Money transfer firms InstaReM and BeeTech have teamed up to facilitate real time payments between various markets of Asia-Pacific and South America using Ripple’s enterprise blockchain network.

Both the companies joined Ripple earlier this year to facilitate payments into and out of emerging, global markets.

The latest partnership is expected to be mutually beneficial to both the firms. It will allow customers of Singapore-based InstaReM to send payments into South American markets.

At the same time, the partnership will enable customers of Brazil-based BeeTech to gain access to instant pay out services in the 60 markets supported by InstaReM.

InstaReM co-founder and CEO Prajit Nanu said: “The connectivity that Ripple’s innovative blockchain network provides will allow us to offer our customers – including corporates and small businesses – quick, hassle-free payments into BeeTech’s markets.”

BeeTech founder and CEO Fernando Pavani added: “This partnership on RippleNet provides our customers a one-stop shop experience, including the ability to send payments and access new suppliers across more than 60 markets through xVia – a simple API connection.”