Bitcoin & Mobile Messaging Startups Partner to Tap $500 Billion Remittance Market
Bitcoin and mobile messaging have emerged as tools in addressing the global remittance market to lower the cost of transferring funds across national borders. This past spring, KakaoTalk, based in Seoul, South Korea, a chat app, purchased a 40% stake in Satoshi Citadel Industries (SCI), a Manila, Philippines bitcoin startup as reported by Quartz. KakaoTalk joins Viber and WeChat in addressing the global remittance market, estimated at $500 billion annually. Transfers Are Complex. A cross-border money transfer requires the parties to agree on a transfer method, calculate exchange rates,....
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Mobile payment solutions are the new hype right now, as consumers from all over the world are looking for more convenient ways to pay for goods and services. No one would have expected Viber to become a major player in the financial world anytime soon, but their recent partnership with Western Union shakes things up quite a bit. While Bitcoin remains a cheaper remittance solution, this partnership has a lot of potential. Mobile Remittance With Viber. In this day and age, there are so many different social messaging applications that it becomes hard to keep track of them all. Viber is one....
FastCompany’s report revealed that overseas remittance totaled $429 billion in 2016. Some of the largest Remittance markets include China and the Philippines. Already, bitcoin startups have begun to dominate the remittance markets in the two countries, with the Philippines leading bitcoin remittance innovation. Both domestic and international remittance is a massive market within the Philippines. Companies such as Lhuillier and Palawan operate thousands of branches throughout the country, with deeper market penetration in comparison to international remittance companies such as Western....
Messaging app company LINK has started a rewards program where people can get LINK tokens by using its remittance and investment mobile apps.
Circle, one of the largest venture capital-backed Bitcoin startups in Europe, officially terminated its Bitcoin trading services and has launched a Bitcoin Blockchain-based remittance and messaging application to serve the unbanked. In a customer support briefing, the Circle team stated: “Now we’re making payments more social than ever and diving headfirst into next-gen Blockchain technology, rather than the buying and selling of Bitcoin itself.” Moving from Bitcoin trading to next-gen technology. In a blog post entitled “Spark, New Markets, App Messaging, and Bitcoin Changes,” Circle CEO....
The 6th annual Remittance & Mobile Money Expo, held today and tomorrow – Feb. 2 and 3 in Lagos, Nigeria, will address the challenges and opportunities in the emerging African remittance market. Billing itself as the largest gathering of stakeholders in the remittance ecosystem serving Africa, the conference will be at the Lagos Oriental Hotel. The theme of the conference, hosted by MobileMoneyAfrica, a resource for mobile financial inclusion, is “lowering transaction cost.” There will be more than 30 speakers. According to MobileMoneyAfrica, Nigeria is the largest remittance....