#United States #New York #Fireblocks #Zepz #WorldRemit

Fireblocks and Zepz Join Forces to Revolutionize Remittances

In a significant advancement in the field of digital payments, Zepz, the global payments conglomerate behind WorldRemit and Sendwave, has announced a partnership with Fireblocks, an industry leader in securing digital asset transactions. This collaboration aims to harness Fireblocks' enterprise platform to facilitate the widespread adoption of stablecoin remittances, particularly aimed at emerging markets—a crucial step in the future of digital finance.

Streamlined Payments for Millions

Currently serving over 9 million users across 130 countries, WorldRemit and Sendwave are set toprovide their customers with improved cross-border payment solutions. Zepz intends to utilize Fireblocks’ secure treasury and settlement infrastructure to significantly scale up stablecoin remittances, thereby improving payment speed, reducing costs, and enhancing the transparency of transactions. Mark Lenhard, CEO of WorldRemit, highlighted that "Remittances are lifelines," emphasizing the necessity of a fast, affordable payment system for families relying on these services.

A Growing Market Opportunity

The global remittance market is projected to reach $895 billion by 2025. Still, many traditional remittance channels remain slow and expensive, often taking days to process transactions and burdening users with high fees. With over 280 million migrants worldwide depending on remittances, integrating stablecoins offers a promising solution to these inefficiencies. Fireblocks’ infrastructure enables the Zepz platform to safely store and manage digital assets, ensuring the compliance and operational control necessary for this venture.

Enhancing Efficiency and Reducing Costs

As part of this collaboration, Zepz will:

• - Utilize Fireblocks’ wallet infrastructure for secure digital asset management, ensuring efficient compliance across their global network.
• - Automate treasury operations and payment processes, leading to reduced operational risks and improved efficiency.
• - Enable real-time transaction settlements, which will enhance the speed and reliability of payments, making them more accessible for recipients in critical corridors across Africa, Asia, and Latin America. This approach aims to lower foreign exchange and intermediary costs, greatly benefiting senders and receivers alike.

Supported by Industry Leaders

The initiative received backing from a grant facilitated by the Solana Foundation, indicating a broader industry support for the integration of stablecoins into everyday finance. Michael Shaulov, Co-Founder and CEO of Fireblocks, referred to global remittances as a powerful real-world application for digital assets. He stated, "WorldRemit and Sendwave are showcasing how stablecoins can revitalize economies by streamlining the payment process on a large scale."

A Trusted Infrastructure for the Future

Fireblocks envisioned a future where secure, programmable digital currency supports a variety of experiences from institutional finance to consumer-level interactions. Their partnership with Zepz adds to their growing ecosystem of stablecoin innovators, alongside Bridge by Stripe, Checkout.com, Circle, and others, solidifying Fireblocks as a trusted infrastructure partner.

Together, Fireblocks and Zepz are setting the stage for a transformation in remittance landscapes, proving that blockchain technology can reshape how money is moved across borders, ultimately benefiting millions of people worldwide by providing faster, cheaper, and more transparent financial services.

About the Companies

Fireblocks is recognized as the gold standard in digital asset infrastructure, enabling businesses of various sizes to leverage blockchain technology securely. It processes transactions across 120+ blockchains, catering to thousands of organizations, including global payment providers and financial institutions.

Zepz powers the remittance services of both WorldRemit and Sendwave and aims to redefine how money is transferred globally. Their innovative digital solutions are crafted to eliminate financial barriers and improve global access to reliable financial tools.

With this collaboration, the future of remittances looks promising, marrying cutting-edge technology with critical financial services for the underserved populations around the globe.