THELOGICALINDIAN - Hong Kongbased remittance belvedere Bitspark has appear that it has accustomed advance as allotment of a affiliation with Reinsurance Group of America Inc RGAx RGAx is one of the worlds better activity reinsurance companies and is on the Fortune 500 account The two companies will assignment to accommodate allowance casework underserved markets
Also Read: Remittance Startup Bitspark Drops Bitcoin Over Network Fees
Reinsurance Group of America Has Provided Investment to Bitspark as Part of a Partnership Between the Companies.
It has been revealed that RGAx has provided advance to Bitspark as allotment of a affiliation amid the two companies. The specific acceding of the acceding amid the companies and the sum of money supplied accept not been disclosed. Both companies accept emphasized their admiration to use blockchain technology to accommodate remittance casework to arising markets, including cash-based remittance services.
Ceo of RGAx, Dennis Barnes, declared “at RGAx we are actively partnering with our absolute audience and new innovators, such as Bitspark, to actualize business opportunities that advance customer admission to banking services. We accept Bitspark’s technology could advice abate abrasion for the millions of bodies who use remittance to abutment their families and accompany abroad.” Bitspark’s CEO, George Harrap, has accustomed the collaboration, advertence “we are aflame to be alive with accomplished ally in RGAx. Their presence, in the U.S., Asia Pacific region, and beyond, gives RGAx the all-around ambit and ability to advance Bitspark to the abutting level.”
Bitspark and RGAx Have Stated That They Seek to Foster Innovation Within the Cash Remittance Payments and Insurance Industries
Bitspark provides cryptocurrency allowance casework to money alteration operators – including banks, adaptable money acquittal processors, and accessibility stores. The aggregation principally operates in arising markets, alms casework to the Nigerian, Pakistani, Vietnamese, Indonesian, Ganan, and the Philippines markets.
Earlier this year, Bitspark revealed that it was alive in affiliation with the United Nations Development Programme on a balloon advised to addition banking admittance in Tajikistan, with the aggregation acquisitive to bear banking casework to about 85% – 90% of Tajikistan’s unbanked population. The aggregation stated, “the appliance of new banking technologies like blockchain can abetment in accretion the cardinal of bodies with admission to the banking arrangement at beneath cost, and at a calibration all-important to accomplish an appulse and ultimately convalescent bread-and-butter opportunities for bodies in Tajikistan and about the world.”
In August, Bitspark announced that it would be switching its casework over to the Bitshares blockchain, rather than the bitcoin blockchain – with the aggregation citation the aerial fees associated with BTC as the agitator for the transition. The aggregation stated that “the new acquittal adjustment will be formed out boring for specific bill pairs so that Bitspark’s remittance users will accept the admission to all of the worlds 180 currencies aural the abutting 12 months.
What are your thoughts on the accord amid RGAx and Bitspark? Share your assessment in the comments area below!
Images address of Shutterstock, Wikipedia, Bitspark
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