InstaReM, Southeast Asia’s leading digital cross-border money transfer service provider, has partnered with São Paulo-based BeeTech on Ripple’s leading enterprise blockchain network in a move that will unlock further global reach for both companies.

Customers of both cross-border money transfer companies can now benefit from Ripple-powered payments into more markets.

The BeeTech-InstaReM partnership is the first of its kind among non-bank members of RippleNet.

InstaReM, Southeast Asia’s leading digital cross-border money transfer service provider, has partnered with São Paulo-based BeeTech, a market-leading South American payment service provider, on Ripple’s leading enterprise blockchain network for payments. This partnership is the first of its kind between a non-bank RippleNet member in Asia and in South America, and will enable their customers to benefit from fast, transparent and low-cost Ripple-powered payments across a greater number of markets.  

The collaboration between BeeTech and InstaReM follows shortly after both international money transfer companies’ signed with Ripple, the world’s only enterprise blockchain solution for global payments. Customers will now be able to make payments to and from markets where the companies operate - in real time, and at low cost, starting in May.

Singapore-headquartered InstaReM offers payment services across 60 countries, including markets in Southeast Asia and Europe . The partnership with Beetech will enable InstaReM customers to send real-time payments into South America. BeeTech customers will benefit from instant payout services into the 60 markets across the world that InstaReM supports.

Announcing the tie-up with BeeTech, Prajit Nanu, Co-founder and CEO of InstaReM, said:

“We are very excited to partner with Brazil’s BeeTech over RippleNet. The connectivity that Ripple’s innovative blockchain network provides will allow us to offer our customers -  including corporates and small businesses - quick, hassle-free payments into BeeTech’s markets.”

Fernando Pavani Founder and CEO of BeeTech said:

“This partnership is fantastic news for our business customers, who will benefit from Ripple-powered payments into InstaReM’s Southeast Asian markets and beyond. This partnership on RippleNet provides our customers a one-stop shop experience, including the ability to send payments and access new  suppliers across more than 60 markets through xVia - a simple API connection.”

Asheesh Birla, Senior Vice President of Product at Ripple said:

“RippleNet is the only enterprise blockchain network of its kind. By joining the network, financial institutions can instantly access other RippleNet members, enabling instant, low-cost payments services into new markets.  The BeeTech-InstaReM collaboration is a great example of this and will help their business customers make inroads into new markets across Southeast Asia, South America and more. ”