InstaReM to be RippleNet Partner for Southeast Asia Payouts
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Partnership to allow RippleNet members to leverage InstaReM’s existing networks
Mumbai, 21 February 2018: – 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 InstaReM 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.
InstaReM is a Singapore-headquartered cross-border payments company. Founded in 2014, InstaReM is licensed as a Money Services Business (MSB) in Singapore, Hong Kong, Australia, USA, Lithuania, Canada, India and Malaysia. It powers local payments to more than 60 countries and 3.2 billion people across the globe. InstaReM has created a unique payment mesh in Asia, which is being leveraged by financial institutions, SMEs and individuals to make fast low-cost cross-border payments.
For more information on how InstaReM helps businesses, click here.
Ripple provides one friction-less experience to send money globally using the power of blockchain. By joining Ripple’s growing, global network, financial institutions can process their customers’ payments anywhere in the world instantly, reliably and cost-effectively. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets.
With offices in San Francisco, New York, London, Luxembourg, Mumbai, Singapore and Sydney, Ripple has more than 100 customers around the world.
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