Bitcoin has recently become quite a debatable topic as the opinions are diverse when it comes to the question of whether bitcoin use in terms of security and other risks related to cryptocurrency. There are even some compelling reasons why bitcoin may be dead soon. Despite warning signs, global banks are actively getting into the race of developing their own digital cash. Just yesterday, the news about MUFG coin came out, signifying growing interest from major financial institutions to develop proprietary digital cash alternatives.
Regardless of the opinions on bitcoin and other digital money, there are still successful and growing FinTech companies working with the cryptocurrency. The LTP team has been actively following the activities in the remittance space, and it is particularly interesting that bitcoin has a great potential in the segment with at least 17 bitcoin-powered companies fueling bitcoin remittance around the world.
Abra provides P2P money transfers through an app that lets users store digital cash (valued in any currency) directly on their mobile device by using a debit card or through an “Abra Teller.”
Align Commerce is a payment service provider for global commerce that enables businesses and payment platforms to send and receive payments in local currency via a simple, frictionless and inexpensive manner by using the blockchain as a new settlement rail.
Bit2Me is the first service in the world that allows users to turn bitcoin into cash in more than 10,000 ATMs.
Bitspark is a crypto-financial services provider for the APAC region. The company has pioneered the world’s first blockchain-powered, end-to-end remittance service in addition to a blockchain-auditable, feature-rich trading exchange.
Beam Remit helps Ghanaians and Nigerians make online payments and access instant and low-cost remittances with the help of bitcoin technology.
BitPesa is a payments platform that offers an easy way for individuals and businesses to make payments to and from sub-Saharan Africa.
Previously known as Bitreserve, Uphold enables anyone, anywhere to move, convert, hold and transact in any form of money or commodity instantly, securely and for free.
Coins.ph is a mobile blockchain-based platform connecting 300+ million people in Southeast Asia who are currently out of reach for traditional banking with services from existing banks and financial product providers.
CoinPip helps businesses send payments and payouts to remote workers using blockchain technology as a payment rail.
Hellobit is a money transfer solution built on the bitcoin network that makes it easier and cheaper to send cash through a network of trusted exchangers worldwide.
igot.com is a secure bitcoin remittance platform that allows users to trade bitcoin for cash, or cash for bitcoin. Users also can request money from anyone in bitcoin via email on the igot platform.
Moneytis aims to become the booking.com of money transfer, and adds value by managing a blockchain network providing the cheapest and fastest money transfers.
Palarin allows users to send money to the Philippines using bitcoin while allowing recipients to receive funds in the local currency.
Rebit.ph is a service of Satoshi Citadel Industries, a Philippine-based holdings company for bitcoin-related ventures.
Romit (previously known as Robocoin) uses blockchain technology to facilitate cheap, instant transfers of cash without making customers deal with bitcoin themselves.
Volabit is a mobile wallet for bitcoin and pesos that users can deposit into with cash at corner stores.
ZipZap is a technology platform that provides cash-to-bitcoin services and wire-transfer purchase options around the world.
TransferB is a remittance startup that uses a bitcoin payment network to send cheaper and faster payments around the world.
Hive is a P2P app that leverages blockchain technology to enable the transfer of funds between users, who can top-up their accounts with either bitcoin or credit cards.