The new service being launched will allow immigrants all over the world with Remit tokens to purchase digital vouchers that are redeemable for goods and services directly from local merchants at their specified destinations.
Several prominent investors, including Hashed, South Korea’s largest cryptocurrency fund, participated in the round, with SureRemit saying the fund’s decision to join in SureRemit’s pre-sale ICO signalled growing interest in the potential for cryptocurrency to further alleviate remittance challenges in emerging markets where recipients remain largely disconnected from financial markets.
As South Africans are itching to get their hands on bitcoin, there's been an increase in swops and bitcoin-only sales on Gumtree.co.za, says Claire Cobbledick, head of core at Gumtree...
18 Jan 2018
SureRemit’s new cryptocurrency removes the cash layer, reduces the cost of transfers and provides the sender some control and visibility over how the value is spent, the startup said.
“International remittance transactions can be frustrating, but it doesn’t have to be, at least for non-cash value transfers which constitute about 40% of all transfers,” said ‘Laolu Samuel-Biyi, director of remittances at SureRemit.
“In very many cases, immigrants and travellers just want to buy food or pay a bill for someone at home. Those transactions do not have the same risk profiles as cash transactions, and they should not be subjected to the same costs, timelines and procedures.”
Disrupt Africa Disrupt Africa is a one-stop-shop for all news, information and commentary pertaining to the continent’s tech startup – and investment – ecosystem. With journalists roaming the continent to find, meet, and interview the most innovative and disruptive tech startups, Disrupt Africa is a true showcase of Africa’s most promising businesses and business ideas.
Our readers can keep up-to-date with the quirky world of tech hubs and accelerator programmes; and our reporters provide live coverage of the all-important tech and entrepreneurship events across Africa.
For our startup, entrepreneur, and investor friends alike, our mission is to provide practical information and advice from across Africa’s varied vibrant markets, and to promote engaged and thought-provoking discussion about the exciting ecosystem we belong to. Go to: http://disrupt-africa.com/
LEGAL DISCLAIMER: This Message Board accepts no liability of legal consequences that arise from the Message Boards (e.g. defamation, slander, or other such crimes). All posted messages are the sole property of their respective authors. The maintainer does retain the right to remove any message posts for whatever reasons. People that post messages to this forum are not to libel/slander nor in any other way depict a company, entity, individual(s), or service in a false light; should they do so, the legal consequences are theirs alone. Bizcommunity.com will disclose authors' IP addresses to authorities if compelled to do so by a court of law.