Unlimit has announced a partnership between its BaaS platform and Unicâmbio , a Portugal-based foreign exchange bureau, and a Western Union foreign exchange agent. This collaboration aims to improve Unicâmbio's digital wallet, Unimoney, by leveraging Unlimit’s BaaS API solution.

Unimoney, which allows users to exchange currencies and send and receive money, is expected to benefit from better functionality, security, and user experience as a result of this partnership. The integration of Unlimit’s BaaS solution is set to enable Unimoney’s continued growth and expansion of its service offerings while maintaining high-performance standards. Additionally, Unimoney customers will have access to a debit card provided by Unlimit, which will allow for global payments, both online and offline, further improving the convenience and security of their financial transactions.

Remittance inflows The collaboration is particularly significant given Portugal's role as a key hub for global remittance corridors. The country received USD 1.3 billion in remittances in 2023, up from USD 976 million in 2022, and USD 776 million in 2021, according to the World Bank. Portugal has emerged as a significant recipient of remittances, with a growing number of individuals relying on cross-border money transfers to provide essential support to their families and communities.

These remittances are a vital financial resource for many Portuguese households, particularly those with family members working abroad. Over the years, the steady increase in remittance inflows has underscored the critical role these funds play in sustaining livelihoods and contributing to the local economy. As more people engage in international employment, the volume of remittances has continued to rise, making them an indispensable part of Portugal's financial landscape.

This underscores the growing need for efficient and reliable digital money solutions, a demand that Unimoney, powered by Unlimit BaaS, is well-positioned to meet. As remittances continue to flow into Portugal, the availability of robust and user-friendly digital platforms will play a crucial role in ensuring that these funds reach their intended recipients efficiently and securely. .