ETHERLive
ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.

---

24hr ---
--%
Saturday Nov 25th 2017
RESOURCES

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More
SUBMIT

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story

Event

Submit an event for consideration on ETHNews

Submit Event

Explanation

Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
---
--%
Home
News
Etherlive
Ether Price Analysis
Resources
Events
Contact Us

Everex Uses Ethereum Blockchain For Financial Services

By

Danielle

Meegan

WriterETHNews.com

Using the technology will allow for cheaper and faster international remittances.

The virtual currency company Everex announced that it will use Ethereum to provide practical services for those who cannot access a financial institution.

The Thailand-based firm will work with banks, exchanges, and money service businesses to reduce or eliminate fees from international money transfers. The relationship will expand financial services to those around the world, allowing better access to their funds.

“Everex has identified the following priorities to address using their technology:

•Direct global remittances between developing countries;

•A peer-to-peer (P2P) online payments for e-commerce;

•Decentralized P2P exchanges for local currencies;

•0.27% transaction fees and settlement within seconds.”

Everex chose to associate with the Ethereum blockchain due to its ability to administer transparent transactions. The permanent public ledger will provide a sense of trust for the customers.

To enable better control over cross-border transactions and faster settlements, Everex created “Cryptocash”. The concept will digitize local fiat currency on the Ethereum blockchain, allowing for quicker transfers. Each Cryptocash will represent a country’s fiat currency, e.g. US Dollar (USDEX) or Philippines peso (PHPEX).

The technology will not only help with remittances, but it will make payments, crowdfunding, trading, and lending simpler. An app is already available for the services. Although, customers in Thailand will only have access. Plans to expand globally are in the works. 

Danielle Meegan

New Hampshire native, Danielle Meegan, is a writer based in Los Angeles. She has been published in a couple of sports and entertainment magazines and newspapers throughout the years and has dabbled with multiple virtual currency exchanges to understand the 'ins and outs' of trading. Danielle has invested in over 15 different virtual currencies, including Ether.

ETHNews is commited to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Everex, transactions or other Ethereum business and finance news.