Storq provides a single platform for Philippine businesses to pay overseas suppliers using stablecoin‑based settlement and local banking partners.
Funding
Funding not disclosed
Founders
Product
Problem
Businesses that need to pay overseas suppliers face slow, costly SWIFT transfers that involve multiple correspondent banks, creating delays, hidden fees, and uncertainty about the exact amount received.
Solution
Storq offers a single-platform solution that converts outbound funds into stablecoins for instant cross‑border settlement and then uses local banking partners to deliver payments in the destination country’s domestic currency. This approach eliminates SWIFT intermediaries, providing same‑day settlement, transparent foreign‑exchange rates, and predictable delivery amounts. Users manage all transactions through a unified business account that consolidates balances, tracks payments, and stores supplier information. Built‑in maker‑checker approval workflows and user permissions help teams control and audit disbursements securely. The platform is tailored for Philippine companies, integrating with local payout rails to ensure suppliers receive funds as if they were paid locally.
Target Audience
Primary customers are Philippine businesses that import goods or services and need to pay global suppliers efficiently, including importers, manufacturers, and procurement teams.
Features
- Stablecoin‑based settlement for near‑instant cross‑border fund movement
- Local payout through regulated banking partners delivering payments in domestic currency
- Single business account consolidating balances, funding, and transaction history
- Supplier management tools with organized records and repeat‑payment capabilities
- Maker‑checker approval controls and granular user permissions for secure payment workflows
- Transparent FX rates and exact delivery amount guarantees
- Same‑day settlement across 26+ supported currencies