RTGS.global’s atomic settlement solution will combine with Opal Transfer’s remittance solution to reduce the friction, risk and delay of foreign exchange money transfers made to and from Europe and beyond.
Through the partnership, Opal Transfer will benefit from real-time liquidity management among its own subsidiaries, meaning it no longer needs to rely on cumbersome correspondent banking and liquidity management which often requires local commercial loans to compensate for liquidity shortages. By using RTGS.global as the ultimate single intermediary settlement system with other established MTOs, Opal Transfer can deliver payments to new territories without the need to open new subsidiaries or apply for its own licenses. This allows them to focus on customer loyalty in the countries where they are already present.
Opal Transfer has established itself as a trusted remittance company with vast experience in foreign exchange money transfers. Its unique offering aligns with RTGS.global’s mission to transform how cross-border payments are made, and the partnership will see RTGS.global continue to reduce the risk and friction that has held back cross-border payments for decades, delivering a settlement service that shapes the international payment services of tomorrow.
Opal Transfer’s Managing Director, Gita Petkeviča, said: “As an ambitious business, it’s an exciting moment for us to sign a pilot with RTGS.global, in our opinion one of the world’s most progressive and forward-thinking fintech companies. The speed at which transactions are settled through the RTGS.global network has truly impressed us, and we have confidence that the platform can revolutionise our offering as we continue to scale. We look forward to working closely with the team and seeing the results of our partnership.”
RTGS.global has built a unique atomic settlement solution that transforms how cross-border payments are made, through multi-jurisdictional architecture which allows for true Payment-vs-Payment (PvP) settlement and streamlined cross-border payments. By enabling instantaneous movement of funds cross-border between financial institutions, RTGS.global directly connects key market participants from individual countries into a global settlement network, creating seamless interoperability across borders and currencies.
Tomas Pithart, Expert Advisor to the Board of Directors at RTGS.global, added: “We are proud to be at the centre of another significant milestone for the cross-border payments industry, which will demonstrate how RTGS.global’s instant atomic settlement solution can complement the specific capabilities of Money Transfer Operators and Payment Services Providers, to revolutionise cross-border payments through real-time liquidity management. Through our work with Opal Transfer, and other MTOs and PSPs set to agree pilots in the near future, we are excited to enter this next phase in our journey and prove how RTGS.global’s unique service can settle obligations resulting from FX trades and customer credit transfers in multiple currencies in a matter of seconds.”
About Opal Transfer
Opal Transfer is a London-based fintech company that proudly celebrates 21 years of facilitating seamless money transfers with care and speed, significantly enhancing the lives of immigrants abroad. Their state-of-the-art digital platform, user-friendly mobile application, and 24/7 availability ensure that sending money to loved ones is convenient and efficient. Supported by a multilingual call centre operating in three countries, Opal Transfer is committed to delivering exceptional service to hundreds of thousands of satisfied customers, making cross-border transactions smooth and reliable. The company is constantly growing and improving, taking its customers' demand for quality very seriously.
