InstaReM, Southeast Asia’s leading digital cross-border money transfer service provider, is entering into a strategic partnership with enterprise Blockchain payment solutions provider, Ripple. Through this partnership, Singapore-headquartered InstaReM will facilitate quick and secure payouts for RippleNet members in Southeast Asia.
RippleNet is Ripple’s global network of banks and other financial institutions which provides real-time messaging, clearing and settlement of financial transactions. The new partnership will allow RippleNet to offer their corporate and SME customers quick and hassle-free payouts to a number of destinations in the region.
Announcing the association with Ripple, Mumbai-bred Prajit Nanu, co-founder and CEO of InstaReM said, “We are pleased with this new partnership with Ripple which will see RippleNet members utilizing InstaReM’s unique payments mesh we have developed in Southeast Asia to further streamline payment processes.”
“We’re excited to work with InsaReM to solve the global payments problem, and the impact it has on emerging markets,” said Patrick Griffin, Head of Business Development at Ripple. “Whether it’s a teacher in Singapore sending money to his family in Thailand, or a small business owner in India trying to move money to open up a second store in another country, it’s imperative that we connect the world’s financial institutions into a payments system that works for customers, not against them.”
InstaReM’s remittance hubs are spread across Asia-Pacific, European Union and U.S. with an operations office in Mumbai, India.