Blockchain infrastructure company Roxe has teamed with Cebuana Lhuillier, a micro financial services provider based in the Philippines, to facilitate seamless cross-border remittance payments for clients in the Philippines.
Roxe’s blockchain-enabled network efficiently moves and exchanges value by removing the barriers of time, geography, and currency. Roxe was built to unify the highly fragmented financial market, enabling payment and remittance companies, banks, central banks, and consumers to get the speed and cost savings of blockchain technology, and exchange digital assets without reliance on cryptocurrencies.
Cebuana Lhuillier is a non-banking financial institution offering services such as pawn-broking, money remittance, insurance, bills payment, remit-to-account, corporate payout, collections, and e-loading.
Through Roxe, Cebuana Lhuillier will now offer cross-border remittance disbursement through Cash-Pick-Up and Remit-to-Account services available to clients through their branches, agent locations, service providers, and other payout networks and channels.
“This partnership is an exciting step forward for Roxe as it gives us a strong distribution network to clients in the Philippines,” said Josh Li, Chief Business Officer for Roxe. “The country has emerged as a serious player on the global financial stage, and whether it’s disbursing funds to end users’ bank accounts or directly allowing cash pickups onsite, all Cebuana clients are now able to receive funds from within the Roxe network.”
“The Philippines’ remittance market has grown tremendously to become the fourth largest in the world, meaning Filipino citizens are in need of an easier, more dependable, and secured facility for them to send and receive their money, anytime and anywhere,” said Jean Henri Lhuillier, Cebuana Lhuillier President and CEO. “This collaboration will allow us to connect to Roxe Inc.’s blockchain network, eliminating key pain points of our clients, while accelerating and optimizing cross-border payments.”