The cooperation would “enable smooth cross-border remittance payouts for Philippine customers by employing Cebuana Lhuillier’s numerous money distribution mechanisms via the Roxe blockchain network.”
The forthcoming generation of worldwide financial solutions will be increasingly driven by blockchain technology. With this partnership, Roxe provides Cebuana Lhuillier with “connection to its worldwide partners who may transmit monies to Cebuana Lhuillier’s current and new customers.”
“This agreement is fantastic for Roxe as it provides us a robust distribution network to customers in the Philippines,” said Josh Li, Roxe’s Chief Business Officer. All Cebuana customers may now receive cash from inside the Roxe network, establishing the nation as a major participant in global finance. This includes distributing funds to end-user checking accounts or permitting actual cash collections onsite.
Cebuana Lhuillier, one of the biggest and “most reputable” microfinance institutions in the Philippines, “offers cross-border remittance disbursement via Cash-Pick-Up and Remit-to-Account services accessible to customers through their offices, agent facilities, service providers, and other payment networks and gateways.”
Cebuana Lhuillier President and Chief Executive Officer Jean Henri Lhuillier made the following statement: “The Philippines’ remittance industry has developed immensely to become the fourth biggest in the world, which means that Filipino residents are in need of a simpler, more trustworthy, and safer service for them to send and receive remittances, whenever and wherever they may be.” This partnership will enable us to link to the blockchain network of Roxe Inc., removing critical sticking points for our customers while expediting and streamlining cross-border remittances.
During the course of the last few months, Roxe has “beefed up its product and associate growth and recently acquired more than 40 partnerships to its worldwide payment community who have embraced Roxe’s blockchain technology and Roxe Instant Settlement Network (RISN), and was recently nominated as a frontrunner for the Bank of International Settlements (BIS) G20 TechSprint initiative on central bank digital currencies (CBDCs).”
According to the description, Roxe is “a worldwide payment network that unlocks the destiny of finance through quick, flexible, and cost-effective blockchain payment options.”
Value may be “efficiently moved and exchanged” throughout the Roxe blockchain-enabled network without regard to time, place, or currency.
Rather than relying on cryptocurrency for its transactions, Roxe was “designed to integrate the extremely divided financial industry, allowing payment and remittance providers, banks, central banks, and users to receive the speed and cost benefits of blockchain technology.”