Bitcoin Forum

Align Commerce, a San Francisco, Calif.-based cross-border payments service provider that exchanges a payer’s fiat currency into bitcoin, then exchanges it into the Align commerce logo 2payee’s currency, has raised $12.5 million in Series A funding by Kleiner Perkins Caufield & Byers, according to today’s Wall Street Journal.

Align Commerce’s money transfer model avoids the “cumbersome” bank wire process for payments, according to CEO Marwan Forzley, who started the company after serving as general manager at Western Union. The company can also offer features like tracking fund movement in real time and completing transactions faster and at less cost compared to banks.

Align Commerce allows small businesses to conduct transactions without dealing directly with bitcoin.

https://www.cryptocoinsnews.com/align-commerce-uses-bitcoin-facilitate-cross-border-payments-raises-12-5-million-series-funding/ (https://www.cryptocoinsnews.com/align-commerce-uses-bitcoin-facilitate-cross-border-payments-raises-12-5-million-series-funding/)

"Forzley said the company complies with banking regulations, including know-your-customer laws."
One reason Western Union charges high fee is the cost of regulatory requirement. If align commerce can comply with regulation and still charges less fee. It is good for remittance market.