TransferTo Partners with Stellar (XLM) Facilitating International Money Transfers
The good news for the Stellar network and Stellar Lumens (XLM) holders keeps on coming. TransferTo, a leading B2B mobile payment network and airtime hub serving Western Union, 7 Eleven, Paypal, MoneyGram and more, has partnered with the Stellar Foundation in order to facilitate cross-border mobile payments on the Stellar network.
— Lisa Nestor (@nestorious828) July 25, 2018
Connecting mobile operators and financial institutions globally, TransferTo links over 4.5 billion mobile users through partnerships with more than 400 mobile operators including Safaricom, Orange and Vodafone. Regulated by the UK’s Financial Conduct Authority, the company provides business partners with a global compliance framework for all relevant regulatory requirements, enabling thousands of businesses in over 100 countries to offer real-time mobile money and airtime transfers to their customers.
In a statement from Lisa Nestor, Director of Partnerships at Stellar.org:
TransferTo is a leader and innovator in the remittance space, and has extensive experience and reach in emerging markets. We’re thrilled to be partnering with TransferTo to offer an expanded network for our current and future partners, as well as continue to drive greater financial inclusion for the underbanked.”
With cryptocoinspy having only just published an article on the future potential of the Stellar network, this news serves as further proof of the industry-ready nature of the protocol. Indeed, a press statement by TransferTo praises the blockchain’s strengths, particularly in regards to cross-border settlements and instant clearing between banks and payment gateways.
By integrating with Stellar, TransferTo will enable a more seamless and efficient settlement method between its network partners.” – TransferTo
Such an established and regulated B2B partnership will serve as a huge validation of Stellar’s credentials, technology and business-worthy acumen. It seems that the critical mass of positive sentiment building up for this blockchain and cryptocurrency won’t be able to hold for much longer.