Axletree and Roxe have partnered to deliver cross-border payments with blockchain technology, making use of the former’s marketplace and Roxe’s Instant Settlement Network.
With this partnership, Axeltree’s clients will have access to a payment note on the Roxe blockchain network, which can settle a payment in seconds. Clients do not need to use cryptocurrency to access the blockchain network.
Axletree company officials stated that banks are under pressure to deliver the experience of domestic payments across cross-border transactions and blockchain has the power to deliver that capability, while also reducing cost across the payments value chain.
Axletree delivers services across the financial transaction ecosystem for financial and non-financial institutions worldwide. It aims to solve challenges banks and corporates face while optimising their financial connectivity and payment processes.