Next-generation global payment network Roxe has announced its partnership with IPAY, a global online money transfer provider.
The Roxe network is designed to save financial institutions significant time and costs by using blockchain technology to provide fast, inexpensive, and highly reliable clearing and cross-border settlement of payments and remittances. Powered by Roxe Chain, a hybrid blockchain purpose-built for payments and other value transfer applications, Roxe also empowers its partners to offer their end customers ultra-fast remittance and payments products. Roxe is designed to be the fundamental component of the global payments industry and is compatible with any traditional and digital financial system. The Roxe network is currently designed to support USD, several major fiat currencies, and fiat from select countries with large remittance markets such as Nigeria, Egypt, Turkey, India, Philippines, Mexico, and Brazil among others.
Founded in 2010, IPAY is the registered brand name for IPAY group and its subsidiaries. IPAY offers a faster, easier, and cost-effective digital & conventional cross-border payment services with a dedicated team of experts. IPAY’s global network covers more than 100 countries and is expanding to grow bigger, continuing to build a strong customer base with the accessible and equitable services.
Under the partnership, IPAY will become a Roxe node to send remittances from the United States to beneficiaries in India. IPAY will use Roxe to eliminate costly intermediary payment companies and provide instant settlement, which in turn eliminates the need to maintain reserves in a multitude of regional banks.
“The US to India is a large, important remittance corridor as we continue our global expansion and lead the shift of global payments from a traditional account model to a new blockchain- powered paradigm,” said Josh Li, chief business officer of Roxe. “Today’s international payment and remittance systems are too complicated, too slow, and too expensive. Our partnership with IPAY can enable businesses, banks and individuals to remove barriers of time, geography, and currency so that financial value moves much faster, more reliably and at much lower costs anywhere in the world.”
“Our partnership with Roxe reflects our continued innovation in providing the most reliable, fastest, and cost-effective payments and remittance services to our customers across the world,” said Tan Ching Khoon, chairman of IPAY Group. “We chose the Roxe network because it helps us advance our mission to provide businesses and individuals the ability to send and receive cross-border payments and remittances faster, easier, and at significant savings without compromising on compliance requirements.”
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