Bitso's Stellar Receiving Anchor Services

Bitso has leveraged its international payments offer by setting up Stellar Receiving Anchor services that enable users to benefit from Stellar's low, flat fees and fast transactions. Bitso's Receiving Anchor services support payments from Sending Anchors to Mexican, Argentinian, and Colombian bank accounts. Sender and recipient users need not be Bitso account holders.

Anchors are the on-off ramps of the Stellar network, trusted links between the Stellar network and traditional financial systems. They accept deposits and withdrawals of fiat currencies via conventional rails and convert them to and from digital currency (Stellar USDC). They also interoperate following Stellar-set specifications to entitle users to transact across borders and across currencies. Bitso's Receiving Anchor services implement Stellar Ecosystem Proposals SEP-31 and SEP-38.

This article provides insights into the following:

• A use case of Bitso's Stellar Receiving Anchor services
• The standard for Anchor interoperability in cross-border payments
• The Sending Anchor onboarding