Roxe Payment Protocol uses a key innovation -- decentralized finance (DeFi) liquidity pools -- to deliver among the least expensive, fastest, and most transparent foreign exchange (FX) rates and cross-border payments.

Too many intermediary banks, forex market makers and brokers make today’s FX transactions too expensive, inefficient, and opaque. Roxe Payment Protocol solves this problem by using an automated market maker (AMM) on a smart contract to execute automatic transactions between digital fiats. Instead of a traditional order book, RPP uses AMM liquidity pools to provide liquidity for faster, less expensive, and more transparent payments.

“Payment remitters are forced to markup their FX costs from costly FX brokers in the traditional financial system,” said Josh Li, chief business officer of Roxe. “RPP empowers remitters to offer much lower remittance fees to their end customers and to act as ‘market makers’ to earn returns on their idle capital. RPP is a form of liquidity crowdsourcing that significantly reduces the costs of forex trading. RPP also enables faster, cross-border payments through our decentralized, global network of interconnected banks, payment providers, remittance companies and other financial institutions.”

Key Benefits -- Roxe Payment Protocol
RPP powers currency exchange services. Key benefits include:
* More Transparent -- better transparency of cost and counterparty identities in real time.
* High Reliability -- point-to-point payment status tracking with real-time updates.
* Low Cost -- automatic selection of the best route for the lowest FX rate with up to 50 percent savings on FX fees for typical cross-border payments Better * * Better Security -- decentralized, blockchain settlement ensures that payment information is immutable and complete
* Fast -- payments made in seconds instead of hours or days.


The Roxe payment network is currently designed to support USD, several major fiat currencies, and fiat from select countries with large payment and remittance markets such as the United Kingdom, European Union, Hong Kong, India, Philippines, Mexico, and Brazil among others.

Roxe Ecosystem
RPP is an important part of the Roxe smart payment ecosystem, which consists of four (4) layers with various entities:

Consensus Layer -- Roxe Chain
RPP is built on Roxe Chain, a hybrid blockchain purpose-built for payments. Roxe Chain connects highly fragmented financial systems, assets, and markets to make global instant settlement and cross-border payments faster, more reliable, and less expensive. ROC is the primary digital utility token that fuels the operation of Roxe Chain and the entire Roxe ecosystem. Supernodes like Apifiny, Mercurity Fintech Holding (Nasdaq: MFH), DaoTrust, ECS Fin, and Zero2First provide the computing power to ensure the Roxe Chain network operates efficiently. An overview of the financial and industry benefits and role of Roxe Chain supernodes can be accessed here. Institutions can apply to become a supernode here.

Liquidity Layer -- RPP and DeFi Protocols
The liquidity layer consists of Roxe Payment and other DeFi protocols like the Daollar protocol (below) that can run on Roxe Chain. To start, Roxe members can use RPP to contribute and benefit from two liquidity pools using USD, GBP and HKD: roUSD-roGBP and roUSD-roHKD. (See “Smart Ownership Records” below). In the coming months, many other liquidity pools with a multitude of fiat currencies will be added in markets supported by Roxe.

Daollar Protocol is the world's first algorithmic, central bank-modeled stablecoin protocol native to a fully decentralized, blockchain economy. Enabled by the Daollar protocol, the DO (pronounced “dough”) family of stablecoins (e.g, doUSD, doEUR, doGBP, etc) is designed to provide better price stability and FX rates for cross-border payments than existing fiat and digital asset-backed stablecoins. Unlike other stablecoins (eg, USDC, DAI, AMPL), DO is the protocol’s first algo stablecoin with no fiat attribute that’s fully decentralized, blockchain native, and has complete on-chain governance.

For a more complete overview of DO, read here. For details on the relationship between ROC and DO, read this post here.

Network Layer -- Roxe Instant Settlement Network (RISN)
Roxe Instant Settlement Network is a blockchain infrastructure that empowers exchanges, payment companies, banks, central banks and individuals to transfer fiat and digital currencies with other Roxe network members in seconds. Roxe member nodes get the speed and cost savings benefits from blockchain without the risk of directly transacting with cryptocurrencies.

Other solutions rely on a single, native currency to attempt to solve the inefficient, slow, and high-cost use of intermediate currencies in cross-border payments. In contrast, RISN uses a wide range of currencies -- by digitizing currency as “Smart Ownership” Records backed by actual fiat currency in a bank -- to ensure low volatility and low risk of FX rate loss.

Smart Ownership Records are digitized currency with digital payment instructions (e.g., roUSD, roEUR, etc) for Roxe members to quickly transfer fiat currency, reducing the number of transactions and therefore, saving significant costs. In addition, banks and other financial institutions do not need to pre-fund accounts since funds are immediately available.

Application Layer -- Roxe Pay and Roxe Commerce

Roxe Pay is a consumer mobile payment app that provides up to 30 percent, instant cash back on any purchase. The app is also the fastest, cheapest way to send money to anyone, anywhere using fiat currencies and digital gift cards, points, and other digital assets.

Roxe Commerce is a platform that allows businesses to accept and make online and in-store digital payments by scanning a simple QR code. Roxe merchants can select from a wide variety of instant payment options: mobile (AliPay, Google Pay, etc.), central bank digital currencies (CBDCs), digital assets, gift cards, and reward points.

Today’s news adds to Roxe’s recent momentum from other customer signings, including IPAY, a global online money transfer provider; Fairexpay, a global aggregator platform for cross-border payments; ECS Fin, a global bank infrastructure provider; Onchain Custodian, a leading crypto custody player in Asia; N2Xpress, a fast-growing, global remittance company; BuyUCoin, a leading digital asset exchange, and Aberdeen Capital Group, a business consulting firm that provides cross-border payment services.