How BlindPay’s API Slashes Cross-Border Payment Costs by 80% Using Blockchain Technology
- Blindpay reduces transaction fees by up to 80% and enables 24/7 instant settlements via stablecoins, bypassing traditional banking delays.
- The platform implements blockchain screening, tiered KYC/KYB, and real-time monitoring to navigate regulatory hurdles.
- It connects directly to Latin American payment rails like Pix (Brazil) and SPEI (Mexico), eliminating intermediaries.
BlindPay, a fintech startup founded in 2024, is tackling the $290B cross-border payment market with a stablecoin API designed to simplify global transactions for businesses.
The Payment Problem
Businesses face multi-layered challenges:
- Costly Delays: Traditional transfers require 2-5 intermediaries, taking 2-5 business days with fees up to 6%.
- Regulatory Maze: Compliance requirements vary dramatically across LatAm's jurisdictions.
- Tech Fragmentation: Companies must integrate separate systems like Brazil's Pix (instant payments) and Mexico's SPEI (interbank transfers).
By leveraging blockchain technology, the platform enables companies to send and receive payments in fiat or stablecoins while automating compliance—a critical hurdle in Latin America’s fragmented financial ecosystem.
Its multi-layered compliance system uses AI-driven blockchain screening to flag high-risk wallets and automate KYC/KYB checks, reducing fraud and regulatory exposure.
The platform supports major stablecoins and blockchains, offering developers SDKs and REST APIs for seamless integration.
Blindpay was founded by Bernardo Simonassi, CEO and pioneer in stablecoin payroll systems; João Borges, Forbes 30 Under 30 honoree; Gabriel Lyra, former LendingClub/AWS engineer who slashed monthly cloud costs from $15M to $1M; and Gustavo Marinho, architect of PicPay's $1.2M/day loan marketplace and 1M-user Web3 gaming platforms.
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This founding team combines extensive fintech expertise with cutting-edge blockchain innovation.
Its partnership with Bitso Business further enhances its reach, enabling frictionless transfers across LatAm’s volatile currencies.
Since its July 2024 launch, BlindPay has doubled monthly transaction volumes, serving clients from the U.S. to Europe.
“Since BlindPay was born, we have had in mind the mission of financially connecting the countries and helping companies to transfer funds in a simple way and without intermediaries.
Bitso Business has played a crucial role in this first stage, as its technology is enabling us to connect with local banking systems to achieve successful and fluid transfers,” mentioned Bernardo Simonassi, CEO and developer of BlindPay.
With $500K in funding, BlindPay aims to bridge the gap between traditional finance and Web3, empowering neobanks, remittance providers, and crypto apps to operate globally without intermediaries.
Edited by Annette George
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