- Roxe, which works to improve fast money transfers through blockchain, has said that it has struck a deal with G-Xchange, Inc. – also known as GCash.
- The arrangement will see Roxe and it's partners work together to make the most of the blockchain network to send out online money transfers.
- “Roxe is bringing the global payments community together and providing GCash with the assets needed to offer swift and affordable transactions to its end-users,” said a spokesperson for Roxe.
Roxe, a provider of blockchain infrastructure for future payments, has announced a new partnership with a Filipino mobile wallet app.
The firm, which works to improve fast money transfers through blockchain, said that it had struck a deal with G-Xchange, Inc. – also known as GCash.
The arrangement will see Roxe and it's partners work together to make the most of the blockchain network to send out online money transfers.
The move will mean that GCash will be hooked up to Roxe’s blockchain payment system, which will allow people across the globe to transfer cash to those who are clients of GCash.
This is expected to allow Roxe to offer an improved mid-market exchange rate.
In a statement, Martha Sazon, the firm’s president and CEO at GCash said that the company had a commitment to making sure that it used technology that was growing in stature and promise.
“GCash is committed to utilizing emerging technology to offer the best user experience for our customers,” said Sazon.
“Through Roxe’s blockchain-based services our users’ family members globally that are looking to send funds to family or friends in the Philippines can get better FX rates and lower fees, which are big wins for the remittance market,” she added.
For Roxe, meanwhile, company president Maodong Xu said that blockchain could give users of GCash the chance to be efficient in terms of financial solutions.
“By leveraging the power of blockchain, we are able to give GCash users and Philippine citizens an efficient financial solution for cross-border payments,” he explained.
He went on to say that Roxe was bringing together members of the international payments community.
“Roxe is bringing the global payments community together and providing GCash with the assets needed to offer swift and affordable transactions to its end-users,” he said.
One of the particular benefits of the new arrangement is likely to be the way that Roxe provides foreign exchange services.
It is thought that the company will give its sending partners the chance to use an improved foreign exchange rate via the Roxe Payment Protocol. This taps into its USD/PHP liquidity pool.
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