Future FinTech Unit Collabs With Currencycloud on Remittance App

Future FinTech Labs, a subsidiary of blockchain player Future FinTech (FTFT), and Currencycloud, a global payments platform owned by Visa and licensed for money transmission in a number of U.S. states, are working together on a new remittance app.

Called Tempo, the app is designed to allow easy remittance sending from the United States to recipients in North America (Canada and Mexico), Europe (Austria, Belgium, Czech Republic, France, Germany, Hungary, Italy, Poland, Portugal, Spain, Sweden and the United Kingdom), Australia, India and the Philippines, according to a Monday (Sept. 12) press release.

“Tempo represents an easy, fast and secure way to transfer money cross-border,” Sean Liu, chief executive of FTFT Labs, said in the release. Working with Currencycloud has let his company “offer our customers a seamless product from start to finish,” he said.

Tempo is available from the Apple and Android app stores.

The vehicle for making the easy transfers possible is a multi-currency digital wallet, today’s announcement states. Among its features are easy access to customer service help.

FTFT Labs plans to be “continuously adding new features to the app,” per the release.

“Migrants in the US should be able to send money cross-border without friction and without prohibitive costs,” Currencycloud Vice President of Sales Lewis Nurcombe said in the release. “A fintech company like Future FinTech Labs understands the needs of working people wanting to send money to family and friends, and as such is successfully re-imagining how money flows for this huge market.”

Currencycloud says it has processed more than $100 billion in transactions involving 180 countries since the company’s 2012 launch.

Last week, Future FinTech announced one if its subsidiaries is moving forward with plans to acquire a Korean financial services company that specializes in providing online brokerage services. Details of the transaction are to be finalized following the completion of due diligence, according to a press release.