Globiance and Impel announce strategic partnership

The new alliance offers blockchain-based financial messaging and real-time settlement for traditional banks.

The new alliance offers blockchain-based financial messaging and real-time settlement for traditional banks.

Impel and Globiance are excited to announce a memorandum of understanding between Oliver Marco La Rosa, founder and CEO of Globiance, and Troy S. Wood, founder and CEO of Impel. The MoU creates a mutually acceptable partnership to integrate blockchain technology into Globiance’s traditional banking services. This will improve the customer experience and security, and also deliver substantial operational cost savings.

Globiance is a pioneer in the sector with the integration of Impel’s ISO 20022 financial messaging. This messaging standard is already available in more than 70 countries and will be rolled out in the United States before 2025. Globiance is integrating Impel’s API with the capability for instant settlement through the use of $XDC. This is the native coin of the XDC network and, like Globiance’s own token $GBEX, is part of the XRC-20 standard.

Globiance and Impel projects run on the XDC network, a Layer 1 blockchain that is a highly optimized and customized Ethereum fork. The network offers major advantages like near-zero-fee transactions and uses delegated proof-of-stake (XDPoS) for consensus. XDC uses virtually no energy and enables blazing-fast processing with two-second transaction times and 2,000 transactions per second. The hybrid XDC network features public and private domains and cross-blockchain compatibility with its smart contracts. The blockchain is built on the Ethereum Virtual Machine (EVM), making migrations of projects to the XDC network a breeze.

Lightning-fast and secure transactions

Security is Impel’s top priority. That’s why Impel routes financial transactions through a highly secure API that uses a Layer 2 solution to prevent data leaks to third parties. It’s built by a team with decades of experience in information technology and delivering secure tech infrastructure for banks and fintechs.

Impel charges no setup fees, annual membership fees, or fees for using financial messaging. The only costs for banks and financial institutions are the network’s transaction fees (also called gas). Sending messages and payments costs only a fraction of a cent (US$0.00001) per transaction. Another notable feature is that financial transactions can be bundled into a single message. That means you can send multiple messages in one transaction, tailoring it to the needs of the parties involved.

Impel offers a self-serve ISO 20022 messaging demo. This lets you create and send on the XDC mainnet. The demo is available on Impel’s official homepage.

What exactly are Globiance and Impel?

Globiance is a full banking and exchange platform. The platform includes payment gateways, banking services, a stablecoin, and a centralized and decentralized marketplace. Globiance serves both business and retail customers across 5 continents and has offices in 13 countries. Network users have access to many different currencies through crypto- and fiat wallets. In addition, Globiance’s personal banking or payments card is a great way to access cryptocurrencies, make purchases, perform transactions, earn rewards, and more. The platform’s deflationary token, GBEX, is Globiance’s native token and, like Globiance itself, built on the revolutionary XDC network.

Impel is an innovative fintech company. It uses blockchain technology for financial messaging and real-time settlement. It also provides a bridge to the R3 Corda platform for forward-thinking banks and fintechs. Impel was created to offer a cost-effective alternative to traditional solutions like SWIFT and SEPA. Impel’s services run on the XDC network, a decentralized and enterprise-grade hybrid blockchain. This enables the use of $XDC and XRC-20 tokens for secure and fast transmission of financial messages.

Additionally, Impel enables strong security and real-time processing of payments, instead of the current two-day norm of the central banking system. Impel’s financial messaging complies with ISO 20022, meaning there are no costs for sending messages or payments beyond the near-zero gas. Through a bridge to the R3 Corda platform, $XDC or XRC-20 tokens reach the public Corda network where they can be used as a means of payment within the Corda ecosystem. Financial institutions can use Impel as a catalyst to strategically transform their business and unlock additional value opportunities enabled by the new standard. More information is on Impel’s official homepage.