MatchMove Joins IBM Blockchain World Wire

MatchMove Joins IBM Blockchain World Wire

Expanded Services Now Offered Through New Cross-Border Payments Network Supporting Real Time Payments and Foreign Exchange on the Stellar Protocol

Singapore, 19 March 2019 – MatchMove, one of the world’s fastest-growing and leading fintech companies, today announced it will join IBM Blockchain World Wire, a real time global payments network for regulated financial institutions, designed to optimise and accelerate foreign exchange and remittance services.

By connecting to the World Wire network, MatchMove will have access to a single unified network for foreign exchange and cross-border payments clearing and settlement built on blockchain technology and the Stellar public protocol. This will allow MatchMove to offer clients the ability to conduct transactions across additional currency corridors and provide access to new digital assets including stable coins and cryptocurrency using Stellar Lumens (XLM).

World Wire enables regulated financial institutions to expand their business ecosystems more rapidly, while improving financial inclusion for people around the world through highly secure, point-to-point payment transactions.

Shailesh Naik, Founder & CEO of MatchMove, said, “When real time cross border payments start within IBM Blockchain World Wire network, it will further enhance our B2B Send solution immensely. As the number of financial intermediaries and corridors grow within the network, our clients will be able to empower users around the world to send and receive digital money from anywhere to anywhere instantly and at a lower cost, with the security of underlying blockchain. This is how we use technologies to solve real-world problems everyday by making basic banking services accessible and simple for everyone.”

“Blockchain provides a unique technology for payments,” said Jesse Lund, Global Vice President, IBM Blockchain. “Using World Wire, participants like MatchMove can discover each other’s capabilities, negotiate FX rates, and transfer value in real time. This reduces the need for intermediaries and long durations for clearing and settlements – which ultimately can get money into consumers’ hands faster and more cost-effectively.”

The World Wire network is poised to support more than 50 countries, with 20+ currencies and more than 30 banking end points, with the network of financial institutions actively growing.

For more information about IBM Blockchain World Wire:

About MatchMove

MatchMove is one of the world’s fastest growing and most disruptive fintech companies in digital payments and next-generation banking.

MatchMove’s proprietary Banking Wallet OSTM enables ‘Banking As A Service’ and the capabilities of Spend, Send, LendTM within any app. The platform empowers businesses and their customers to Spend both online and offline easily and safely, via instantly issued prepaid cards on major card networks. Its Send capabilities include P2P domestic transfers, cross-border remittances, P2M and mass disbursements to global recipients. MatchMove platform further extends to Lend, where credit scores are assigned based on customers’ spending and sending patterns to offer customised lending solutions.

Envisioning a financially inclusive world as it wages war on cash, MatchMove’s solutions help enterprise clients digitise payments and give the financially underserved segments the empowerment to move their money anytime and anywhere.

MatchMove is licensed by the Monetary Authority of Singapore and authorised by leading card networks to issue virtual and physical cards directly to users in approved jurisdictions, or anywhere else in the world with partner banks.

The company has been recognised with international awards for being a promising and an innovative organisation, as well as for being a preferred employer.

MatchMove is headquartered in Singapore with offices in India, Indonesia, Vietnam and The Philippines.

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