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Roxe partners with GCash for money movements FXCompared.com

by Lottar


Lucy Ingham

Head of content

Lucy is Head of Content overseeing all content and deep diving into the trends and data driving changes in payments. Lucy previously worked as a technology journalist and editor, … Read more

  • Roxe, which works to improve fast money transfers through blockchain, said it has entered into an agreement with G-Xchange, Inc. – which is also known as GCash.
  • The arrangement will see Roxe’s partners work together to make the most of the blockchain network to broadcast online money transfers.
  • “Roxe brings together the global payments community and provides GCash with the assets needed to offer fast and affordable transactions to its end users,” said a spokesperson for Roxe.

Roxe, a blockchain infrastructure provider for future payments, has announced a new partnership with a Philippine mobile wallet app.

The firm, which works to improve fast money transfers through blockchain, said it has entered into an agreement with G-Xchange, Inc. – which is also known as GCash.

The arrangement will see Roxe’s partners work together to make the most of the blockchain network to broadcast online money transfers.

The move will mean that GCash will be connected to Roxe’s blockchain payment system, allowing people around the world to transfer cash to those who are customers of GCash.

This is expected to enable Roxe to offer an improved mid-market exchange rate.

In a statement, a senior figure at GCash said the company is committed to making sure it uses technology that is growing in stature and promise.

“GCash is committed to using emerging technology to provide the best user experience for our customers,” said Martha Sazon, the firm’s president and CEO.

“Through Roxe’s blockchain-based services, our users’ family members worldwide who want to send funds to family or friends in the Philippines can get better FX rates and lower fees, which are big wins for the remittance market,” she added.

Meanwhile, for Roxe, Maodong Xu, the president there, said that blockchain could give GCash users the chance to be efficient in terms of financial solutions.

“By harnessing the power of blockchain, we are able to provide GCash users and Filipino citizens with an efficient financial solution for cross-border payments,” he explained.

He went on to say that Roxe brings together members of the international payments community.

“Roxe brings together the global payments community and provides GCash with the assets needed to provide fast and affordable transactions to its end users,” he said.

One of the particular advantages of the new arrangement is probably the way in which Roxe provides foreign exchange services.

It is thought that the company will give its shipping partners the chance to use an improved foreign exchange rate via the Roxe Payment Protocol (RPP).

It uses its USD/PHP liquidity pool.

To discover more about how the international payments sector works, just head over to our money transfer review pages where you can get more details – you can even find your next provider



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