Knox Wire is a clear testimony of how a new fintech company can disrupt the financial industry with revolutionary consequences. This up-and-coming financial service has only entered the cross-border payment sector, and it is already challenging its leaders. Through lower costs, faster transactions, and higher security, the Knox Wire Network can soon surpass RippleNet and Swift.
We are witnessing history in the making. Knox Wire is a new presence in the market but has already connected 30,000 financial institutions worldwide. That figure is increasing as we speak. So, without further ado, let’s find out what Knox Wire is all about!
What Makes Knox Wire Stand Out?
Knox Wire is a new Global RTGS (real-time gross settlement) and wire transfer system. It facilitates payments and same-day settlements for financial organizations in 200 countries. Furthermore, it allows them to engage in transactions in nearly 150 different currencies.
Knox Wire uses a DLT (distributed ledger technology) from Apollo Blockchain to build a resilient and highly efficient infrastructure. By using blockchain-based solutions, the platform ensures better security and faster operations. Above all, it allows participating institutions to surpass the common issues of centralized ledgers.
Knox Wire allows its collaborators to use an intermediary currency option, GSX or Gold Secured Currency. This way, they can maintain the value of their assets within the Knox Wire ecosystem.
Lastly, Knox Wire uses a dual payment system that allows participating institutions to complete transactions in seconds. The Knox Wire CEO, Stephen McCullah, believes that this high-performance solution will convince many financial providers to use it daily.
Knox Wire Benefits
- Transfer cross-border payments to 200 countries in 150 currencies
- A bi-directional messaging system
- System support is available 24/7 and 365 days a year
- Real-time payments between participating institutions
- Significant income possibilities
- Some of the lowest transaction costs anywhere
- No upfront onboarding fees
- A highly secure encrypted infrastructure
Are You Ready to Onboard Knox Wire?
Knox Wire is open to collaborations with all financial institutions on the planet. For instance, financial organizations like banks, credit unions, loan associations, brokerage firms, insurance and mortgage companies can quickly implement it.
You can get in touch with the Knox Wire team and find out the necessary steps for implementing this revolutionary service. The whole onboarding process should not last more than two weeks. This is a new improvement, considering that Swift, Knox Wire’s competitor, takes up to 12 months for implementation.
Additionally, when you onboard Knox Wire, you don’t pay upfront fees and don’t have to invest in hardware equipment. This way, even institutions with limited investment capital can implement Knox Wire’s solutions to boost the quality of their services.
The Knox Wire team consists of only financial experts and professional brokers. They share solid experience in the field after working with fortune 500 companies for years. Now, they invest all their know-how and resources into making the cross-border payment sector more lucrative for everyone.