Roxe Inc. Partners with Onchain Custodian to Launch Pilot Program of Roxe Network

Onchain Custodian to Test Roxe APIs for Integration of Roxe Network with Bank Customers Across the Globe

NEW YORK — Roxe Inc., a next-generation, open global payment network, today announced that Singapore-based Onchain Custodian will begin a pilot program to test the integration of Roxe instant settlement network. The Roxe network is designed to save financial institutions significant time and costs by using blockchain technology to provide highly reliable, secure, and real-time clearing and cross-border settlement of payments and remittances, traditional assets, and digital assets.

On the heels of another recent pilot program with ECS Fin, the news continues Roxe’s momentum by expanding into APAC and is another step forward in the integration of traditional finance with decentralized technologies. Roxe is focused on connecting centralized financial institutions with decentralized networks to provide simple, fast, and flexible global trading, liquidity, and settlement solutions for trading institutions, digital asset exchanges, and banks.

“APAC is a key growth market for us to continue leading the industry shift from a traditional account model to a new digital asset paradigm,” said Haohan Xu, CEO of Roxe Inc. “Today’s international payment settlement systems are too slow, unreliable, and expensive. Our partnership with Onchain Custodian can enable its bank customers to remove barriers of time, geography, and currency so that financial value can move much faster, more reliably and at much lower costs anywhere in the world.”

Through the Roxe global instant settlement network’s one-to-many connection, existing and future bank customers of Onchain will be able to subscribe to the Roxe network service bureau via Onchain’s SAFE digital asset custody platform.

“Our partnership with Roxe Inc. reflects our ongoing accomplishments in bringing enterprise-grade trust and security to the APAC digital asset market,” said Alexandre Kech, CEO of Onchain. “For our customers, including funds, family offices and high-net-worth individuals, we have chosen to work with the Roxe network to enable custody and settlement for both domestic and cross-border payments.”

Onchain, the only Singapore-based digital asset custodian, is a fast-growing industry leader backed by premier investors DHVC, Fosun, and Sequoia Capital. Some of Onchain’s notable partners include Hedera Hasgraph, Neo, Ontology, BabelFinance, Switcheo, Xfers, Pacific Trustees and Zilliqa among others.

The Roxe network is designed to deliver settlement in seconds, instead of minutes or even days, amongst its member nodes on a permissioned blockchain network. Unlike previous approaches that attempted to enable clearing and settlement via the use of one digital asset, Roxe is designed to transfer and settle many different assets and asset classes. The Roxe network is currently designed to support USD and several major digital currencies, with a goal of supporting all G20 fiat currencies and all top 50 digital currencies.

About Roxe Inc.

Roxe is a next-generation, open global payment network. Roxe uses blockchain technology to unify fragmented global payment systems so that payment and remittance companies, digital asset exchanges, stablecoin issuers, banks, and consumers can make the fastest, least expensive, and most reliable payments anywhere in the world. Roxe removes barriers of time, geography, and currency so that financial value moves with unprecedented speed across the globe. The company’s smart payment technology automatically uses the best route for the lowest-cost payments. Powered by Roxe Chain, a hybrid blockchain purpose-built for payments and other value transfer applications, Roxe also empowers its partners to offer their end customers ultra-fast remittance and payments products. Roxe is designed to be the fundamental component of the global payments industry and is compatible with any traditional and digital financial system. For more information, visit https://www.roxe.io.

About Onchain Custodian

Headquartered in Singapore, Onchain Custodian is dedicated to building and operating a standardised, secure, insured, compliant and convenient solution for the safekeeping of institutional digital asset investments. With a secure multi-signature wallet, and institutional-grade controls and security measures, Onchain provides custody and open finance services to Asia’s elite funds, family offices and HNWIs. In partnership with IBM, Onchain secures client funds using a Level 4 Hardware Security Model (HSM) compared to the Level 3 HSM used in traditional banks today.

Originally published at https://www.apifiny.com on October 29, 2020.