Portal for cross-border remittances
Remit money globally with blockchain technology
Remit money globally
Enable global remittances with no geographic restrictions
Doesn’t matter which remittance corridor. Utilising non-custodial wallets, you can power global remittances from day 1.
Power low-cost cross-border money transfers
Globally, fees for sending remittance costs at least $6 for an average amount of $200. Transferring funds on the blockchain lower those fees to $0.00.
Instant settlement
of remittances
Remittances can instantly settle on the blockchain from sender to receiver. No more T+4 international settlement times.
Recipients spend stablecoin or cash out into local currency
Using a secured credit card, recipients can spend their received digital dollars. Or leverage Portal’s off ramp providers to enable recipients to cash out into local currency.
Who’s it for?
Neobanks and Fintechs
Payment Providers
Payroll Companies
Enable global remittances with no restrictions
Expanding a remittance product can be operationally complex due to the need for local money transfer licenses (MTLs) and complicated operations required to disburse funds across multiple payment methods and geographies. This is expensive.
Portal’s embedded blockchain infrastructure abstracts this complexity away: you can enable recipients globally to receive funds that settles in a matter of seconds.
Low-cost money transfers across borders
Why not use a licensed provider to facilitate transfers, then?
Globally, sending remittance costs 6.18 percent of the average amount ($200) sent or $12.36*. More than 50% of these costs are from intermediary fees.
Transferring funds on the blockchain lower those fees to $0.00 for that same transaction.
Instant settlement of remittances
Funds settle between the sender and recipient instantly 24/7 on the blockchain including the weekends. Forget waiting up to T+5 business days to settle these funds.
Spend stablecoins or cash out in local currency
Migrants usually remit money home to their family and friends in emerging markets. But how do their recipients cash out stablecoins?
Leveraging a secured credit card, recipients can spend their received digital dollars or cash out their funds into local currency. With Portal’s in-built off-ramp providers, recipients can cash out stablecoin into local currency.
