Veem is a global payment company that offers solutions enabling small businesses to send and receive payments in local currency. Using blockchain as a payment rail, the company eliminates the need for intermediary banks therefore reducing costs for small- and medium-sized businesses. The company converts the sender’s funds into bitcoin, selling the digital currency at an exchange for the desired currency of the recipient. Align Commerce charges a rate of 1.9 – 1.5% depending on the size of its transactions. Launched in 2014, the company is based in San Francisco, California.