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Florida, and Miami specifically, functions as the principal US gateway for remittance corridors to Latin America and the Caribbean, hosting major money-transfer operators and a growing cluster of digital-first remittance fintechs serving these corridors.
Outlook
The US-LAC corridor remains a sustained high-volume commercial artery for Florida-based payments firms. Watch for continued share migration toward stablecoin-enabled digital challengers (tracked in W9) alongside the incumbent MTO base, and for any corridor-level effect from the Florida stablecoin-issuer regime once substantive licensing takes effect in October 2026.
no periodic updates on record for this sub-brief
Sources and findings (5 unique sources · R-3/R-4)
- [W5-E1] T2 Derived: Confirmed in_forcehttps://thedialogue.org/blogs/2025/04/the-state-of-the-remittance-industry-and-an-outlook-for-2025 re-verified
<cite index="77-3">In 2024 nearly $170 billion was remitted to Latin America and the Caribbean through money transfer operators, 80 percent of it originating from the United States</cite>, with Florida as a principal originating hub.
Intermex Wire Transfer, a major US-Latin America remittance operator, is headquartered at 9100 South Dadeland Blvd., Miami, Florida, and holds money-transmitter licences across multiple US states verifiable via NMLS.
- [W5-E3] T3 Derived: Probable in_forcehttps://refreshmiami.com/news/felix-is-turning-whatsapp-into-a-remittance-engine-for-400000-immigrants/ re-verified
<cite index="71-31,71-32,71-33">Miami-headquartered Félix chose South Florida as its base after considering other states, calling the move strategic given the city's fintech ecosystem for capital and talent</cite>; <cite index="71-24">the company uses stablecoins behind the scenes to lower costs and increase speed</cite> on its US-Mexico/Guatemala/Honduras corridors.
- [W5-E4] T3 Derived: Probable in_forcehttps://www.macroglobal.co.uk/blog/financial-technology/money-transmitter-license-mtl-us-states/ re-verified
<cite index="73-1">Florida is described as one of the most dynamic money-transmission markets in the US, driven by strong remittance corridors to Latin America and the Caribbean</cite>.
- [W5-E5] T3 Derived: Probable in_forcehttps://www.bankdirectoriesonline.com/cms-bankshow/Florida+International+Bankers+Association.html re-verified
<cite index="67-1,67-2">The Florida International Bankers Association's membership spans financial institutions from 18 countries across 4 continents, with a primary focus on Latin America including correspondent banking relationships that facilitate North-South trade flows</cite>.