Knox Wire just launched a real-time gross settlement (RTGS) system that supports instant international bank transfers. This new service connects over 30,000 banks and financial institutions worldwide in over 200 countries and jurisdictions. At first glance, it looks like the revolutionary system that the global payments industry has been expecting for years.

Knox Wire RTGS - More Speed, Less Hassle

Knox Wire is a fintech service looking to disrupt the market with innovative and affordable services. Straight out of the gates, it challenges the supremacy of already-established brands, such as RippleNet and Swift. Also, many financial analysts regard it as a promising new player in the payments system arena.

Recently, the company launched the Knox Wire network to support the settlement of cross-border transfers between banks. Its ground-breaking system employs a dual payment system that finalizes transactions between organizations instantly. Furthermore, it can link thousands of institutions from different countries simultaneously. As a result, it solves the problem of lengthy transactions that many wired transfer services have.

Knox Wire uses financial messaging to help complete international interbank transfers quickly. This new technology is a decisive step towards the mainstream adoption of decentralized financial solutions. Furthermore, it should soon establish a higher standard for wire transfer networks and settlement speed.

Currently, Knox Wire supports more than 150 currencies. Furthermore, the platform could perform worldwide interbank settlements in 2 seconds. However, the settlement speed could differ slightly depending on the present infrastructure in some regions.

Knox Wire Benefits

Knox Wire’s CEO, Stephen McCullah, sees the company as an instant performer on the RTGS market. Thanks to its new wire transfer network, Knox Wire can easily compete with more popular brands, including RippleNet and Swift.
Here are some of the brilliant benefits everyone gains from using Knox Wire:

You can send cross-border payments to 200 countries.
Send and receive money in no less than 150 currencies.
Enjoy a quick, bi-directional messaging system.
Rely on 24-Hour system support.
Witness real-time payments to participating institutions.
Access significant income potential.
Pay some of the lowest transaction costs in the industry.
No Upfront Integration Cost
Keep accounts safe thanks to a highly secure encrypted infrastructure.

Close to Mainstream Adoption

Knox Wire has evolved rapidly after its inception. The service has partnered up with more than a dozen financial institutions in a short span. Moreover, it has a request queue that has continued to grow since the company's first day on the market.

The sheer number of financial organizations seeking to implement Knox Wire is due to its convenient service. For instance, Knox establishes a complete onboarding process of a maximum of two weeks. Following this period, the two entities can seamlessly work error-free for customers.

Another great benefit that pushes Knox Wire towards mainstream adoption is its quick and easy installment. For example, banks looking to implement the service do not require special equipment or hardware. Also, the personnel do not need an intensive training program since the service is straightforward and user-friendly. Lastly, installing Knox Wire does not involve any upfront costs.

Final Thoughts

Knox Wire is new on the RTGS market. Still, it did not waste any time convincing tens of financial institutions to incorporate it. Many see its unique wire transfer network as a significant technological breakthrough for the industry.

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