OdinDing launches OwlPay Cash cross-border remittance app, integrating Visa Direct to target the hundred-billion-dollar market

Taiwan-based blockchain technology company OBOOK Holdings (NASDAQ: OWLS) announced the official launch of its cross-border remittance app OwlPay Cash. The app has been submitted for review on the Apple App Store and Google Play, and is expected to be available for download once approved. The initial release supports five major remittance routes: Mexico, India, Colombia, Peru, and Argentina, with plans to expand to 26 regions worldwide.

(Background: Western Union, the leader in cross-border payments, will launch a stablecoin financial card and next year will issue its own stablecoin USDPT.)

(Additional context: OSL Group has launched the stablecoin USDGO, with an initial investment of $20 million to incentivize enterprise settlement and cross-border payments.)

According to reports, OBOOK Holdings, the operating entity of OwlTing Group (NASDAQ: OWLS), announced the official launch of its cross-border remittance app OwlPay Cash. The app has been submitted for approval and will be available on the US Apple App Store and Google Play once the platform approval process is complete.

OwlTing stated that OwlPay Cash brings enterprise-level advanced payment technology into everyday life, offering a faster, more transparent, and more efficient remittance experience for the $230 billion US cross-border remittance market.

First Phase Focuses on Five Major Routes

OwlPay Cash’s initial service covers five high-demand remittance markets: Mexico, India, Colombia, Peru, and Argentina. It will gradually expand to 26 major regions globally. Using Visa Direct technology, the service supports direct transfers in local currency to recipients’ designated bank accounts, eliminating the cumbersome process of traditional international wire transfers.

Official data shows that the total annual remittance volume from the US to these five markets exceeds $100 billion. Even capturing just 1% of this market, OwlPay Cash could process $1 billion in transactions annually. In 2024, remittances from the US to Mexico are estimated to reach $62.5 billion, accounting for over 3.5% of Mexico’s GDP.

App Focuses on “What You See Is What You Get”

In terms of features, OwlPay Cash directly connects to digital payment networks, eliminating intermediary bank fees. It offers an in-app dynamic calculator that allows users to preview real-time exchange rates and the exact amount recipients will receive before executing transactions. For recurring remittance needs, the app also provides intelligent recipient management and easy repeat transfers.

OwlTing Group founder and CEO Wang Jun-kai said:

The remittance market is large and demand is steady, but structurally it has long lacked efficiency. We are tapping into this $230 billion opportunity, providing enterprise-level favorable exchange rates to everyday users. Protecting every penny earned through hard work and building a high-growth financial product are our core goals.