Thunes rolls out instant cross-border payouts for global workers

Core Insights - Thunes has launched a direct-to-workforce cross-border payout solution aimed at businesses paying overseas remote teams, freelancers, and gig workers, supporting instant payouts for compensation and other disbursements [1][2] - The solution enables real-time payments into 12 billion bank accounts, mobile wallets, and stablecoin wallets across 140 countries, accessible through a single API [1][4] Group 1: Product Features - The new payout capability connects firms directly to local payment schemes and wallets, including M-Pesa, Alipay, and GCash, addressing slow and fragmented international payout processes [2] - Workers in countries with volatile local currencies can receive stablecoin payouts, designed to mitigate the impact of foreign exchange fluctuations [2] Group 2: Market Context - The gig economy and freelancing have seen significant growth, but global payments for these industries have been challenging, prompting the need for solutions like Thunes' [3] - Thunes operates a proprietary Direct Global Network, allowing real-time payments in over 140 countries and more than 90 currencies [4] Group 3: Recent Developments - The launch follows a partnership with South Africa-based Absa Group to introduce a cross-border remittance service called Absa Global Pay [5]