SiGMA News sat down with Defexa CBDO Olga Lutz to discuss payment solutions for the LatAm market.

Can you give us a brief introduction about Defexa?

Defexa provides various payment solutions in B2B and B2C areas.  Our brand belongs to a Canada-registered company with an MSB license. Defexa has an international team working from different parts of the world – from Canada and the UK to EU and Latin America.

Please, tell us more about Defexa’s  products and services.

Defexa B2B platform allows merchants to accept payments , transfer, and exchange crypto and fiat currencies in a single ecosystem. Our fiat payment gateway includes: card processing, local payment methods, recurring payments, omnichannel payouts and payment links. The crypto payment gateway has such features as increased acceptance, enhanced security, faster transactions, global accessibility, lower fees, increased customer privacy.

Defexa Wallet has been created as a B2C product. The wallet provides a distinctive blend of safety, convenience, performance, and a comprehensive toolkit for storing, transferring, and managing crypto assets all within just one App. Defexa is a real non-custodial wallet, we care about privacy.  The wallet has a user-friendly interface, easy navigation to all wallet services, live customers support 24/7, knowledge base and subscriptions. Defexa Wallet provides various features such as swapping, staking, fiat payments, local payments and DEFI integrations.

Our third product is Defexa Exchange — decentralized exchange that combines the advantages of a centralized exchange with the security of a DEX.

Engaging both our in-house application security team and conducting regular security audits by our partners HEXENS play a critical role in ensuring the security and reliability of our crypto payment gateway. Our own application security team provides continuous expertise within the organization, allowing for swift responses to vulnerabilities and security issues, as well as active integration of secure development practices at every stage of the product creation process. Collaboration with HEXENS complements our efforts by providing independent expert assessments of our product’s security through regular audits. This comprehensive approach ensures the highest level of protection and user trust for our crypto payment gateway.

Who are your customers?

Regarding B2B we have a wide portfolio of clients from different industries such as gambling and betting, e-sports, i-gaming, ecommerce, tourism, dating and freelance.

Which is your competitive advantage over other players on the market?

Actually, Defexa provides payment solutions to grow your business globally with borderless, instant, and low-cost fiat and crypto transactions. For our global expansion we have not only a Canadian company with MSB license, but also UK EMI, licensed EU companies, and several companies in Hong Kong.

Furthermore, we have acquired a local company in Brazil which is a licensed Payment Institution (PI). This way we are going to provide direct access to PIX payments with a very low cost and the highest conversion rate on the market. Our advantages are also connected with new regulations for betting in Brazil. For companies that wish to operate in the Brazilian market, it is essential to work with a Payment Institution (PI) authorized by the Central Bank of Brazil as a payment partner. Only this kind of payment provider is ready for future changes in legislation and can offer the merchant technological, financial and regulatory guarantees and security. Our company is prepared in this case according to the new law and provides the security of our merchants. Therefore, we are safe and trustworthy.

Regarding other countries in LatAm, we have also registered a local legal entity in Mexico to provide our clients local payment channels as VISA/MC, SPEI etc without intermediaries and limitations.

Due to the presence of payment and crypto licenses worldwide, Defexa is building a network for merchants without borders and limits. In this way it becomes possible for our clients to enter new markets too. Defexa serves as a gateway facilitating comprehensive connections between fiat and fiat currency, fiat and cryptocurrencies, as well as traditional finance and crypto sectors, thereby contributing to the profound integration of the global economy.

What are your plans for the year 2024?

Well, Defexa has recognized the importance of competing on an international strategy and thoughtfully chose a different set of approaches from our competitors. That’s why we decided to create a complete payment system with WEB3 banking services, which will offer our clients a full solution with IBAN accounts, card acquiring, fiat and crypto payment processing.

 It is necessary to mention that our UK company is an authorized Electronic Money Institution (EMI) and a principal member of Mastercard, also in the process of obtaining SWIFT membership. Therefore, we are going to provide card issuing services and SWIFT accounts to our clients.

Defexa has also been studying the requirements of local legislation in different countries and regions according to the specific situation, and we are going to continue actively applying for licenses and landing business.

In this way Defexa is adding new payment methods and implementing innovative solutions for various businesses around the world.

Upcoming event: BIS SiGMA Americas 2024, find all the details here.