Bitcoin Remittance

The World Bank expects global remittance transactions to exceed $600 Billion in 2015. The majority of these transfers are from migrant workers in developed countries sending money home to developing countries. Companies that help people move money from one country to another, charge upwards of 10% as well as additional fees on currency exchange. The transaction verification system of the Bitcoin blockchain means that banks are effectively no longer required in order to safely transfer money internationally. In addition, Bitcoin transfer costs are typically less than 1%. With a combination of ATMs and a Bitcoin exchange, MJMI will be able to effect remittance transactions for a fraction of the cost of current providers and be able to complete the transfers in virtually real time.

Key Aspects of our Remittance business include

  • Ultra-low cost remittance transactions, severely undercutting existing operators.
  • Virtually real-time transfers.
  • Bank level security via the publicly viewable Blockchain.
  • Integrated system with managed ATMs and a Bitcoin exchange allowing for conversion to and from local currencies.
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Providing safe and accessible products and services to users of Bitcoin and other digital currencies.