Marketplaces · Customer since 2023
Basalt Marketplace
A Latin American handmade-goods marketplace pays sellers in local currency the next business day.
- seller payouts on local rails
- T+1
- median seller onboarding
- 6 min
- payout currencies at launch
- 3
Illustrative figures for a fictional customer.
The challenge
Basalt connects independent makers in Brazil, Mexico and Colombia with buyers across the region. Sellers were paid weekly in US dollars, then converted at their own bank, which ate into already thin margins.
Onboarding a new seller meant collecting documents by email and checking them by hand. The queue grew faster than the team could clear it.
The solution
Payouts now settle to each seller's local bank account in reais, pesos or Colombian pesos, using domestic rails. Basalt sets a payout schedule per seller, and most choose next-day.
Identity & KYB collects and verifies seller details in the onboarding flow itself. Most sellers are approved without a manual review, and the rest arrive in a queue with the reason attached.
Sellers in Brazil and Mexico get paid in their own currency the next day. Onboarding takes minutes.