Innovative Payment Solutions partners with Bullet Blockchain for remittances

CARMEL-BY-THE-SEA, Calif. - Innovative Payment Solutions, Inc. (OTCQB:IPSI), currently trading at $0.01 with a market capitalization of $1.52 million, announced Tuesday a partnership with Bullet Blockchain (OTC:BULT) to enable cryptocurrency-based remittances to Mexico through Bitcoin ATMs. According to InvestingPro analysis, IPSI’s financial health score stands at 1.24, indicating significant operational challenges.

The collaboration will allow IPSI customers to deposit cash, debit, or credit card funds at BULT’s Bitcoin ATMs across the United States, converting them into Bitcoin or USDC for remittances to Mexico. Recipients can access funds via crypto wallets, bank accounts, or local ATMs. The venture comes as IPSI faces significant financial headwinds, with a beta of 2.45 indicating higher volatility than the broader market.

"With BULT’s innovative Bitcoin ATM technology, we’re making it easier than ever for people to step into the crypto world and send money to Mexico in pesos, dollars, or crypto quickly and securely," said William Corbett, CEO of IPSI.

Bullet Blockchain, through its subsidiary First Bitcoin Capital LLC, operates Bitcoin ATMs in states including California, Texas, and Florida. The company holds U.S. patents for Bitcoin ATM technology (U.S. Patent Nos. 9,135,787 and 10,332,205 B1).

The partnership will incorporate Silo Technologies’ cybersecurity wallet solutions, which include real-time threat detection, encryption aligned with the EU’s Markets in Crypto-Assets framework, and AML/KYC compliance tools. These features aim to address digital payment fraud in Latin America.

The companies plan to launch co-branded marketing campaigns in key states where BULT operates ATMs.

IPSI describes itself as a FinTech company focused on digital payment solutions for unbanked and underserved communities, cross-border transactions, and banking services.

This information is based on a press release statement from Innovative Payment Solutions. For comprehensive financial analysis and additional insights, including 8 more exclusive ProTips, visit InvestingPro to make more informed investment decisions.

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