dLocal has partnered with Félix to introduce a stablecoin-funded remittance option across several Latin American countries. The move aims to enable WhatsApp users in the United States to send money to bank accounts in Mexico, Guatemala, Honduras and El Salvador. The system relies on USD Coin (USDC) for funding, with conversions handled by dLocal before funds are delivered in local currency.
Stablecoin rails tied to faster settlement
According to operational data from early testing, the settlement time has shortened considerably, with most transfers reaching recipients in under two minutes and reliability levels approaching near-uninterrupted execution. By routing transfers through stablecoin infrastructure rather than traditional correspondent networks, both companies expect fewer delays and clearer settlement windows, particularly in regions with high remittance volume.
According to the official press release, remittances play an important economic role in much of Latin America. Honduras has among the highest levels of reliance, with inflows representing roughly a quarter of national output, and Mexico recorded more than USD 64 billion in receipts during 2024. Global figures from the World Bank show that sending USD 200 still costs more than 6% on average, making the search for lower-cost, faster settlement methods a priority for operators.
Representatives from dLocal said the initiative is intended to address long-standing delays and operational friction in cross-border corridors, adding that the use of stablecoins allows for quicker front-end funding before local currency disbursement. Officials from Félix noted that greater speed and predictability could shift expectations for users accustomed to slower delivery, emphasising that the process is designed to match the simplicity of a chat message while offering more transparent settlement.
Transfers are initiated entirely within WhatsApp, where senders specify recipients and amounts. Compliance checks such as Know-Your-Customer and anti-money-laundering reviews are built into the flow, and dLocal handles cross-border reporting obligations in each jurisdiction.
