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US fintech Velmie releases blockchain-powered remittance platform

Friday 17 January 2020 13:44 CET | News

US-based fintech provider Velmie has launched a blockchain-powered remittance platform to boost cross-border payments.

The solution now supports more than 30 currencies worldwide, with an advanced currency conversion engine powered by live market feeds and revenue optimization algorithms. Customers can use a mobile wallet application to set up accounts, send money to friends from the address book, execute QR payments, manage payment cards and a lot more.

Blockchain is well suited to processing remittance payments because transactions are highly secure, with records verified by a network of computers versus by one party or bank, and transactions visible to all parties versus held in a central database. The key benefits for individuals and businesses making cross-border payments on blockchain-powered mobile wallets are that costs are substantially lower, and the payment far quicker than conventional bank international payments or money transfers, the company has stated.


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Keywords: Velmie, US, fintech, blockchain, United States, remittance platform, cross-border payments, payments, remittances, North America
Categories: Banking & Fintech | Payments General
Countries: United States
This article is part of category

Banking & Fintech