Blockchain-based payment network Roxe has announced a strategic partnership with global B2B payments platform Nium.
The alliance will allow Roxe to tap Nium’s network to facilitate real-time pay out to key international markets, including from the US to the UK, Europe, Asia and Australia.
Singapore-headquartered Nium supports payouts to 190 countries and pay-ins to 35 markets.
The firm, which provides a spectrum of regulatory and compliance technologies, is licenced in 11 jurisdictions worldwide.
Commenting on the development, Nium co-founder and chief business officer Michael Bermingham said: “We are delighted to work with like-minded partners such as Roxe, to serve their mission of empowering banks, payment service providers and other connected financial institutions to provide real-time, low-cost payments and payment acceptance to their customers across the world.”
Roxe offers instant peer-to-peer global payments. It is said to utilise blockchain and decentralised liquidity technology to facilitate instant settlement on the blockchain.
Roxe managing director Thomas Trepanier said: “Our partnership with Nium enables us to better deliver on our promise of instant peer-to-peer payments that don’t rely on the antiquated correspondent bank model.
“We pride ourselves on removing barriers so that financial value moves at unprecedented speed at much lower costs anywhere in the world. Partnering with Nium provides us an even more seamless, reliable, and cost-efficient experience for our global customers.”
In August this year, Roxe teamed up with international foreign exchange broker Treviso to enable remittances to Brazil.
The partnership followed the firm’s entry to Brazil, in the same month, in partnership with money transfer firm Rana Express.