EMQ Offers High-Value Settlements In Japan

EMQ, a provider of global financial settlement services, has begun letting businesses around the world transfer up to roughly $280,000 directly into banks in Japan, the company announced in a news release.

“Japan, the third-largest economy in the world, is an important market in our global growth strategy as we continue to see encouraging signs of recovery across the region amidst the new normal. For global businesses, they will require a network partner like EMQ with international capabilities and local expertise to ensure prompt payments in local currencies in order to scale across multiple markets,” Max Liu, co-founder and chief executive of EMQ, said in a prepared statement. “Our expanded capabilities across Japan complement our efforts in providing the most reliable, flexible and cost-efficient cross-border solutions for our customers as we continue to optimize our global network with the most comprehensive service levels.”

EMQ already operates in Japan. In today’s announcement, it called the new limit on direct transfers a “major enhancement” of its offerings in the country.

International settlements are an area of considerable concern among finance experts, as a number of them have noted in recent years that they can be slow, inefficient and expensive for individuals and businesses – especially when compared to modern systems for moving funds within industrialized countries.

Singaporean bankers and technology developers, for example, have called for the widespread availability of remittance systems or applications that make it easy for the country’s huge population of foreign-born workers to send money to their home countries.

EMQ didn’t stipulate in Wednesday’s news release which markets or product enhancements might be next, but said that additional “real-time” services will be available in new geographies by the end of the calendar year 2020. “As a trusted network provider for the global communities, we are continuously expanding and enhancing our global payout capabilities, while relentlessly pursuing operational excellence to best support our customers,” Liu said.