Thunes brings its cross-border payments network to Venezuela

Details: John Tanner; Category: Mobile Finance; 21 October 2026; 1110 views

Singapore-based global payment platform Thunes announced on Tuesday it has expanded its cross-border payments network into Venezuela, billed as one of Latin America's critical financial corridors.

The expansion enables members of Thunes' Direct Global Network – including banks, money transfer operators, payment service providers and gig economy platforms – to process compliant, real-time transfers directly to millions of bank accounts via Credito Inmediato Interbancario, the local platform enabled for instant interbanking transfers.

Thunes said its entry into Venezuela targets key needs in the region, including remittance lifelines, fueled gig economy payouts (with 89% of freelancers living paycheck-to-paycheck) and expanded financial inclusion for unbanked and underbanked populations.

Alex Young, chief network officer at Thunes, said that Venezuela represents a critical market for cross-border money movement, where diaspora remittances and international transfers serve as essential economic lifelines for approximately 35% of families, local businesses, and freelancers participating in the global digital economy. In 2025, remittances to Venezuela were estimated at around US$6 billion (7% of GDP), with about 50% originating in the US.

“Latin America remains a pivotal growth region for Thunes, and Venezuela's market demands fast, transparent, and accessible cross-border financial infrastructure,” he said in a statement. “By opening this corridor, we empower our network members to deliver life-changing financial connectivity to millions of individuals and businesses.”