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Tempo France and nTokens launch high-tech remittances to Brazil

Friday 29 September 2023 15:12 CET | News

Tempo France and nTokens have launched high-tech remittances to Brazil from the EU countries by leveraging Armenotech-designed solutions based on the Stellar blockchain platform. 

The project enables people to send funds through the Tempo mobile application. The clients of over 170 Brazilian banks are now able to receive funds in their bank accounts. As per the press release, implementation of the Stellar blockchain in the payment process brings advantages, providing high transaction speed, maximum safety, and transparency. Most importantly, clients are able to utilise the lower costs of the remittances.

Both companies emphasise that the successful completion of the project represents a technological and commercial milestone in the critical money transfer corridor within the continent. Brazil alone contributes nearly USD 5 billion to the South American money transfer corridor. 

Tempo France and nTokens have launched high-tech remittances to Brazil from the EU countries by leveraging Armenotech-designed solutions based on the Stellar blockchain platform.

Tempo France has been actively implementing such types of projects in different parts of the world, with payment markets in Eastern Europe, Africa, and the Philippines being completed. 

Moreover, the press release notes that nTokens is looking for new opportunities to extend the global usage of its services and new channels for cooperation. The nTokens-Tempo France integration aims to provide a higher degree of security. 

Both companies have stated that they consider South America, and Brazil in particular, as very promising vectors for global remittances. They expect the volume of money transfers between the EU and Brazil to grow from 5% to 10% in 2023. 

About Tempo France 

Tempo France is an international money transfer system. The company has been implementing more than 100 modern payment methods in 100 countries around the world. The firm partnered with the Cyprus-based international fintech company, Armenotech, to jointly step up their activities in the international payment market and stimulate more integration of Stellar blockchain in the global sector.  

About nTokens 

nTokens is a Brazilian-compliant tokenisation company. It coordinates access from compliant finance to distributed assets. The company has been issuing tokenised BRL access, acts as a Stellar anchor and works on major protocols and programmable finance. Since 2022, nTokens has been a partner and tokenisation agent of the authorised startup secondary market, regulated by the Brazilian Securities Commission. Currently, it is also a part of the Central Bank Real Digital (CBDC) pilot. 

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Keywords: digital banking, remittances, money transfer, cross-border payments, blockchain, tokenization
Categories: DeFi & Crypto & Web3
Companies: nTokens, Tempo
Countries: Brazil
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