Dubai Telegraph - Movement, El Vecino and RISE Partner to Launch First Digital Dollar Wallet for Mexican Remittances

Global, on-chain payments network Movement has announced a partnership with New Jersey-based Mexico remittance expert El Vecino and on-chain wallet provider RISE to power a digital-dollar service that lets customers hold their own money and send it home in seconds through WhatsApp.

Leveraging El Vecino’s 19 years of experience in US-to-Mexico physical remittances, RISE’s wallet capabilities and LATAM network, and Movement’s access to regulated, sub-second payment rails, the partnership enables stablecoin-settled transfers to be sent to Mexico almost instantly, giving customers a simple way to initiate transfers without opening a bank account or downloading an app.

Rather than having to visit a physical location to initiate every cash transfer, El Vecino customers can now begin the process through the familiar WhatsApp messenger. Funds settle in seconds before recipients cash out through Mexico's extensive OXXO and Circle K retail networks, or receive funds directly via the country's SPEI banking system. 

Currently, El Vecino processes approx 25,000 transactions per month valued at $70 million annually through remittances, international and domestic bill payments, check cashing, and more - with 85% of transactions heading to Mexico.

The new WhatsApp service will first be trialled among El Vecino’s 20,000 users before being rolled out through RISE’s network to an estimated 800,000 in the second phase. This and future phases will look beyond Mexico to LATAM regions including Guatemala and El Salvador.

Founder of RISE Richard Mas will be appearing live from the New York Stock Exchange on Pulso Del Mercado, one of the region's most influential news segments, to speak about the partnership on Tuesday, August 11, at 11:30 am EST. 

The launch meets the growing demand for accessible cross-border payment solutions across the U.S.- Mexico corridor, which forms the world’s largest remittance route, through which over $62 billion passed in 2024. [Source].

The ability to send money home through a trusted local provider is a financial lifeline for Mexican migrant families, with the Movement-engineered solution streamlining a process that has traditionally entailed cash handling and multi-day settlement times.

Torab Torabi, CEO of on-chain global payments network Movement, says: "For too long, Mexicans have often struggled to send hard-earned money back home. Partnering with El Vecino and RISE will address this imbalance while proving the versatility and reliability of stablecoins as a settlement mechanism. In doing so, we’re also proud to be demonstrating that regulated blockchain infrastructure can modernize one of the world’s busiest remittance corridors.”

Mike Burns, founder of El Vecino added: “El Vecino has been built on the trust brought by face-to-face interaction. Families rely on us because they know we’ll help them support their loved ones back home. The partnership with RISE and Movement allows us to bring that built trust to a remote digital vehicle that provides the same safeguards and surety that money sent will reach home. Technology should make life easier, and that's exactly what this collaboration achieves.”

Richard Mas, founder of RISE says: “Every year, tens of billions of dollars cross from the United States into Mexico, most of it earned far from home by people the banking system overlooked. El Vecino spent 19 years earning trust at the counter, one household at a time, and we are proud to join Movement in giving those customers access to new, safe and compliant digital solutions.”

Powered by Movement’s access to licensed payment infrastructure, El Vecino’s new WhatsApp service replaces the traditional chain of correspondent banks with blockchain-based settlement while maintaining full regulatory compliance. This model removes the need for pre-funded liquidity and reduces settlement from days to seconds without the hidden costs often associated with legacy cross-border payment rails.

Movement’s globally licensed payment infrastructure, which spans the United States, Canada, and Europe, will provide El Vecino with compliant fiat on- and off-ramps that have historically been difficult for community remittance providers to access.

The collaboration between Movement, El Vecino and RISE demonstrates how established community operators can adopt institutional-grade blockchain payment infrastructure without the complexity of self-development and management. Combining El Vecino’s local relationships with Movement’s access to a regulated settlement network has yielded a model that could potentially be replicated by remittance providers serving immigrant communities worldwide.

About Movement

Movement provides access to globally licensed and regulated blockchain payment infrastructure that enables businesses to move money across borders using compliant stablecoin settlement rails. Its payment network offers licensed access across the United States, Canada, and Europe, helping financial institutions and payment providers deliver fast, low-cost international transfers without relying on traditional correspondent banking networks. https://www.movementnetwork.xyz/

About El Vecino

El Vecino is a trusted community financial services provider serving Mexican communities across New Jersey. Processing more than $70 million in annual remittance volume for over 20,000 customers, the company offers money transfer and financial services designed to help families maintain strong economic connections across the U.S.-Mexico border. Learn more at https://www.linkedin.com/company/el-vecino-franquicias/ 

About RISE

RISE is a self-custody digital dollar wallet that lets customers hold and transfer USD-backed digital dollars while keeping direct control of their own funds. Offering an alternative to slow, high-cost, and often inaccessible banking rails, RISE customers can open a dollar account inside WhatsApp, hold their balance in USD-backed digital dollars that resist local inflation, and send money across borders in seconds for a flat fee. Learn more at https://risefinance.xyz.

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Source article: https://chainwire.org/2026/08/07/movement-el-vecino-and-rise-partner-to-launch-first-digital-dollar-wallet-for-mexican-remittances/

A.Padmanabhan--DT