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.
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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.”
