Roxe, Motoverse Partner on X-Border Remittance Payments

Blockchain payments and digital commerce company Roxe has partnered with global remittance company Motoverse to ease cross-border remittance payments for clients in Mexico, Brazil, Vietnam and the Single Euro Payments Area (SEPA).

With this partnership, Roxe’s global customers can send money to Motoverse’s users, with Motoverse delivering the funds to its users’ bank accounts, connected by the Roxe blockchain network, according to a Tuesday (Oct. 4) press release.

This includes Motoverse users in the C2C, B2C and B2B markets, the release stated.

“Especially with today’s financial volatility, being able to disburse cross-border remittances to people all over the world is no longer a privilege — it is a necessity,” Roxe President Maodong Xu said in the release. “Blockchain technology is the ideal solution to ensure people all over the world can receive the best possible rates and services.”

For Roxe, this partnership expands its payments network to new markets, and it’s now able to service customers in 114 countries, according to the release.

This is the latest of the partnerships Roxe has formed with more than 40 companies in the past few months as it prepares to go public by the end of the year, the release stated.

Read more: Report: Blockchain Payments Firm Roxe Close to $3.6B SPAC Merger

Businesses and individuals can take advantage of speeding up and streamlining cross-border remittances in a way that marries blockchain technology with traditional finance, while sidestepping the challenges of legacy settlement infrastructure and practices, Roxe Chief Business Officer Josh Li told PYMNTS in an interview posted in June 2021.

See more: Using Blockchain to Improve Cross-Border Remittances

“Our long-term vision is that the Roxe network will be available in every country,” Li said at the time. “We believe that advances in blockchain technology should fundamentally change how global payments are done, making payments almost instant and very low cost.”

For all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter.