Higlobe, a payment solution for global businesses and remote professionals, today announced a partnership with Triple-A, the digital currency payment institution, aimed at transforming the landscape for remote workers in the Philippines by providing instant, free payment transfers from the United States.
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Higlobe and Triple-A announced a partnership aimed at transforming the landscape for remote workers in the Philippines by providing instant, free payment transfers from the United States (Graphic: Business Wire)
Driven by the demand for new payment rails that cater to the evolving global workforce and their shared goal of simplifying cross-border payments, Higlobe and Triple-A’s partnership leverages the potential of stablecoins to offer freelancers and businesses a better alternative to traditional SWIFT-based cross-border payment services.
In recent years, particularly with the onset of the pandemic and the shift in work culture, remote work has experienced remarkable growth. Geography is no longer seen as a constraint in hiring talent. As such, freelancers have unparalleled access to remote opportunities while businesses fulfill needs in a highly cost-efficient manner.
In 2020, in the Philippines alone, as many as 1.5 million professionals were engaged in freelancing platforms, doing work such as content creation and customer service for local and foreign clients.
Yet, despite the global job market’s expansion, professionals abroad who wish to accept USD payments from US-based clients still face numerous hurdles posed by traditional payment methods. Often riddled with complicated processes, steep fees or unfavorable exchange rates, existing cross-border payment solutions ultimately result in remote workers receiving less money or missing out entirely on job opportunities that are attractive otherwise.
Higlobe changes the game by offering remote workers the flexibility to receive USD funds from their US-based employers through a dedicated US-receiving account. From there, users can transfer funds directly to their local bank account fee-free, paying only a guaranteed low exchange rate. Alternatively, users can opt to transfer their dollars to a virtual prepaid card, allowing them to conveniently spend funds locally or in the US.
“Our partnership with Triple-A signifies a leap forward in delivering instant, free global transfers from the US and accelerating cross-border payments for freelancers,” stated Teymour H. Farman-Farmaian, Co-founder and CEO of Higlobe. “Our mission is to move the world’s money instantly and at no cost, especially in this era when remote work has gained significant traction. This collaboration aligns with our commitment to revolutionize international payments, benefiting both freelancers and the businesses they work with. It also marks another step forward in our international expansion.”
Co-founded in 2020 by former Google and Spotify executive Farman-Farmaian and software engineer Jeff Bolton, Higlobe is a payment service that allows its users to get paid by their US clients, near-instantly and at no cost. Users save up to 6% in transaction fees when compared to most incumbent services. With Triple-A’s expertise in digital currency payments and regulatory compliance, this collaboration promises an unparalleled payment experience for freelancers and exporters in the Philippines.
“We understand the complexities freelancers face in receiving payments, especially across borders,” remarked Eric Barbier, Founder and CEO of Triple-A. “Through this partnership, we aim to provide freelancers in the Philippines with an inexpensive and hassle-free experience when receiving USD payments from the US. Our robust, compliance-focused platform ensures secure and convenient transactions, further empowering the freelance and remote workforce.”
This partnership marks a milestone in empowering the global freelance workforce, emphasizing the significant role stablecoins can play in simplifying cross-border payments, optimizing treasury and cash management, and fostering financial inclusion for freelancers in emerging economies and beyond.
Starting today, remote workers in the Philippines interested in receiving payments from US business clients may now join the waitlist at higlobe.com.
About Triple-A:
Triple-A, the Digital Currency Payment Institution, enables businesses to pay and get paid in both traditional and digital currencies, including stablecoins, volatility-free.
From API to no-code integration, Triple-A’s frictionless, white-label digital currency payment solutions are designed to blend smoothly into existing business operations — all while upholding the highest standards of security and compliance.
Trusted by over 20,000 businesses, Triple-A makes accepting payments in traditional and digital currencies simple for businesses worldwide.
Triple-A is licensed by the Central Bank of Singapore, and in the EU by Banque de France’s ACPR. The company is also registered with the United States Financial Crimes Enforcement Network (FinCEN), and with Banque de France’s AMF as DASP.
For more information visit triple-a.io
About Higlobe, Inc.
Higlobe, Inc. is a financial technology company revolutionizing the world of cross-border payments. Higlobe follows security and governance best practices and publishes its SOC-2 attestation report on its website so that users can verify Higlobe’s adherence to best practice protocols. The company was founded in 2020 by Teymour H. Farman-Farmaian and Jeff Bolton who used their global experiences to build an international payment transfer solution that leverages stablecoins that are 1:1 backed by US dollars or US government treasury securities to transfer money quickly. Higlobe users can also load funds onto prepaid payment cards which can be used to pay their bills in the US or at home.
Higlobe’s investors include Battery Ventures, TTV Capital, FjLabs, Reciprocal Ventures, Paxos, DCG, and Raptor Group. Follow Higlobe on Instagram, Facebook, and LinkedIn.
Higlobe is registered as a Money Service Business (MSB) with the United States Department of Treasury’s Financial Crimes Enforcement Network (FinCEN).
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