Bitspark Rolls Out Remittance Service to Indonesia
Bitspark is targeting Hong Kong's sizeable population of Indonesian migrant workers with a new bitcoin-enabled remittance corridor. The announcement comes just a month after launching an identical service servicing the Philippines. The firm is pitching its low-cost way of sending money back home to more than 165,000 Indonesians residing in Hong Kong - 90% of whom are employed as foreign domestic helpers, according to the Census and Statistics Department. For the new service, Bitspark is sticking to the model it developed for Philippine remittances last month. This means a customer walks up....
Related News
Bitcoin exchange Bitspark is looking to expand the bitcoin remittance services it offers in Hong Kong to the island nation of Indonesia. Bitspark CEO George Harrap spoke enthusiastically about the move, saying: "We are excited to be able to bring our low cost service to Indonesia in partnership with PT Artabit... Indonesia is an exciting opportunity and a key focus for us... It's a very different market in terms of logistics and distribution than our existing Philippines services with many people using Post Offices as the primary cash pickup location, not third party remittance stores.......
Back in November, Hong Kong based Cryptocurrency Exchange Bitspark Limited unveiled the first ever end-to-end Bitcoin remittance solution: A much needed service that would allow Hong Kong's population to gain easy access to the advantages bitcoin offers when compared to conventional remittance services to transfer money to the Philippines. They're now extending their services from the Philippines to also serve Indonesia. The numbers behind the demand. According to the Hong Kong Government's website, more than 165,000 Indonesians and about 169,000 from the Philippines were residing in Hong....
Asian Bitcoin company BitSpark announced the temporary closure of its bitcoin exchange earlier this month so the company could focus on its pioneering bitcoin remittance service. The company also recently expanded into mainland China through a partnership with Chinese Bitcoin company Melotic. Melotic recently shut down its own crypto-currency exchange, citing a lack of demand for the service. A company blog post read, "Simply put, we did not experience enough growth in this product to justify the ongoing costs of development, maintenance, and support." According to BitSpark CEO George....
Update — 1/24/2014: We have changed this article to fix a reporting mistake. Previously, we stated the Bitspark had partnered with bitcoin.co.id. The company has actually partnered with ArtaBit, an Indonesian Bitcoin payment processor. Bitspark, a Hong Kong based bitcoin exchange, has expanded its Bitcoin remittance service to the Southeast Asian country of Indonesia. Now, Indonesian workers in Hong Kong will be able to remit funds back to their loved ones in Hong Kong for a much cheaper rate than traditional remittance services. The Bitcoin exchange hopes to get a large market share of....
Hong Kong-based Bitspark Limited, a bitcoin remittance company, has announced a new partnership with Malaysian Vitaxel Group. Vitaxel Group, which specializes in multi-level marketing, has more than 5000 distributors in 16 Asian countries. And together, they aim to expand the bitcoin remittance services throughout Southeast Asia (S.E.A). Remittance in....