Veem eliminates the intermediary in international payments. When you transfer money via a wire, funds move from your bank to an intermediary bank (in some cases multiple intermediaries) before they get to your designated account.
Each time your funds hit an intermediary bank – you get hit with fees on foreign exchange conversions.
We transmit the international payments over something called the blockchain. Blockchain is the technology that replaces intermediary banks and therefore eliminates unnecessary fees.