GlobeNewswire
Newmoney.ai is announcing the launch of its peer-to-peer cash transfer platform, designed to make sending and receiving money across borders simple, fast, and affordable. By combining familiar features of domestic payment apps with a worldwide reach, Newmoney.ai aims to address the challenges of high fees and poor exchange rates often associated with international money transfers. At the core of this platform is Newton, an AI-powered financial assistant that makes managing everyday finances as easy as sending a text or even a voice message.
Newmoney combines both advantages of platforms like Venmo which focus on peer to peer domestic transfers and Western Union peer to peer international transfers. The platform revolutionizes the stable digital currency technology to offer secure, fast, and free. This approach eliminates hidden fees and provides better currency conversion rates, making it ideal for people sending money to family members abroad or making international payments.
A key feature of Newmoney.ai is the ability to send money to anyone, even if the recipient does not yet have a Newmoney.ai account. Users can enter the recipient’s email address or phone number, and the recipient will receive a notification— via email, SMS and whatsapp— letting them know that funds have been sent. From there, they can easily accept the payment on Newmoney.ai and withdraw the funds to their bank account.
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Newmoney.ai also offers two distinct services within the app: one side focuses on digital cash, making it ideal for everyday transactions and sending money abroad, while the other side acts as a smart crypto wallet. Both services are seamlessly managed through Newton, making it easy to switch between digital cash and crypto functionalities based on user needs. This dual capability, guided by Newton, acts like the Alexa of finance, offering flexible and convenient solutions for everyday financial tasks.
One of Newmoney.ai’s standout features is its integration with cryptocurrency services. Through a partnership with Transak, users can easily buy and sell cryptocurrencies directly on the platform. Additionally, the integration with Coinbase allows users to purchase USDC with zero fees, making the Digital Cash feature and sending money anywhere completely free. This makes moving between traditional money and digital currencies seamless and cost-effective. Whether a user wants to send cash or crypto, Newmoney.ai ensures a smooth process.
Newmoney.ai has also joined the Circle Alliance Program, which provides tools and support to help the platform meet legal requirements and expand its reach. This partnership helps increase visibility and ensures that Newmoney.ai operates securely and transparently.
For users, this means a practical solution to the real challenges of international money transfers. A recent example shows how a first-generation Tongan American user saved hundreds of dollars by switching from a traditional service like MoneyGram to Newmoney.ai. By using gasless ERC20 backed by stable coin USDC, the platform eliminated hidden costs and made the process more affordable.
The platform is designed for people who regularly send money abroad, want to manage finances more efficiently, or are interested in using cryptocurrencies for everyday transactions. Newton’s ability to understand multiple languages makes the service accessible to users around the world, further enhancing the ease of global transactions.
Newmoney.ai has plans to expand Newton’s features in the future, including offering personalized financial advice, automated budgeting, and spending insights. The goal is to create a platform that not only simplifies transactions but also helps users make smarter financial decisions.
The app is currently in the closed beta stage. Newmoney.ai invites early adopters to test the platform and provide feedback on its features, fees, and overall experience. This feedback will be essential in improving the service before a wider launch.
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