SERVICE
StarLiX Token
StarLiX Token offers new opportunities
Financial Institutions
Financial Institutions which provide correspondent accounts for payment service providers in cross border jurisdictions can now, using StarLiX Token, have access to a new way to make payments for each other.
The closed-loop tokenised payments technology allows instant reconciliation and settlement of all transactions made. And at all times, users can be reassured that the necessary level of compliance checks have been made on each transaction. By linking the features offered under StarLiX CasS to those offered by StarLiX Token.
By providing in house correspondent banking, costs are reduced significantly, whilst at the same time opportunities for revenue generation are increased.
International manufacturing
Transfer pricing has been used extensively to calculate transaction costs within different business units in other parts of the world. Transfer pricing in itself causes headaches for financial directors in that the costs can vary due to currency volatility. StarLiX Token can be used as a method of transfer pricing without the need of transferring funds cross border.
Using a tokenisation system can be beneficial in two ways.
- Financial directors can set their own value for their own token. They set the value of the token depending on the business model. For example, a token can be set against a USD or can be set against a SDR (special drawing right) or any value of a token they deem appropriate.
- Using a tokenised system means that all transactions are trackable and, at any time, supervising staff can review the components of a transaction, and if necessary, share this information
Tokenised payment platform
StarLiX closed-loop tokenised payment platform enables banks and payment account service providers to have correspondent relationships in other countries where they do not have presence, bypassing correspondent banking, whilst achieving higher regulatory standards.
Tokenised payment platform as a service
Banks and payment account provider can offer their clients a platform to utilise each other’s network and facilitate payout in corridor countries.
Benefits
As a payment platform, StarLiX Token:
- is unique in having the capability to provide an enhanced messaging that provides significantly more information than SWIFT within your network,
- is a payments platform that bypasses correspondent banking and a marketplace for accessing different markets
- creating win-win opportunities for your clients, and
- allows participating firms to connect with partners, to facilitate payout in other countries by using the unique closed loop tokenised payment system and its token known as SLX.