RTGS.global, a fintech firm specialising in instant settlement, has added 23 currencies to its network. The move aims to make cross-border payments “as fast as domestic ones” for more customers, states the company in a press release.
RTGS.global’s cloud native software as a service (SaaS) platform allows banks and payment companies to connect to a single application programming interface (API). The network operates continuously and bypasses time zone cut-offs, correspondent chains, and business hour restrictions, thus reducing the friction of cross-border settlements.
The firm estimates that without real-time settlement, around US$3 trillion to US$5 trillion in payments are exposed to Herstatt risk daily.
One of RTGS.global’s key partners is TransferMate, a provider of embedded B2B payments infrastructure as a service. Leveraging its worldwide payment infrastructure, TransferMate enables clients of RTGS,global to access a big selection of major currencies and local domestic rails via just a single integration with the RTGS.global API.
Marcus Treacher, executive chairman and CEO of RTGS.global describes the firm’s network as a motorway “complete with all the major intersections and rules, so any bank or payment company can move money quickly, safely, and reliably”.
