B2B payments platform Veem is partnering with accounting software company Xero to provide cross-border payments to Xero customers via blockchain technology.
Since its 2014 debut, Veem has grown to provide services in 60 countries. It converts a sender’s funds into Bitcoin before exchanging it into the recipient’s requested currency, cutting out the middleman.
“Global platforms like Xero and Veem have a massive opportunity to eliminate the headaches small business owners face doing trade across borders, in turn helping their businesses thrive,” Xero executive Sid Maestre said.
(Learn more about Veem in this Bankless Times interview with co-founder and CEO Marwan Forzley)
It’s been a good 2017 so far for Veem. It raised $24 million from Silicon Valley Bank, Kleiner Perkins Caufield Byers, National Australia Bank Ventures, GV (formerly Google Ventures), and SBI Investment Co before announcing a partnership with Intuit QuickBooks.