Clear Junction has launched a multi-currency SWIFT service for remittance companies in the LATAM, APAC, and EMEA regions.
The service aims to address a key pain point for the industry, facilitating faster and more cost-effective last-mile payouts in destination markets. It enables bulk payments through SWIFT’s banking network and connects to domestic payment schemes such as SEPA, BACS, and the UK’s Faster Payments. This will reduce settlement times and lower costs.
Simple payouts across borders
Remittance volumes across Asia-Europe corridors reached USD 207 billion in South Asia and USD 88 billion in East Asia and the Pacific in 2024. Demand increases, and remittance companies face pressure to offer faster payout options, particularly in markets where transfers exceed foreign investment and aid.
The initiative marks the company’s expansion of its global payment network, offering increased support for regulated financial institutions and remittance providers in key Asian fintech markets, including Singapore and Hong Kong. Through a single API integration, Clear Junction clients can offer faster and efficient cross-border transfers between Europe and Asia while remaining compliant with local and international regulatory requirements.
Clear Junction’s launch adds SWIFT clearing across 11 currencies and allows financial institutions to reach even more markets, supporting multi-currency remittances at scale. The service will simplify cross-border payments, reduce operational complexity, and meet regulatory requirements across multiple jurisdictions. This will help clients roll out faster and serve more clients. Additionally, the company offers compliant stablecoin payout features for clients seeking to bridge fiat and blockchain-based settlement.
The company believes that remittance firms need reach and speed, together with cost control, to offer multicurrency connectivity. With SWIFT and stablecoin payout options, they can leverage a unified route for faster settlement across both fiat and blockchain rails. The firm provides regulated institutions with fast and compliant A2A, virtual IBANs, payment networks, FX and ewallets. Its partners can reduce time to market significantly, entering new markets and leveraging Clear Junction’s infrastructure to lower costs and improve payout options.
