Blockchain helping Veem simplify international money transfers

Marwan Forzely wants international wire and bank transfers to be as simple as buying a latte at Starbucks, and as the cofounder and CEO of Veem, he’s working toward that goal every day.

However you pay for your morning cup, you don’t think too hard about it or all of the little processes going on behind the scene to move the six bucks from your account to Starbucks’.

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“Those bank fees are based on a technology designed in a different era of commerce that was heavily domestic,” Mr. Forzley explained. “Now the economy is more global, with buyers and suppliers often not in the same country.

“As business becomes increasingly global, removing friction becomes more and more important.”