Bitreserve is opening up a new front in a battle to disrupt the $500 billion international remittance market.

The cloud-based money transfer service, which seeks to combine the low transaction costs of bitcoin technology with the backing of a multicurrency asset reserve to control exchange-rate volatility, is adding “bitpeso” accounts pegged to the Mexican peso and “bitrupee” accounts pegged to the Indian rupee. The move is aimed at tapping the payment streams of low-income Mexican and Indian emigres to their families back home.