Financial infrastructure company Suho I-O said on Thursday it will cooperate with small-value overseas remittance fintech Cross ENF to build a global remittance network and advance payment systems.

Suho I-O plans to combine its Ezys payment and settlement infrastructure solution with Cross ENF's remittance know-how. It will focus on minimising operational inefficiencies in existing overseas remittances, such as waiting times on weekends and holidays and the burden of deposits. The two companies plan to review payment-layer linkage options in various ways while putting stability first.

Suho I-O CEO Ji-su Park (박지수) said, "As the importance of innovative payment infrastructure is growing in the global financial market, we will proactively secure competitiveness in overseas remittance services through this cooperation." Park added, "We will explore together a direction for upgrading infrastructure so that our partner can build a future-oriented remittance environment."

Cross ENF CEO Won-hee Shin (신원희) said, "As we can review the future competitiveness of overseas remittance services through cooperation with Suho I-O, which has accumulated blockchain finance technology and know-how over many years, we will do our best to make it a meaningful partnership."