Alipay's international remittance service saves 1.4 billion yen in one year. Will it become a rival to Ripple and SWIFT?
CICC Research’s international remittance service with Alipay
China’s major investment bank CICC Research has issued an evaluation report on AlipayHK, a blockchain-based international remittance service from Alipay.
The evaluation by CICC Research was reported by Global Coin Research, a Asia-focused cryptocurrency and blockchain news media outlet.
According to the outlet, CICC recently conducted a test of international remittance using AlipayHK for the first time and paid a portion of salaries to Filipino employees it hires.
CICC Research evaluates “AlipayHK” as follows.
【Japanese Translation】
The entire group under Hong Kong has 201,090 employees.
If all of them switch their salary payments to AlipayHK, they could save HK$100 million annually.
AlipayHK supports 24/7 remittance, accelerating international remittance speed.
Additionally, compared to the traditional international remittance standard SWIFT, it has a relative advantage in both time and cost.
Global Coin Research
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