Crowdfunding companies regulated by the Fintech Law in Mexico need to comply with a series of requirements that protect those who invest in their projects, for which they require strategic allies of payment technologies such as Bitso.
briq.mx, a crowdfunding platform for real estate investments, announced today that it is the first company of this field to have chosen Bitso Business—the B2B arm of Bitso, a leader in next-generation payment technology—as its technology provider. of financial infrastructure. The new solution will allow briq.mx's 125 institutional clients and its 90,000 users to make payments in pesos through a single account managed through an API, which will reduce costs, allow greater speed and stability in transactions, improving customer service. public.
Crowdfunding companies, based on gathering resources for a common purpose, have diversified in recent years, resulting in the emergence of new projects, initiatives, as well as alternative forms of investment that allow people to obtain rewards and support causes. Globally, the crowdfunding market has grown significantly, particularly in Asia and North America, and is forecast to continue expanding. In 2023 it reached a global market value of US$16.5 billion and is expected to reach US$42.9 billion by 2032.
Its growth has also driven regulations that help those who invest keep their funds safe, which is why in Mexico the laws force organizations in this field to maintain the same account to receive and move the money of the people they serve. . This condition makes it difficult to carry out transactions through traditional systems.
The use of Bitso technology allows briq.mx to comply with current regulations, having a concentrator account that separates the users' resources from those of the company itself, and at the same time achieving greater efficiency, transparency and speed in its operations. transactions; especially when their volume and periodicity is extensive.
Currently, briq.mx has a clientele of 125 companies that manage the investments of 90 thousand people who can invest from 500 pesos in real estate through the platform, which implies the logistical challenge of hundreds of thousands of transactions to gather the funds from many people and send them to investment projects, and many other transactions that help distribute the profits among those who invested.
“Due to the number of transactions we handle and the regulatory requirements, at briq.mx we were looking for a financial institution capable of offering us technological tools and security at the same time; With the SPEI transaction solution through Bitso, we achieved a connection in less than a week and a flawless operation. Bitso has become an ideal option for us and we are setting a precedent for other crowdfunding,” said Alberto Padilla Luengas, CEO and founding partner of briq.mx.
“At Bitso we are excited to offer services for expanding companies and industries that find in blockchain the technological and financial solutions they require in the digital world. Our connection with local banking systems and the regulations under which we operate in the countries in which we work have allowed us to provide the support required by key institutions such as briq.mx, which continue to transform finance, democratizing and decentralizing investments ,” he concluded. Thales Freitas, Director of Bitso Business.
