EMQ, a global financial settlement network, has rolled out a new feature to enable customers from around the world to make cross-border money transfers into China using its real-time pay-out network.
Hong Kong-headquartered EMQ currently covers 126 banks in China and will be expanding to over 150 banks in the coming months.
“China is a significant market in our global growth strategy as it is the world’s second-largest recipient of remittances with US$67 billion in currency flow into the country in 2018, according to the World Bank,” said Max Liu, Co-founder and CEO of EMQ.
Also Read: Filipino Senator seeks to declare the Singaporean founder of Angkas persona non grata
“Since we launched our China gateway two years ago, we have continued to invest in our network infrastructure and strengthen our compliance capabilities in the region to deliver a faster, efficient and cost-effective cross-border settlement platform. It allows our customers to send money from anywhere in the world into China,” added Liu.
EMQ operates a global financial settlement network that currently spans across Europe, China, Hong Kong, Singapore, India, Indonesia, Japan, Vietnam, Cambodia, Thailand, Taiwan and the Philippines, with expansion underway across key business markets in the Middle East, Africa and the Americas.
Its network infrastructure can be deployed across multiple vertical industries for a broad range of services, including e-commerce, merchant settlement, procurement, remittance, and payroll.
The post EMQ now allows customers to send money from anywhere in the world into China appeared first on e27.