Atom Solutions, a Japan-based fintech company, has announced the launch of Equivalent Value Overseas Remittance System (EVOR). EVOR is a system designed to address the price volatility associated with cryptocurrency remittances.

According to the company, the current systems for making overseas remittances are not flawless. The main issue faced while doing transactions through a traditional bank is high cost. However, when a transaction involves crypto currency, an entirely different issue arises. The crypto market faces huge fluctuations, and consequently the remittance value also fluctuates greatly in a given time period. So, when the fiat is converted to crypto at one end to make the remittance and converted back to fiat at the other end, there can be remarkable difference in values.

The firm has claimed that EVOR will eliminate these shortcomings by speeding-up the transactions to preserve the values and charge less fees for its service. Atom Solutions has also developed Eternal Coin, a new digital asset that streamlines overseas remittances, with an intent to ease the adoption of cryptocurrencies.