Blockchain Firm Everest Teams With BRI Remittance To Enable Faster Cross-Border Payments For Indonesia-Europe Corridor

Blockchain Firm Everest Teams With BRI Remittance To Enable Faster Cross-Border Payments For Indonesia-Europe Corridor

April 6, 2020

Decentralized digital payments SaaS provider Everest has teamed with BRI Remittance to give Indonesians and Europeans the opportunity to seamlessly execute exchange of value across international borders.

Founded in 2017, Everest designed a solution to bring institutions or organizations lacking a transparent, decentralized, and digital ledger system into the 21st century digital economy. This is executed by providing the subjects of the institution with a digital identity, known as “EverID”, and a value exchange and storage mechanism called “EverWallet”. The institution’s exchange-of-value transactions are recorded to a massively scalable, and transparent digital ledger called “EverChain”. Together, the three work in unison to provide the institution, such as an NGO, bank, government, and hospital the power to exchange value, while also properly verifying user identity, with greater transparency.

BRI Remittance is one of subsidiary company of PT.Bank Rakyat Indonesia, the largest bank in the country, with the most vast office network branches, users and reach. BRI provides the remittance services from all over the world to Indonesia with the support of BRIfast system, which enables partners to perform remittance transaction on a fast, accurate, secure and trusted base.

The partnership is expected to drive business within the Indonesia-Europe corridor. The goal of the partnership is to offer users and institutions a digital commerce platform that combines licences and approvals by financial regulators, value exchange, identity verification, and compliance reporting. Everest will be BRI Bank’s partner for cross-border payments, Fx settlement and cash-in/cash-out services.

“BRI Remittance Company’s vision is to be the leading global money service provider,” said BRI Remittance Executive Director Gigieh Perkasa. “To accomplish this mission, we established joint cooperation with Everest, the leading solution combining KYC, AML, compliance, and digital money movement-all through an integrated blockchain platform. It is truly an honor to have developed this strategic partnership with Everest Network Ltd., which has a strong presence in the European market and is growing in Oceania.”

According to Everest, its four basic building blocks – the EverChain, EverID, EverWallet, and CRDT Token – offer the best of blockchain technology integrated to the established, trusted banking system. In addition to sending money to friends and relatives, the Everest platform allows senders to put conditions on the “money” sent, through blockchain smart contracts, so that it can only be used to pay bills, or top up mobile phone plans. Even users without a smartphone can be KYC’ed and receive money over the Everest platform.

“This partnership is a great opportunity for BRI-Bank and Everest to provide innovative, mobile financial services that are simple and secure, with reach to people across Indonesia, the broader region, and eventually the rest of the world,” said Everest CEO Bob Reid.

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