Payment services companies Tempo France and Orokii have launched a remittance corridor between the US and 27 European Union countries, as well as the Philippines and Ukraine.
The collaboration is expected to facilitate a better payout system between Europe and the US.
This move is in line with both entities’ shared values of offering cross-border blockchain-based remittances.
Cutting down customer transaction expenses and delivery time and supporting financial inclusion are also among the shared values of the firms.
Orokii has teamed up with Tempo to provide low fees remittance payments to most corridors across the globe.
Under the alliance, Orokii will soon offer payments for Tempo clients in the US.
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Tempo Payments CEO Alla Zhedik said: “We look forward to this breakthrough partnership and opening a fast and secure money flow between Europe and the US. Tempo France was the first money remittance company to build international remittances based on blockchain solutions.
“We are happy that Orokii shared the same values of the innovative remittance approach. Using blockchain technologies to achieve the best performance regardless of borders and continents!”
Orokii CEO Bisi Adedokun said: “We are very excited about this relationship with Tempo because of the shared value of providing financial inclusion to the unbanked and underbanked.”
Tempo, which is the principal EU anchor for Stellar blockchain payments, offers payment services for businesses across the world as cross-border transactions as well as settlement operators.
Orokii offers a P2P and B2B payment solution, which allows domestic and international fund transfers for individual users and businesses.