ZED Network Partners with Interstellar to Service Money Transfer Operators on top of Stellar

ZED Network Partners with Interstellar to Service Money Transfer Operators on top of Stellar
14.09.2018 12:57 pm

ZED Network Partners with Interstellar to Service Money Transfer Operators on top of Stellar

Payments

Integrated global payments platform ZED Network today announced an agreement with Interstellar, a company that develops applications and infrastructure for the Stellar ecosystem with the aim to revolutionize the world of cross-border, cross-currency and cross-asset transactions by creating a universal global payment network.

Stellar connects banks, payment systems and people to move money quickly and at no cost.

ZED provides Money Transfer Operators (MTOs) with a comprehensive “remittance-in-a-box” solution including mobile and web apps, comprehensive back office support, and KYC/AML monitoring and reporting.  As part of the agreement, ZED will also provide MTOs with an instant settlement option on top of the Stellar Network.

“ZED Network and the team at Stellar and Interstellar share a vision for transforming the remittances sector by powering cross-border payments seamlessly and instantly,” said Alan Safahi, Founder and CEO of ZED Network. “We look forward to collaborating with Interstellar to significantly grow ZED Network’s worldwide reach.”

“We are very excited to partner with ZED Network to help accelerate the growth and adoption of the Stellar Network” said Paul Arnautoff, Head of Sales and Partnerships at Interstellar. “ZED provides a unique platform to help Money Transfer Operators immediately participate in the Stellar Network without any investments in technology or integrations. We're looking forward to working with ZED to expand our reach and provide a broader ecosystem of partners.”

ZED’s proprietary technology aims to address the imbalances and inequities in the MTO market. Executed over Stellar to a network of sending and receiving MTOs in multiple worldwide corridors, the ZED platform offers a single point of integration for MTOs for the sending and receiving of remittances including a wallet, web and mobile apps, the facility to exchange multiple currency pairs, and a robust back office with suite of analytics and reporting tools for compliance and monitoring. And on a societal level, ZED Network will reduce the $40+ billion in remittance fees currently charged - fees which disproportionately affect the world’s lowest wage earners.

Stellar is an open global protocol for payments enabling low cost, high access, and seamless multi-asset transactions. Interstellar enables forward-thinking financial entities, like ZED Network, to easily join the Stellar ecosystem.

Related News

Certify unveils procurement tool to improve spend management

Certify, a leading provider of financial management software, has launched Certify Purchasing, a new solution for finance professionals.  

It’s the first move into the... Read more »

Wirecard partners with Swatch to launch SwatchPAY!

Wirecard, the global innovation leader for digital financial technology, has signed a cooperation agreement with the leading watch manufacturer Swatch. 

In the future,... Read more »

CoinGate and Surfshark collaborate on cryptocurrency payments

Payment processing company CoinGate teamed up with a privacy service provider Surfshark for a pilot project of the long-anticipated Litecoin Lightning Network (LN) solution.... Read more »

Snoop Dogg invests in Klarna Swedish fintech unicorn

Snoop Dogg, the famous rapper has more lately reinvented himself as an investor, playing a role in specialist cannabis venture capital firm Casa Verde Capital.

Snoop,... Read more »

PrePay Solutions Partners with PayQuicker in USA

PrePay Solutions (PPS), Europe's leading digital banking and payments provider, has officially partnered with USA-... Read more »

CryptoCompare Publishes Monthly Exchange Review for December 2018

CryptoCompare, the global cryptocurrency market data provider, today published its December 2018 Exchange Review, offering institutional and retail investors insights into the... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App