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Higlobe and Triple-A’s strategic partnership aims to simplify cross-border payments for remote workers in the Philippines. The collaboration promises instant, fee-free USD payment transfers while solving the challenges freelancers and businesses face in a rapidly expanding global work environment.
Higlobe and Triple-A have teamed up to offer instant, fee-free USD payment transfers from the United States to the Philippines.
Higlobe, a payments solution for global businesses and remote professionals, announced a strategic partnership with digital currency payments institution Triple-A in a significant move to transform the payments landscape for remote workers in the Philippines. The collaboration aims to provide instant, fee-free payment transfers from the United States to freelancers and businesses in the Philippines, solving the challenges posed by traditional SWIFT-based cross-border payment methods.
The global shift toward remote work and the challenges of traditional cross-border payments
Remote working has witnessed unprecedented growth in recent years due to the pandemic and changes in work culture that have made geographic location irrelevant when recruiting talent. In the Philippines alone, freelancers are flocking to online platforms, with up to 1.5 million professionals engaging in a variety of remote work activities, including content creation and customer service for local and foreign clients.
But despite the growing global job market, professionals in the Philippines and other emerging economies who want to receive USD payments from U.S.-based clients face numerous obstacles. Existing cross-border payment solutions result in complex processes, high fees, and unfavorable exchange rates that result in remote workers losing income or missing out on job opportunities.
High Gloves The innovative solution aims to revolutionize this system by giving remote workers the flexibility to receive USD payments from their US-based employers through a dedicated US receiving account. From there, users can transfer funds directly to their local bank account with no fees and only have to pay a guaranteed low exchange rate. Alternatively, users can transfer dollars to a virtual prepaid card to conveniently access funds locally or in the United States.
High Glove Driving innovation in international payments
Teymour H. Farman-Farmian, co-founder and CEO of Higlobe; “Our mission is to move the world’s money instantly and for free, especially in this era when remote work is gaining significant attention,” he said, expressing his enthusiasm for the partnership. “This collaboration is consistent with our commitment to revolutionizing international payments and benefiting both freelancers and the businesses we work with.”
Higlobe was co-founded in 2020 by former Google and Spotify executives. Farman-Farmaian and software engineer Jeff Bolton has already been recognized for allowing users to receive payments almost instantly from US customers without transaction fees, potentially saving up to 6% compared to existing services.
partnership with Triple Afurther strengthens Higlobe’s position as a leader in digital currency payments and compliance. Eric Barbier, founder and CEO of Triple-A, emphasized the goal of providing freelancers in the Philippines with an affordable and hassle-free experience when receiving USD payments in the United States, saying: “Our powerful, compliance-focused platform is secure and convenient. The deal will further empower our freelance and remote workforce.”
The role of stablecoins in cross-border payments
This partnership marks an important milestone in empowering the global freelance workforce. Stablecoins play an important role in simplifying cross-border payments. Optimize financial and cash management and create financial inclusion for freelancers in emerging economies and beyond.
Starting today, remote workers in the Philippines interested in receiving payments from U.S. business clients can join the waiting list on Higlobe’s website.
The collaboration between Higlobe and Triple-A represents an important step toward making cross-border payments more accessible and cost-effective for remote professionals, ultimately benefiting both freelancers and businesses that rely on their services. As the world continues to embrace remote work, partnerships like these are likely to become increasingly important in facilitating the flow of funds across borders.
Also read: How is blockchain technology disrupting the freelance market?