Instant Private Bitcoin Trading Could Revolutionize Remittances
Can you send money across borders instantly at almost no cost? Robert Genito of Wall of Coins thinks peer-to-peer Bitcoin exchanges could revolutionize the cross-border remittance industry. Cross-border remittances to friends and family account for a significant chunk of economic activity, especially among undocumented immigrants. The undocumented living in the United States sent an estimated $26 billion in 2014 to Mexico alone, underscoring the high demand for a method of transferring wealth internationally with as little paperwork involved as possible. Wall of Coins, a service for the....
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Digital payments can deliver better immediacy and ubiquity than traditional retail payment systems and, therefore, could revolutionize payments, according to a recent Deutsche Bank research paper. The paper, titled "Instant revolution or payments? The quest for real-time payments," recognizes bitcoin and the blockchain as playing an important role in payment technology as the need for real-time payments expands. In tackling the complex topic of instant payments, the paper reviews the different definitions of instant payments and establishes what it considers a good working definition. The....
Transaction delays and the demands of extensive personal information alienate some users from buying and selling Bitcoin. СoinTelegraph spoke to Robert Genito, CEO of Genitrust (which owns Wall of Coins), about private and instant Bitcoin trading. The now-defunct BitInstant provided a fast, private method of trading Bitcoin, until it was shut down following the arrest of its CEO, Charlie Shrem, on money-laundering charges. Now, Wall of Coins’ Robert Genito talks about how it is still possible today to exchange Bitcoins fast and without divulging private information. CoinTelegraph: Have you....
Tap Send, the creator of a remittances app of the same name, revealed it has raised $65 million in a Series B funding round. The fintech firm plans to use the funds to build a cheaper and faster cross-border money transfer platform. Remittances to Overlooked Countries The fintech startup behind the remittances app, Tap Send, recently said it has raised $65 million in a Series B funding round. According to the startup, the funds raised will be used to bolster remittances to the most overlooked countries in Africa and Asia. As stated in a Techcrunch report, Tap Send’s latest capital....
Thursday, BitQuick.co, a peer-to-peer Bitcoin trading platform which processes around US$1.4 million worth of bitcoin transactions every month, announced the integration of BitGo Instant. The company aims at securing zero-confirmation payments that will improve user experience and overall security of the trading platform. Instant Mechanism to accept Bitcoin. Using BitGo’s prominent multi-signature technology, the company ensures protection against double spending. The service fee for BitGo Instant is free of charge for transactions that are less than 1 BTC. For payments that are worth more....
Bitcoin could be the most efficient means of moving fiat around the world. International Remittances. Before we delve into the promise of Domestic remittances, we must understand the hype behind International remittances. International remittances have been growing every year, and many consider it to be a "killer app" for Bitcoin. One noticeable example of a startup rising up to face this challenge is Buttercoin. About Buttercoin, Bloomberg's Businessweek had this to say: The company is working with licensed money transmitters in several countries to establish software systems in which....