180
Fashion Jobs
SAMSOE
Account Manager no (Menswear)
Permanent · OSLO
BEST SELLER
Bestseller Søker Business Controller Til Vero Moda
Permanent · OSLO
ABBOTT
Territory Manager
Permanent ·
NEW YORKER
Butikkselger 100% Til New Yorker i Bergen
Permanent · BERGEN
H&M
Sales Advisor, Deltid - Metro Senter, Lørenskog
Permanent ·
H&M
Sales Advisor, Deltid - Amfi Kanebogen, Harstad
Permanent · HARSTAD
H&M
Sales Advisor, Deltid 80% (Vikariat) - h&m Torgkvartalet, Stjørdal
Permanent · STJØRDAL
H&M
Sales Advisor (Sommerassistenter) - Strandtorget, Lillehammer
Permanent · LILLEHAMMER
H&M
Sales Advisor (Sommerassistenter) - Nordbyen Kjøpesenter, Larvik
Permanent · LARVIK
H&M
Sales Advisor (Sommerassistenter) - Farmanstedet, Tønsberg
Permanent · TØNSBERG
H&M
Sales Advisor, Deltid (Vikariat) - Alti Mandal
Permanent · MANDAL
ZIZZI
no: Salgsassistent. 20% Vikariat
Permanent · STRØMMEN
NEW YORKER
Ekstrahjelp/Sommerhjelp Til New Yorker i Hamar
Permanent · HAMAR
TOMMY HILFIGER
Tommy Hilfiger is Looking For a Sales Assistant (Full Time) For Our Outlet Store, Vestby
Permanent ·
TOMMY HILFIGER
Stockroom Manager, Tommy Hilfiger - Vestby Outlet
Permanent ·
POPKEN FASHION GMBH
Social Media Manager (M/W/D) - Norwegian Market (Freelancer)
Permanent · OSLO
POPKEN FASHION GMBH
Copywriter/Translator - Norwegian Market (Freelancer)
Permanent · OSLO
PANDORA
Sales Assistant Part Time (M/F/X) - Sandvika Storsenter
Permanent · SANDVIKA
JACK & JONES
Jack & Jones Lillehammer Strandtorget Søker Deltid 80%
Permanent · LILLEHAMMER
H&M
Sales Advisor (Sommerassistent) - Kvadrat Kjøpesenter, Sandnes
Permanent · SANDNES
JIMMY CHOO
Sales Associate - Oslo - Norway
Permanent · OSLO
H&M
Sales Advisor (h&m Home) - Karl Johan, Oslo
Permanent · OSLO
By
Reuters
Published
Apr 5, 2017
Reading time
2 minutes
Download
Download the article
Print
Text size

U.S. blockchain company Wyre acquires Chinese payments platform

By
Reuters
Published
Apr 5, 2017

San Francisco startup Wyre Inc, a cross-border payments firm, has acquired a Beijing-based platform, Chief Executive Michael Dunworth told Reuters on Tuesday, in what he said was the first acquisition by a U.S. company of a Chinese blockchain business in the corporate payments space.


"We're focused on payments that are fast as email going bank to bank, and to other payments platforms," said Wyre CEO, Michael Dunworth - Remitsy


Wyre's purchase of Remitsy strengthens the U.S. firm's push into the $500 billion (£401.83 billion) U.S.-China business payments market.

Dunworth declined to discuss terms of the cash and equity deal. Negotiations started in February, he said.

When Remitsy is fully integrated, U.S.-China business payments will be processed in a few hours, Dunworth said in an interview. Currently, payments are completed within three to five business days using other payments processors, he said.

"We're focused on payments that are fast as email going bank to bank, and to other payments platforms."

Wyre and Remitsy are primarily focused on business payments between the United States and China. Both companies are enabled by blockchain, a ledger of transactions that first emerged as the software underpinning bitcoin and is maintained by a network of computers.

Blockchain has become the most sought-after technology in the corporate and financial sector, with the world's largest banks and companies in a mad dash to adopt it.

Remitsy has partnerships with well-known vendors such as Alipay, launched in 2004 by Alibaba Group Holding Ltd and its founder, Jack Ma. The acquisition allows Wyre to incorporate those partnerships into its own platform and thus bolster its U.S.-China business, Dunworth said.

"It's the first time any Wyre customer will be able to provide pay-out in China via Alipay," he said. "Adding Alipay to our platform would be a huge benefit."

Wyre's payment volume in March 2016 was $50 million. With the acquisition, transactions processed would increase to $70 million-$75 million over the next few months, Dunworth said. Wyre currently has 1,000 customers.

Remitsy's co-founders will join the Wyre team and lead the company's growth and local operations in China.

Wyre raised $5.8 million in capital late last year. The funding round was led by Chinese venture firm Amphora Capital. Other investors include Chinese payments company Baofoo.com and 9fBank.

Draper Associates and Digital Currency Group (DCG) are also investors in the company. Draper Associates was founded by billionaire investor Tim Draper, while DCG was founded by Barry Silbert, one of the first investors to bring bitcoin to the institutional investing market.

© Thomson Reuters 2024 All rights reserved.