Fintech and stablecoin companies may need to look beyond the US-Mexico corridor if they want to capture a larger share of Latin America’s $174 billion remittance market, according to comments from a Bybit executive. Claudia Wang, the company’s chief marketing officer, argued that many firms remain overly concentrated on the $61.8 billion US-Mexico route, even as faster-growing flows are emerging elsewhere in the region.
Wang said the most attractive opportunities are now in corridors linking the United States with Central America, as well as transfers within Latin America and between Latin America and Europe. She pointed to routes such as Venezuela to Colombia, Argentina to Bolivia and Spain to Ecuador as examples of segments that are gaining traction but remain underserved. The non-US-to-Mexico remittance market now totals about $112 billion, she noted, and requires more localized strategies than many global firms have adopted.
The US-Mexico corridor, while still the largest, fell 4.5% in 2025. By contrast, remittances to Honduras, El Salvador and Guatemala rose sharply, increasing 19%, 18% and 15%, respectively. Wang attributed that divergence in part to US immigration policy, saying that migrants from Central America are sending money home more quickly and in larger amounts as they seek to hedge against deportation risk. Mexico, she said, has a more established diaspora and does not show the same urgency.
Wang also argued that many Western fintech firms misunderstand user behavior in the region. In her view, the main appeal of stablecoins in Latin America is not trading or transacting, but holding dollar-linked assets. She said users want access to dollar exposure rather than a temporary conversion tool, and that the companies best positioned to succeed will combine local payment rails, stablecoin liquidity, trust and closed-loop financial services.
Competition in the market is intensifying. Traditional remittance firms such as Western Union and MoneyGram are preparing stablecoin infrastructure, while crypto-native players including Binance, Bitso, Strike and Felix Pago are also expanding. Banks, retailers and telecom operators are competing as well, making localized execution increasingly important. Wang said firms that assume Latin America is a single market are likely to miss the next phase of growth.The USD/INR pair edged lower in Asian trade on Monday after posting modest gains in the previous session, hovering near 95. Traders remained focused on developments in U.S.-Iran peace efforts, while later in the day, attention was set to turn to India’s HSBC manufacturing PMI data.
The Rupee could draw some support from a firmer risk tone as mediation efforts continue to seek an end to the conflict, now in its third month. Iran said it is reviewing Washington’s response to its latest 14-point proposal, lifting hopes for a diplomatic breakthrough. At the same time, reports suggested Donald Trump viewed Tehran’s latest proposal as falling short of expectations, leaving the outlook uncertain.
A softer crude oil backdrop also offered some relief to the Indian currency. West Texas Intermediate crude stayed in negative territory for a third straight day, trading near $98 a barrel. Lower oil prices are typically supportive for India, which relies heavily on energy imports, because they reduce dollar demand from refiners and other oil buyers.
Even so, the Rupee has remained under pressure from elevated energy costs and persistent importer hedging. Higher crude prices have weighed on market sentiment and helped sustain demand for the US Dollar. The currency has also been affected by foreign portfolio outflows from Indian equities, which approached $6.5 billion in April and pushed cumulative 2026 withdrawals to about $20.6 billion, according to Reuters.
Indian stocks opened higher on Monday, helped by the retreat in oil prices, while election counting in several key states remained in view. The results were seen as potentially strengthening Prime Minister Narendra Modi’s position midway through his third term.
From a technical perspective, USD/INR continues to trade within a broad range, but the pair remains above both the nine-day and 50-day exponential moving averages, pointing to a near-term bullish bias. The 14-day RSI near 64 suggests positive momentum without indicating an extreme condition.
Immediate resistance is seen near the record high of 95.33. On the downside, first support is located around 94.48, followed by 93.10, then the lower boundary of the range near 92.50 and a recent low around 92.14.
