MOIN revealed that during the Korea Fintech Week, it has broadened its strategic partnership with Nium. The expanded agreement is intended to facilitate global remittance and settlement services for both consumers and businesses.
Company, through this contract, is extending outbound payouts to various major markets. The partnership provides access to the currencies of the emerging markets in Africa, the Middle East and Latin America. Thus, individuals and businesses from Korea are enabled to send money at a higher speed and to a greater number of locations worldwide.
Moreover, the two companies are working on the project to increase inbound payment flows to Korea. Apart from that, they will facilitate the growth of settlement volumes in Korean won (KRW) for corporate clients and global partners like marketplaces and platforms. MOIN and Nium will be looking into the possibilities of jointly implementing stablecoin, based cross border payment and settlement models. MOIN aims to leverage its blockchain expertise while Nium takes advantage of its worldwide network for development of next generation payment solutions.
As a result, Korean users and businesses have access to more transparent, affordable, and efficient remittance services. At the same time, companies of any size, from exporters to digital platforms, can lower their expenses, speed up settlements, and expand their markets.
The extended collaboration between MOIN and Nium is a significant step toward the creation of a strong global payment infrastructure. Their partnership is a reaction to the increasing demand for real, time cross, border payment solutions. It is indicative of a move toward more inclusive global finance.
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News Source: PRNewswire.com
