What is InstaRem? InstaRem Review, Features

InstaRem is a leading digital cross-border payments company in Singapore, simplifying the way users – whether consumers, SMEs or financial institutions – spend, send and receive money globally.

About InstaRem

• InstaRem was founded by Indian entrepreneur Prajit Nanu in 2014 and is headquartered in Singapore. It is a cross-border payment service provider that provides remittance services directly between the bank accounts of the remitter and the recipient. It has licenses and offices in Singapore, Australia, Malaysia, Hong Kong, India, the United States, Canada and across Europe.
• InstaRem promises to complete transactions within 24 hours and charges a commission of less than 1%.
• InstaRem relies on local medium-sized banks, which have their own currency exchange business. For example, when a bank wants to exchange $100 million for euros, it can also take InstaRem's $500,000 with it. Medium-sized banks are more efficient in handling currency exchange. These banks are willing to cooperate with InstaRem because they think the latter can bring more potential transaction volume.
• As of March 2016, InstaRem has obtained financial licenses in parts of the United States, Australia, Hong Kong, Canada, Singapore, Malaysia, Japan, Luxembourg and other places. InstaRem said that they will focus on developing the Asian market next.