28 February 2017

Blockchain-powered settlement network to waive fees for transfers to Singapore in 2017

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.

OKLink 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 Singapore today.”

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 settlement network.


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.