Centbee made the announcement yesterday at the Global Blockchain Convention in Dubai that clients residing in the United Kingdom would soon have the ability to transfer digital currency to their kin residing in West Africa through the blockchain. Co-CEO Lorien Gamaroff provided an overview of the newly implemented functionality that enables customers to transfer digital currency to the recipient’s MTN, Vodafone, Tigo, or Airtel mobile money wallet as well as their personal bank account. People in the United Kingdom will be able to use this service to transfer money to West African countries such as Nigeria, Ghana, Senegal, Ivory Coast, Mali, Niger, and Benin. The service will be accessible to them.
Gamaroff stated “Using their Centbee wallets, immigrants currently residing in the UK may now transfer funds to the mobile money wallets or bank accounts of their loved ones back in their native country. We are able to dramatically cut the costs of sending money by using the BSV blockchain to facilitate cross-border payments, which enables us to bring the cost of sending money home down to less than £2 per send. This makes it cheaper for individuals to send money home. Because it just takes a few seconds to transfer a remittance, you can be certain that the money you send to your relatives from the United Kingdom will reach them in an instant and be ready to be spent.”
The new remittance feature in Centbee wallet expands on the current functionality of the wallet, which makes it simple to purchase, transfer, and spend cryptocurrency from a mobile phone. Over the course of the last several months, Centbee has seen an extraordinary expansion in its Value-Added Services portfolio, which now comprises hundreds of companies from across the world. The launch of a blockchain-based customer loyalty program known as Centbee Honey, which provides the company’s 50,000 customers with instant digital cash rewards that can be spent right away and are stored in their Centbee wallets, has had a significant impact on sales volumes and on the amount of time spent using the in-app platform.
Centbee co-founder, Angus Brown stated “We have put in a lot of effort to find solutions that leverage the BSV blockchain in order to create services that are helpful and valuable for our customers all over the world. Our research has shown that customers enjoy having a digital cash wallet that can do everything for them, including send money, purchase products and services that they require, and get instant rewards. Our objective is to make digital currency useful to everyone, no matter where they are, and the addition of remittances to Centbee wallet is a step in the right direction.”
“By using the BSV blockchain, we have the confidence that we can provide our clients with goods that are in compliance with applicable regulations. Because of blockchain’s inherent capabilities as an immutable, transparent, and public ledger, we have always recognized the market potential for digital currency goods and services that utilize the BSV blockchain. This is due to the fact that blockchain is a distributed ledger. The data that we have collected indicates that there is a massive demand for digital wallet services and products, as well as a significant amount of untapped potential in this market. The addition of support for international money transfers positions us for even more rapid expansion and adoption among both our current and prospective customers.”
