Digital transformation in cross-border payments is reshaping how funds flow to Chile. Emerging technologies, evolving regulatory frameworks, and shifting consumer expectations are driving innovations that promise faster, cheaper, and more inclusive remittance services. Below are the key trends shaping the future of money transfers to Chile.
1. Central Bank Digital Currencies (CBDCs)
Central banks worldwide are exploring CBDCs to modernize payment systems and enhance financial inclusion. The Central Bank of Chile (BCCh) has conducted pilot studies on a potential digital peso, evaluating benefits and risks of programmable, retail-focused digital currency since 2021. In June 2025, the BCCh initiated practical proofs of concept to test interoperability with existing payment rails, aiming to reduce settlement times and costs. A Chilean CBDC could enable instant, low-fee transfers between individuals and institutions, bypassing correspondent-bank networks and minimizing foreign-exchange markups.
2. Stablecoins and Blockchain Rails
Regulatory reforms under Chile’s 2023 Fintech Law now recognize fiat-backed stablecoins as legitimate payment instruments, provided issuers meet prudential and consumer-protection standards. This legal framework empowers licensed non-bank entities to issue stablecoins on distributed-ledger technology (DLT), allowing transfers to settle in seconds at minimal cost. With open-finance requirements mandating API interoperability among banks, fintechs, and payment providers, stablecoins could seamlessly integrate into Chile’s financial infrastructure, offering a programmable, global layer for everyday remittances.
3. Open Finance and API Ecosystems
Chile’s open-finance mandate compels banks and non-banks to share customer data via standardized APIs, fostering competition and innovation. Third-party payment providers can initiate transfers on behalf of users directly from bank accounts, reducing manual processes and lowering fees. As API ecosystems mature, customers will benefit from aggregated rate comparisons, automated compliance checks, and personalized transfer experiences within their banking apps.
4. Real-Time Payment Networks
Global real-time payment initiatives—such as ISO 20022 messaging and regional instant-payment systems—are gaining traction. Integration of Chile’s local payment systems with global instant rails will enable near-instant crediting of funds, even across time zones. Financial institutions and fintechs are collaborating to bridge local Chilean clearing systems with international instant-payment networks, promising 24/7 fund availability.
5. Blockchain-Enabled Financial Inclusion
Pilot projects using DLT have demonstrated blockchain’s capacity to lower remittance costs in emerging markets by reducing intermediaries and settlement delays. In Chile, blockchain experiments in trade finance and e-invoicing pave the way for broader cross-border payment use cases. Community-driven stablecoin networks could further extend access to unbanked populations via mobile wallets and peer-to-peer transfers, supporting financial inclusion goals.
6. Enhanced Security Through Digital Identity
Digital-identity frameworks—leveraging biometrics, decentralized identifiers (DIDs), and verifiable credentials—are streamlining AML/KYC compliance. Chilean regulators are exploring interoperable identity solutions that allow users to verify their identity once and reuse credentials across providers. This reduces onboarding friction, accelerates transfers, and mitigates fraud.
7. AI-Powered Compliance and Risk Management
Artificial intelligence and machine learning are transforming transaction monitoring. Advanced analytics detect anomalous patterns in real time, flag suspicious transfers, and automate regulatory reporting. For Chilean remittances, AI can optimize route selection based on cost, speed, and regulatory requirements, dynamically choosing the most efficient corridor.
8. Cross-Border Settlement via Tokenization
Tokenization of fiat reserves—where each token represents a unit of currency held in custody—enables instantaneous settlement across borders. Consortiums of banks and fintechs are testing tokenized-fiat networks that settle on private DLT platforms while maintaining regulatory oversight. Such models could replace slow correspondent-bank chains with “touch-and-go” digital wallets, slashing settlement times from days to seconds.
Outlook
The convergence of CBDCs, stablecoins, open finance, and real-time rails heralds a new era for sending money to Chile. Consumers can expect:
- Near-instant transfers with minimal fees
- Greater transparency through real-time rate and fee disclosures
- Broader access for unbanked and remote populations via mobile wallets
- Stronger security through unified digital-identity solutions
As Chile’s regulatory environment embraces fintech innovation—balancing consumer protection with technological advancement—remittance services will evolve from siloed corridors into an integrated, programmable network that serves individuals and businesses alike.
The next five years will see pilot CBDC implementations, regulated stablecoin corridors, and fully operational open-finance platforms. These innovations promise to make sending money to Chile faster, cheaper, and more inclusive than ever before.