immpel and Globiance are pleased to announce a Memorandum of Understanding between Globiance Founder and CEO Oliver Marco La Rosa and Impel Founder and CEO Troy S. Wood. The MoU establishes an amicable partnership to integrate blockchain technology into Globiance’s traditional banking services. This improves the customer experience and security and also leads to significant savings in operating costs.
Globiance is an industry pioneer with the integration of Impel’s ISO 20022 financial messaging. This messaging standard is already available in more than 70 countries and will be implemented in the United States before 2025. Globiance integrates Impel’s API with instant settlement capability using $XDC. This is the native coin of the XDC network and, like Globiance’s own token $GBEX or the network’s stablecoins, belongs to the XRC-20 standard.
Globiance and Impel’s projects run on the XDC network, a Layer 1 blockchain that is a highly optimized and custom fork of Ethereum. The network offers significant benefits, such as near-free transactions, and finds consensus through delegated Proof-of-Stake (XDPoS). XDC thus consumes almost no energy and enables lightning-fast processing with transaction times of two seconds and 2000 transactions per second. The hybrid XDC network is equipped with public and private areas and offers cross-blockchain compatibility with its smart contracts. The blockchain is based on the Ethereum Virtual Machine (EVM), which makes migrations of projects to the XDC network very easy.
Lightning fast and secure transactions
Safety comes first at Impel. That’s why Impel routes financial transactions through a highly secure API that uses a Layer 2 solution, preventing data from being shared with third parties. It was developed by a team with decades of experience in information technology and providing secure technological infrastructure for banks and fintech companies.
Impel does not charge for setup, annual memberships, or to use financial messaging. The only cost to banks and financial institutions is the transaction cost (aka gas) of the network. Sending messages and payments costs a fraction of a cent (US$0.00001) per transaction. Another special feature is that financial transactions can be summarized in just one message. This means that one can send multiple messages in one transaction, allowing for customization based on the needs and desires of the parties involved.
Impel offers a self-paced demo of ISO 20022 messaging. This enables creation and sending on the mainnet of the XDC network. The demo is on the official homepage of Impel available.
What exactly is Globiance and Impel?
Globiance is a complete banking and exchange platform. The platform has payment interfaces, banking services, stablecoin and a centralized and decentralized marketplace. In this way, Globiance offers services for corporate and private customers on 5 continents and has branches in 13 countries – with more planned. Network users have access to many different currencies through crypto and fiat wallets. In addition, the Globiance personal bank/debit card is a great way to access cryptocurrencies, make purchases, make transactions, earn rewards and more. The platform’s deflationary token, GBEX, is Globiance’s own token and, like Globiance itself, is built on the revolutionary XDC network.
immpel is an innovative fintech company. Blockchain technology is used for financial messaging and instant transaction processing. In addition, it provides a bridge to the R3 Corda platform for forward-thinking banks and fintech companies. Impel was created to offer a cost-effective alternative to traditional solutions such as SWIFT and SEPA. Impel’s services run on the XDC network, a decentralized and enterprise-ready hybrid blockchain. Thus, $XDC and XRC-20 tokens enable the safe and fast sending of financial messages.
Furthermore, Impel enables outstanding security and real-time payment processing instead of the current 2-day standard of the central banking system. Impel’s financial messages comply with the ISO 20022 standard, which means there are no additional fees for sending messages or payments other than almost free gas. Through a bridge to the R3 Corda platform, $XDC or XRC-20 tokens are brought to the public Corda network and can be used there 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 creation opportunities enabled by the new standard. You can find out more about this on the official homepage of Impel.
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