OKLink, the global settlement platform, has announced the first completely free corridor for remittances. Transfers of up to US$100,000 per month into Singapore will be free for 2017, the compaany said.
previously charged 0.1% of the amount to make cross-border payments to
Singapore, while some companies charge as much as US$5 per transaction.
Jack Liu, Chief Strategy Officer at OKLink, said, “As
the world’s largest global settlement network powered by Blockchain, we
can conduct cross-border payments faster and at a cheaper rate as more
partners join the network. We believe that our initiative will make a
revolutionary impact on the global economy, especially for markets with a
high degree of overseas workers. There is no better alternative for
Launched in August 2016, OKLink
currently offers payouts to 40 countries across Asia, Europe, and the
Americas, and already has more than 100 partners on its network. As of
December 2016, OKLink had completed over 10,000 transactions via its
Transfers to Singapore can be made after registering an account. It can take under one business day for the payout to be deposited in the recipient's account.