September 12, 2022 - Future FinTech Group Inc (FTFT), a blockchain application technology developer and fintech service provider, announced that FTFT Labs, a wholly owned subsidiary, has teamed up with Currency Cloud Inc, a subsidiary of Visa and a global payment platform which is registered with FinCen and is licensed for money transmission in various states in the US.
They will launch the remittance app Tempo to offer US-based immigrants and others a way to send money from the US to 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.
By working with Currencycloud and other service providers, FTFT Labs can provide its customers with a multicurrency digital wallet that makes sending money to the aforementioned countries easier and more cost-effective than many other remittance services who charge high fees per transfer.
By adding new features to the app, FTFT Labs aims to bring remittance services to US immigrants.
Sean Liu, CEO of FTFT Labs, said of the launch, "Tempo represents an easy, fast and secure way to transfer money cross-border. Working with Currencycloud and using the breadth of its services, it allows us to offer our customers a seamless product from start to finish. We are confident we are making remittance a seamless process for our end users."
Lewis Nurcombe, Vice President Sales, Currencycloud commented, "Migrants in the US should be able to send money cross-border without friction and without prohibitive costs. 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."
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