In August 2023, it joined Citi Bank as a strategic partner and investor, with which the digital exchange house is preparing to strengthen its service proposal and add new ones in 2024. One of them is the sending of remittances and international transfers, according to the CEO and Co-founder, Mateu Batle, commented to Día1.

“It is one of the things we are looking at for the future. To send remittances there is a regulatory need. As a digital exchange house we cannot, but if you have a strategic partner it is possible. And now we have it”Explain.

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Citi, in August 2023, decided to join Retie as an investment and strategic partner. (Photo: Diffusion)

The functionality could be launched in the second half of the year and Rextie is interested in offering this financial service for both companies and individuals. “Yes, it is true that there is a need to receive money from abroad quickly and economically, but this also applies to companies. Many clients who are importers or exporters need to make payments abroad and with currency exchange. It is an area that we are looking at and that is interesting in terms of the market. “It could happen in 2024, but more towards the second half”Explain.

To date, Rextie has 170 thousand individuals and 13 thousand companies registered as clients. This last group, however, represents 75% of the transaction volume. These are mainly medium and small companies.

This year Rextie added the possibility of viewing the exchange rate through smartwacth.  In 2024, thanks to the partnership with Citi, more features of this type will be implemented.  (Photo: Diffusion)

This year Rextie added the possibility of viewing the exchange rate through smartwacth. In 2024, thanks to the partnership with Citi, more features of this type will be implemented. (Photo: Diffusion)

These clients, according to Blate, are also offered the factoring service as a complementary value proposition.

“We realized during the pandemic that many companies required financing. We have achieved good growth rates and the client base is increasing. “We see it as another value offer that we give to our currency exchange clients.”

Mateu Blate, CEO of Rextie

Mateu Blate,

Internationalization

The arrival of Citi will also allow Rextie to strengthen its internationalization in 2024. The digital exchange house has landed in Canada and is close to starting operations.

“With this banking partner, it will be much easier to operate in other Latin American markets that interest us. Today we have reached US$5 billion transacted on our platform since the beginning of operations and the goal is to reach US$7 billion in 2024.it states.



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