Roxe blockchain network provides efficient and affordable cross-border payments for global families to send to 66 million GCash users
NEW YORK, Sept. 08, 2022 (GLOBE NEWSWIRE) -- Roxe, a blockchain infrastructure company powering the next generation of payments and digital commerce solutions, announced today its partnership with G-Xchange, Inc. (GCash), the leading mobile wallet in the Philippines. Now, Roxe's partners can utilize the Roxe blockchain network to disburse cross-border remittances and offer swift and affordable transactions to GCash users living in the Philippines.
The partnership connects GCash to Roxe's blockchain-based payment network, where users from around the world can send funds to GCash's customers. By partnering with GCash, Roxe will provide a better mid-market exchange rate to remittance senders compared with other cross-border remittance services. Unlike most others, where the foreign exchange (FX) is provided by a bank or FX broker, Roxe offers its sending partners the ability to use the superior FX rate from the Roxe Payment Protocol (RPP) USD/PHP liquidity pool. On Thursday. Aug. 18, the interbank USD/PHP FX rate was 55.79, while the USD/PHP FX rate offered by Roxe was 55.76.
"GCash is committed to utilizing emerging technology to offer the best user experience for our customers," said Martha Sazon, GCash President and CEO. "Through Roxe's blockchain-based services our users' family members globally that are looking to send funds to family or friends in the Philippines can get better FX rates and lower fees, which are big wins for the remittance market."
GCash services over 66 million registered users to date and is rated the number one financial app in the Philippines. Offering a full suite of financial services, such as money transfers, e-commerce, savings, investment, insurance, and just recently, cash loan and "buy now, pay later" products, the wallet records 29 million daily logins, with a peak in daily transactions at 19 million as of March 2022.
"By leveraging the power of blockchain, we are able to give GCash users and Philippine citizens an efficient financial solution for cross-border payments," said Maodong Xu, visionary inventor and President of Roxe. "Roxe is bringing the global payments community together and providing GCash with the assets needed to offer swift and affordable transactions to its end-users."
Roxe's partnership with GCash marks the first step in advancing Roxe's vision to connect all mobile wallets and unify the global financial market. Roxe has added over 40 partners in the past few months, including ECS Fin, Axletree Solutions, N2Xpress, Fairexpay, Rana Express, iPay, and Treviso. The GCash and aforementioned partnerships come at the forefront of the company's preparation to go public by the end of 2022.
To learn more, please visit: https://roxe.io.
About Roxe
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 GCash
GCash (G-Xchange, Inc.) is the #1 Finance App in the Philippines. Through the GCash App, 66M registered users can easily purchase prepaid airtime; pay bills at over 1,600 partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 5.2M partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. GCash is a wholly-owned subsidiary of Mynt (Globe Fintech Innovations, Inc.), the first and only duacorn in the Philippines.
GCash was recognized by The Asian Banker (TAB) and by the IDC in 2021 for its outstanding digital financial inclusion programs.
For more information, please contact:
Fusion PR
Diana Bost | diana.bost@fusionpr.com | +1.732.616.9643
GCash
Winsley Royce Bangit, Chief Customer Officer
Email Address: corpcomm@gcash.com ¦ Facebook: http://www.facebook.com/gcashofficial
This content was issued through the press release distribution service at Newswire.com.
