AirTM: ‘Focusing on Harsh Currency Regimes’ of South American Remittance Market
Founded by 24-year-old Ruben Galindo and 29-year-old Antonio Garcia of Mexico City, AirTM is a service that depends on the Bitreserve API to make transfers from the “new money” in the cloud to the “old money” of the cash system. The two founders wanted to solve what they found to be an unfair problem in today’s remittance system. Garcia told CoinTelegraph, “You're accustomed to hearing about all the hell that Mexicans go through to get to the U.S. and to work really hard to send money home, doing hard jobs that Americans don't want to do.” He continued: The duo had met on numerous....
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Growing a Bitcoin exchange or brokerage service is not an easy task, as there is a lot of competition in this niche market right now. Furthermore, there are plenty of consumers who are not looking at Bitcoin as a solution to their financial problems just yet. But neither of these factors is keeping AirTM from becoming a big success. This service built on top of Uphold’s cloud money platform make it easy for consumers to convert in and out of Bitcoin. What makes the services provided by AirTM, so appealing is how they work with local cashiers in various regions, which help clients deposit....
Airtm is aiming to solve a myriad of financial challenges in Latin America tied to last-mile remittance, affordability and equitable access to the global banking system. Airtm, a Mexico City-based digital wallet and exchange operator, has received $15 million in funding from the Stellar Development Foundation, or SDF, as it seeks to expand financial services and cryptocurrency adoption in Latin America. The investment, which is the largest SDF has ever made as part of its Enterprise Fund, will enable Airtm to integrate with Stellar in the coming year. As part of the Stellar network, Airtm....
In recent weeks, we have seen an increased level of interest in Bitcoin in South American countries, such as Argentina. Is this the beginning of a Bitcoin boom in South America, or should we be more realistic? South American Governments Wary of Bitcoin. South American countries are notorious for their history financial instability. Not only are most countries plagued with hyper-inflationary local currencies such as the Argentine Peso, but citizens are also having a hard time obtaining any other currency from the government. By locking down people in a very tightly controlled ecosystem,....
Founders of a South American Blockchain platform InkaPay tell Cointelegraph about how it was launched and how it penetrates to the the areas where many unbanked people live. BitInka was founded in Nov. 2013, in Lima, Peru, by a group of entrepreneurs and it took a whole year to develop the platform. BitInka’s first goal was to deal with Blockchain technology as a local exchange. After the project was started, its founders had to put it on hold for almost half a year due to lack of initial funds. Restrictions. After half a year of sitting with the initial project and traveling around South....
Shinhan Bank, one of the largest financial institutions in South Korea will begin a remittance service – backed by bitcoin – between Korea and China, starting next month. The Korea-China corridor will soon see the bitcoin remittance service made possible through Hong Kong as an intermediary, a country where digital currency transactions are legally allowed, according to Korean news outlet Pulse. Fundamentally, the remittance operation will see Shinhan Bank transfer value to a digital currency exchange in Hong Kong, which will then further the transaction by transferring the value, in....