On The Brink with Castle Island Manuel Godoy (Felix Pago) on disrupting the LatAm remittance market (EP.531)
May 28, 2024
Manuel Godoy, CEO of Felix Pago, discusses disrupting the LatAm remittance market using stablecoins. Topics include his immigrant financial services pain points, leveraging WhatsApp for operations in Latam, and the benefits of stablecoins for faster and cheaper money transfers.
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Personal Immigrant Remittance Story
- Manuel Godoy experienced firsthand the challenges immigrants face sending money to their families.
- His uncle got robbed during a money transfer, which motivated Manuel to seek better solutions.
Trust & WhatsApp in Remittances
- Trust is the cornerstone of remittance behavior; people prefer familiar, reliable touchpoints.
- WhatsApp use for receipts revealed a seamless trust channel, inspiring Felix's WhatsApp-based remittance platform.
WhatsApp as LatAm Operating System
- WhatsApp functions as the operating system across Latin America and among Latinos in the U.S.
- Leveraging WhatsApp’s ubiquity enables intuitive, human-like chatbot remittance experiences.