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Today’s news indicates continuous momentum in the integration of traditional finance with decentralized technologies, as traditional and digital financial institutions increasingly adopt blockchain. iPay, a global online money transfer provider, which operates in over 100 countries and 100 payment and remittance corridors, will be now using Roxe to eliminate costly intermediary payment businesses and deliver quick settlement, eliminating the need to hold reserves in a slew of regional banks to deliver remittances from the United States to beneficiaries in India.
iPay and Roxe have been coordinating to connect the Indian remittance market with the U.S. market, and are currently working together to provide a simple and seamless reference-free payment experience for multinational corporations and their Indian employees, especially those located in India who works abroad or require money transfers to India. The network was established for this purpose, allowing for instant conversions between fiat currencies and digital assets at exchange rates that are competitive with traditional financial institutions.
“Our relationship with Roxe represents our continuing innovation in serving our consumers throughout the world with the most dependable, fastest, and cost-effective payments and remittance services,” said Tan Ching Khoon, chairman of the iPay Group. “We picked the Roxe network because it helps us achieve our goal of enabling businesses and individuals to make and receive cross-border payments and remittances faster, easier, and at a lower cost while maintaining compliance.”
iPay has been growing at an exceptional rate since its inception in 2010, providing cross-border money transfer services to thousands of people around the globe. With such a need, the iPay Network is focused on helping customers receive funds quickly and securely while upholding diversity through integration with traditional financial institutions and operating with the goal of promoting further growth of the market.