Stellar Signs a Deal with B2B Remittance System TransferTo
A Singapore based B2B cross-border mobile payments Network, TransferTo, has partnered with Stellar Lumens to augment its money transfer services across countries. The partnership is focused to aid the financial institutions and partners of both the companies.
The partnership will cater unified benefits to the duo with “combined network coverage, and be able to leverage new technologies to send and receive money more efficiently to more than 70 countries.”
The Director of Partnerships at Stellar, Lisa Nestor, who told that she sees TransferTo as “a leader and innovator in the remittance space”, also confirmed the partnership and is “thrilled” at the partnership and its promising prospects. She further said,
“We’re thrilled to be partnering with TransferTo to offer an expanded network for our current and future partners, as well as continue to drive greater financial inclusion for the underbanked.”
She announced the deal on Twitter page:
— Lisa Nestor (@nestorious828) July 25, 2018
Aik-Boon Tan, the Chief Customer Officer at TransferTo, elaborated and said:
“We always aim to be at the forefront of the payments industry, and by partnering with Stellar, our goal is to trial the blockchain technology and scale our cross-border payment service to better serve our partners and reduce costs. This can enable our partners to better serve both the migrant workers sending money home and their families receiving it.”
Stellar is a platform that connects banks, payments systems, and people. It allows users to move money quickly, reliably, and at almost no cost. At the time of writing, Stellar is placed at rank 6 with a trading price of $0.302209 USD. It has a market capitalization of $5,671,651,054 USD.
TransferTo is a leading global Cross-Border Mobile Payments Network. It works very efficiently to interconnect financial institutions and digital financial service providers globally in order to facilitate real-time international mobile top-ups and money transfers to and from emerging markets.
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