The remittance service, which uses infrastructure provided by zerohash, will allow eligible members in the US send money to family members in Latin America via the Majority app.
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Under the arrangement, senders make payments in US dollars, while recipients receive payments in dollar-backed stablecoin USDC within their Majority Global Wallet.
Recipients must be Majority members to receive payments through the new feature.
zerohash will be responsible for the conversion and delivery of funds. Majority has also integrated zerohash’s regulated onchain infrastructure and compliance functions into its platform to enable the service.
Majority product director Anders Rasmussen said: “Our members support family back home every week, and that shouldn’t depend on bank hours.
“With zerohash, eligible members in the US can now send money to family in Latin America any day of the week, right from the Majority app. Senders pay in dollars, and their family receives USDC, a dollar-backed stablecoin, in their Majority Global Wallet.”
zerohash chief revenue officer Adam Tesan said: “Majority deeply understands the needs of its members, and we’re proud to provide the onchain infrastructure that lets them send stablecoin payouts to Latin America, any day of the week.”
Earlier this year, zerohash europe, the European subsidiary of zerohash, secured an Electronic Money Institution (EMI) licence from De Nederlandsche Bank (DNB) to support stablecoin payment services across the European Economic Area (EEA).
