November 30, 2015
[Updated] Blockchain has been one of the most awe-inspiring FinTech innovations since the Internet came into existence. Startups are coming up with amazing use cases for blockchain technology and many startups are building their businesses around the same. There are several segments of the FinTech Industry like lending and remittance that are already putting blockchain technology to advanced practice. We have also included bitcoin companies (technically Blockchain based) in the following list:
Abra: Founded in 2014, Abra provides person-to-person money transfers through an app. The app lets users store digital cash (valued in any currency) directly on their mobile device by using a debit card or through an Abra Teller. The user is not required to have a bank account to use the service. The user can send funds instantly to anyone with a smartphone. The recipient can withdraw cash from the app via a teller as well. Bitcoin is used as back-end infrastructure by the company, but funds are denominated in US dollars that pass through the system.