nTokens
Blockchain Europe Partnerships Paytech South America

Tempo France and nTokens to Launch High-Tech Remittances on Stellar Blockchain

Tempo France, an international money transfer system based in France, and nTokens, a Brazilian compliant tokenisation company, have teamed up to launch high-tech remittances to Brazil. The partnership will utilise the Stellar blockchain technology to facilitate the remittance transfers.

The two fintech companies signed an agreement to launch transfers to Brazil from European Union countries. Customers can send money using the Tempo mobile application, while clients of over 170 Brazilian banks can receive the funds directly into their bank accounts.

The remittances will be secured using nTokens’ tokenisation technology, while the payout will be executed by PIX, the instant payment network of the Brazilian Central Bank. The integration of these two technologies ensures the highest possible speed, transparency and lowest costs in the remittances, according to Alla Zhedik, CEO for Tempo France.

“We consider our integration with the successful fintech company nTokens as a very important and innovative project because together we are bringing new technologies to the corridor,” said Zhedik.

“While sender and receiver deal with fiat money, an intermediate part of the transfer’s technological processing is the Armenotech IT solutions based on Stellar blockchain. This brings the highest possible speed, transparency and lowest costs in the remittances.”

Joint project

Both Tempo France and nTokens believe that this project is a serious technological breakthrough in the South American money transfer corridor, where Brazil accounts for nearly $5billion per annum. The two companies are looking to tap into the very promising remittance corridor and expect the volume of money transfers between the EU and Brazil to grow from five to 10 per cent in 2023.

Thomaz Teixeira, CEO for nTokens, said the project is a great example of how tokenisation can find its applications in every sphere of finance and everywhere. The partnership gives nTokens a great opportunity to demonstrate all the advantages of blockchain technology to the clients in remittances.

Tempo France has been actively implementing such types of projects in different parts of the world, particularly in Eastern Europe, 20 African countries and the Philippines. Recently, the company successfully completed pioneering projects bringing Stellar technologies to remittances in Europe and the Asia Pacific region.

nTokens, on the other hand, has been issuing tokenised BRL access since 2019 and is a participant of the Brazilian Central Bank’s Laboratory of Finance Innovation. The company acts as Stellar anchor while working intensively on major protocols and programmable finance.

This partnership between Tempo France and nTokens aims to stimulate more intensive integration of Stellar blockchain technology in the global sector, and they are optimistic that their collaboration will be a significant step forward in high-tech remittances.

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