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.
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.
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