Higloble partners with Triple-A

Tuesday 30 January 2024 09:18 CET | News

US-based solution for international payment transfers Higlobe has partnered with Triple-A, intending to improve the landscape for remote workers in the Philippines. 

As per the information detailed in the press release, Higlobe and Triple-A aim to support remote workers in the region by offering instant, free payment transfers from the US. Considering the need for new payment rails that serve the global workforce, as well as the two companies’ shared objective to simplify cross-border payments, the collaboration leverages the capabilities of stablecoins to provide freelancers and businesses an alternative to traditional SWIFT-based cross-border payment services.

US-based solution for international payment transfers Higlobe has partnered with Triple-A, intending to improve the landscape for remote workers in the Philippines.

Higlobe – Triple-A partnership objectives

The onset of the COVID-19 pandemic, and with it the shift in work culture, positively influenced remote working, as geography no longer represented a constraint in hiring talent. This allowed freelancers to have access to remote opportunities while businesses achieved their objectives in a cost-efficient manner. According to reported data, in the Philippines, there were approximately 1.5 million professionals engaged in freelancing platforms in 2020, with their work focusing on content creation and customer service for local and foreign clients.

Despite the considerable growth in the global job market, international workers who need to accept USD payments from US-based clients face several challenges due to traditional payment methods, including complex processes, large fees, and unfavourable exchange rates. Higlobe intends to support remote workers by providing them with the flexibility to receive USD funds from their US-based employers through a dedicated US-receiving account. This enables users to transfer funds directly to their local bank account fee-free, paying only an exchange rate. Moreover, users can also transfer their funds to a virtual prepaid card, enabling them to spend locally or in the US.

Representatives from Higlobe underlined that the collaboration with Triple-A supports the delivery of instant and free global transfers from the US, as well as the acceleration of cross-border payments for freelancers. The company is committed to improving the payment landscape by offering instant transfers, with no fees, especially considering the advancement of the remote work sector. Furthermore, the partnership aligns with Higlobe’s objective to enhance international payments, benefiting both freelancers and the businesses they work with. The current announcement also supports the company’s international expansion and its development strategy.

Triple-A’s knowledge of digital currency payments and regulatory compliance assists the payment experience for freelancers and exporters in the Philippines. Officials from the company stated that the collaboration allows it to provide freelancers in the region with a cost-effective and convenient experience when receiving USD payments from the US. Triple-A’s compliance-focused platform focuses on ensuring secure and efficient transactions while supporting the freelance and remote workforce. By joining forces, Triple-A and Higlobe aim to enable the global freelance workforce with the cross-border payment capabilities offered by stablecoins, including optimising treasury and cash management, and fostering financial inclusion for freelancers in emerging economies. As of the announcement, remote workers in the Philippines wanting to receive payments from US business clients can join Higlobe’s waitlist.

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Keywords: cross-border payments, freelance economy, partnership, stablecoin, financial inclusion
Categories: Payments & Commerce
Companies: Higlobe, Triple-A
Countries: Philippines
This article is part of category

Payments & Commerce




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