The partnership enables Roxe clients and partners to perform seamless cross-border remittances through Cebuana Lhuillier's extensive multiple methods of fund delivery
NEW YORK, Aug. 04, 2022 (GLOBE NEWSWIRE) -- Roxe (www.roxe.io/), a blockchain infrastructure company powering the next generation of payments and digital commerce solutions, today announced a new partnership with the Philippines' micro financial services provider champion, Cebuana Lhuillier. The partnership will facilitate seamless cross-border remittance payments for clients in the Philippines by utilizing Cebuana Lhuillier's diverse fund delivery methods via the Roxe blockchain network.
Blockchain technology is becoming a growing force and mechanism for driving the next generation of global finance solutions. Through this collaboration, Roxe gives Cebuana Lhuillier access to its global partners who will be able to send funds to Cebuana Lhuillier's existing and new clients.
"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."
As one of the Philippines' most trusted and largest micro financial services providers, with over 3,000 physical locations nationwide, Cebuana Lhuillier offers 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.
"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."
Over the past few months, Roxe has ramped up its product and partner expansion and recently added over 40 partners to its global payment community who have integrated Roxe's blockchain technology and Roxe Instant Settlement Network (RISN), and was recently shortlisted as a finalist for the Bank for International Settlements (BIS) G20 TechSprint challenge on central bank digital currencies (CBDCs).
Roxe is a global payment network unlocking the future of finance with fast, flexible and cost-efficient blockchain payment solutions. 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. For more information, visit https://www.roxe.io.
About Cebuana Lhuillier
P.J. Lhuillier, Inc. (PJLI) is the proud parent company of Cebuana Lhuillier, the Philippines' largest micro financial services provider that offers pawning, remittance, micro insurance, bills payment, e-load, business-to-business solutions services, and micro-savings and other banking services through their banking arm, the Cebuana Lhuillier Rural Bank. For more than 30 years, Cebuana Lhuillier continuously provides fast, easy, secure, and convenient micro-financial products and services to more than 30 million customers through over 3,000 branches nationwide. The company has also expanded its services into the digital space through the eCebuana App, a product of the Cebuana Lhuillier Rural Bank, and a host of other financial platforms such as Cebuana From Home, ProtectNow.com and the Cebuana Lhuillier Jewelry website.
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