OKLink makes US$100 million of cross-border transfers free for global remittance companies

On 12 October 2016, OKLink announced at the Global Payment Summit in Singapore that we will subsidize all fees on the first US$100,000 of cross-border transfers for every partner on the OKLink network, up to a total of US$100 million. The initiative incentivizes money transfer companies to offer their customers the cheapest, fastest, and most transparent global remittance services.

We currently offer payouts in fifteen countries across Asia, the Americas and Africa.

Participating companies on OKLink will be able to service individual payouts at the mid-market exchange rate for the first US$100,000 of transactions. Every transaction under US$1000 to a unique recipient will qualify for the subsidy. Eligible companies must sign up by December 31, 2016 and have until March 31, 2017 to complete the free transfers. We will rebate partners on a monthly basis.

Chief Strategy Officer Jack C. Liu comments on the initiative, “The world’s financial transfers run on antiquated technology built nearly half a century ago. Slow, costly, and favoring large sized transactions, these qualities are in contrast to the emerging payment needs of today’s ever-connected global economy. OKLink believes in a future where small-value cross-border transfers will be as simple, fast, and cheap as a text message.

“We are thrilled with the reception OKLink has received from industry leading companies and we hope to support their growth further with this incentive promotion.”

Coinsecure, Coins.ph, Rebit, MOIN.Inc, Coinone, Coinplug, Coincheck, Bitoex and BitPesa, are among the early companies to join the OKLink network and take advantage of this initiative.

For any questions about this program, please contact partner@oklink.com.

What OKLink partners are saying:

coinsecure-logo-oklink
Mohit Kalra, CEO of Coinsecure
in India, said, “India holds the largest share of remittances around the globe with over US$70 billion of inward remittance in 2015 at an average fee of 6 percent. What Coinsecure and OKLink plan to do – is going to be phenomenal.”

coins-logo-oklink
Ron Hose, CEO of Coins.ph
in the Philippines, said, “We are very excited to allow our existing user base of over 500,000 customers in South East Asia to remit funds to Japan, China and South Korea using OKLink’s platform, supporting our joint vision of providing cheaper cross-border payments and remittances across the region.“

rebit-logo-oklink
John Bailon, CEO of Rebit
in the Philippines, said, “Rebit first pioneered using Bitcoin for remittances. We’re very excited to join the OKLink network, whose resources and influence will create a strong alliance of companies committed to making Blockchain remittances work for any customer, anywhere in the world.”

moin-logo-oklink
Ian Suh, CEO of MOIN.Inc
in Korea, said, “OKLink has developed a new and revolutionary way to solve problems in the traditional money transfer system. MOIN is very proud to be a partner of OKLink. The partnership will enable Korean people to send money abroad cheaper, faster, and more conveniently. OKLink is going to become the future of global remittance, connecting the world much closer.”

coinone-logo-oklink
Wonhee Shin, CTO at Coinone
in Korea, said, “This is a very meaningful milestone for blockchain technology, which is closely watched by regulators and practitioners from all over the world. Finally the technology has moved away from the concept phase and into the real usage phase.”

coinplug-logo-oklink
Joon Sun Uhr, CEO of Coinplug
in Korea, said “Coinplug is very excited to work with OKLink in building the next generation global settlement network. We expect the market to grow significantly in micro-sized overseas remittances and we are preparing to be a dominant early mover with this partnership with OKLink.”

bluepan-logo-oklink

Lee Sanghyun, CEO of Bluepan, said, “Bluepan thinks highly of OKLink’s endeavor to apply blockchain technology to global remittance. Our low-cost and convenient remittance solution will transform the global remittance market. Bluepan wants to grow together with OKLink through many forms of partnership.”

coincheck-logo-oklink
Koichiro Wada, co-founder of Coincheck in Japan, said, “We are excited to partner with OKLink. We believe blockchain based remittance will have a huge impact on the finance industry especially for people who do small transactions on a regular basis.”

bitoex-logo-oklink
Titan Cheng, CEO of Bitoex
in Taiwan, said, “OKLink is an important partner for money transfer companies in Asia. Bitoex has more than 5000 locations in Taiwan. Our partnership with OKLink will help us expand the scope of our global remittance offerings and bring an unparalleled customer experience for the 600,000 expatriates in Taiwan.”

 

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