Pana has officially launched its innovative Pana Global Card, a platinum card designed to dismantle the long-standing financial barriers between the United States and Latin America. This new offering aims to transform the way money moves, shifting from a remittance model to a seamless global account system.
Pana is not merely improving the existing remittance process; it is fundamentally replacing it. The days of lengthy queues, hefty fees, and inconvenient cash pickups are being rendered obsolete. Instead, users can now experience instant access to funds, enabling money to be available immediately rather than being "sent."
From Sending Money to Having Money Available
Traditionally, cross-border money transfers involved significant friction. Pana's approach simplifies this dramatically. For instance, an individual can deposit cash at a participating U.S. location or receive their salary directly into their Pana account. Within seconds, their family in Latin America can access and spend these funds locally using their Pana Global Card. This eliminates the need for a formal transfer event, pickup, or any associated hassle, providing instant access.
Piero del Risco, co-founder and CEO of Pana, likened the shift to the evolution of communication: "Western Union was the SMS of money. Pana is the WhatsApp—instant, digital, and built for the 21st century. Once both sides hold a global account, the idea of 'sending money' disappears."
How It Works: Complexity Removed
Behind the scenes, Pana has engineered a sophisticated system that unifies U.S. banking services, stablecoins, blockchain technology, and artificial intelligence into a single, automated ledger. This infrastructure streamlines fund routing and abstracts away all technical complexities for the user. The process is designed to be intuitive: funds move seamlessly from cash or payroll into U.S. dollars, then into stablecoins, and finally convert to local fiat currency. Users interact with a single balance and perform a single action, without needing to understand the underlying technological intricacies.
A Global Account for Modern Professionals
The Pana Global Card is particularly beneficial for creators, freelancers, and independent workers in Latin America. They can now effortlessly receive payments from U.S. platforms and clients, transfer funds to their local bank accounts when necessary, or spend directly across the globe using the Pana Global Card. This consolidated environment replaces the need for multiple intermediaries that were previously required for such transactions.
Continental Infrastructure: Instant Interoperability at Scale
Pana has established a robust, borderless financial system designed for scale. The network boasts:
300,000 cash-in points across the U.S. and Latin America.
Over 5,000 integrated banks throughout Latin America.
Connectivity in 35 countries.
Global cards that can be activated within minutes.
This infrastructure is poised to transform the estimated $150 billion annual remittance market, which is still heavily reliant on cash. Pana aims to create a faster, safer, more digital, and more inclusive financial layer for these transactions.
Núñez del Risco emphasised Pana's distinct approach: "Legacy models were built on agents, cash, and physical rails. Pana is software, speed, and interoperability—a global card that makes remittances unnecessary."
What is Pana
Pana, supported by YCombinator, is dedicated to building the financial infrastructure that bridges the United States and Latin America. By integrating U.S. banking, stablecoins, AI, and local payment networks, Pana provides a unified user experience for individuals, families, creators, and businesses to move and spend money across borders. The company's core mission is to replace traditional remittances with instant financial access.
