Bitspark Limited, the world’s first cash-in cash-out remittance service leveraging Bitcoin and Blockchain technology in partnership with Vitaxel Group, the holding company of the first MLM Company from South East Asia to promote exclusive travel, entertainment, lifestyle and health products through eCommerce and its own online shopping mall, today signed the master agreement to pursue bringing Bitspark’s remittance platform to the Malaysian market.
According to a company blog post, has partnered with Vitaxel Group, a direct sale organization, to bring Bitspark’s payment platform to Malaysia. Bitspark, a remittance service that leverages bitcoin and Blockchain technology, enables money transfer businesses to send and receive money faster, cheaper, and more securely to more than 100,000-plus destinations worldwide.
Bitspark and Vitaxel Group seek to pursue the opportunities in financial services in Malaysia and other emerging SE Asian markets as the rise of mobile banking and smartphone usage presents new opportunities for reducing costs in cross border trade and opening to new customers and markets. This follows on from the MOU signed in June and begins the rollout in Malaysia.
“Today we signed our final master agreement on bringing the Bitspark Remittance platform to Malaysia, both teams at Bitspark and Vitaxel have been working hard to make this happen and today we have reached an exciting new milestone. I think this signals the start of a working relationship that can we can build on over time for new products and markets to meet the needs of our customers with our industry leading services in the financial space.” said Bitspark CEO George Harrap.
Malaysia is an integral market for money transfers, often involving high volumes of transfers to neighbouring Indonesia, Thailand, Singapore and other nations throughout ASEAN, a market of over $2 billion USD growing 6% annually.
“Our customers and contacts are located all around the world, whilst having our headquarters in Malaysia, we are currently serving close to 5,000 distributors in 16 Asian countries and all this happening within one and half year in operation. This distributors’ base is also expanding as we are developing into some major markets within the Asean community this year. We are committed to provide the most effective technology to deliver the best value to our current and future customers, we believe that our collaboration with Bitspark, a ‘game-changer’ innovative fintech company, will move us closer to our corporate goals. Our customers and members of the public will very soon enjoy faster money transfer with greater cost savings.” said Ryan Leong, CEO of Vitaxel.
Bitspark and Vitaxel Group will soon be rolling out Blockchain remittance services in Malaysia in addition to other value added services and products.
Bitspark is a Fintech startup based in Hong Kong that pioneered the world’s first cash-in cash-out blockchain remittance platform for Money Transfer Operators. Bitspark enables Money Transfer Businesses to send and receive money quicker, cheaper and more securely to over 100 000+ destinations worldwide. Bitspark is an incubated startup of the Cyberport, an organisation for innovative companies backed by the Hong Kong government and is an alumni of the Accenture fintech accelerator program and currently works with both small and large multi-national organisations in creating innovative Blockchain based solutions for both financial and non-financial applications.
Vitaxel Group Limited is quoted on the OTCQB, USA (stockcode “VXEL”) and currently has two subsidiaries, Vitaxel SDN BHD (Vitaxel) and Vitaxel Online Mall SDN BHD (Vionmall). Vitaxel is primarily engaged in the direct selling industry utilizing a multi-level marketing model with an emphasis on travel, entertainment and lifestyle products and services. Vionmall is engaged in the development and operation of online shopping platforms accessible to Vitaxel distributors, members of the public and third party providers of products and services. It currently has approximately close to 5,000 distributors based in 16 Asian countries.
To learn more please visit Bitspark.
- Token.FM, First Blockchain-Based Direct-to-Fan Music Platform, to Launch Initial Trial in May, Opens Series A Round - April 28, 2017
- Mysterium To Build Blockchain-based VPN for Secure, Anonymous Internet Connection - April 28, 2017
- TaaS token crowdsale concludes with $7.7 million raised - April 28, 2017
- Humaniq Humanitarian Blockchain ICO breaks the $5 million barrier - April 28, 2017
- Exscudo, Blockchain Financial Services Provider Launches ICO - April 27, 2017
- Kibo Platforms’ Beta Version Be Launched in the Beginning of May - April 25, 2017
- Distributed Cloud Platform iEx.ec attracts $12M in Three Hours in ICO - April 25, 2017
- Cryptocurrency Working Group – Distributed Ledger Technology (DLT) – The Way Forward - April 25, 2017
- Blockchain App Humaniq’s HMQ Token to be Traded on Six Exchanges - April 24, 2017
- Five days left until Blockchain Startup Exscudo ICO - April 21, 2017
- Apptrade to Reward Crowdsale Participants with Three Percent Bonus - April 21, 2017
- Blockchain Technology Startup Humaniq Raises $3.8M and Signs Contract With Deloitte - April 21, 2017
- Monolith Studio Announces Crowdsale for TokenCard, the First Debit Card Powered by Smart Contracts - April 20, 2017
- Blockchain Co. SingularDTV Recruits Hollywood VP - April 18, 2017
- Factom Closes Extended Series A Round of $8 Million Following Harmony Product Launch - April 18, 2017
- Interview with Back to Earth founder Clay Space - April 18, 2017
- Ethereum Movie Initial Coin Offering Sell Out - April 18, 2017
- Insurtech Startup Etherisc Wins “Blockchain Oscar” for Innovative Insurance Platform - April 14, 2017
- India’s Blockchain Community Launches Digital Asset and Blockchain Foundation - April 14, 2017
- UK EPSRC Supports Seven Blockchain Projects with £3.6 Million - April 14, 2017
- Dutch National Blockchain Coalition Presents Action Agenda - April 14, 2017
- Broadridge, J.P. Morgan, Northern Trust and Banco Santander Successfully Complete Pilot of for Blockchain Voting - April 14, 2017
- Blockgeeks Labs to Hold Blockchain Hackathon in Toronto - April 14, 2017
- Exscudo network EON coins are available for pre-order - April 13, 2017
- One of Big Four accounting firms is now legal adviser of Exscudo - April 12, 2017
- Dash Cryptocurrency Signs on with Kraken - April 12, 2017
- Blockchain Capital Closes ICO – $10 Million in Six Hours Raised in Record Time - April 11, 2017
- Ethereum meets Hyperledger – Burrow Ethereum Smart Contract Machine to Join Hyperledger - April 11, 2017
- Porsche Announces First Blockchain Contest - April 10, 2017
- Fidelity Labs Joins IC3 Blockchain Group - April 10, 2017
- Global Graphchain Project FERMAT Announces Distributed Governance Model Featuring Contribution Contracts - April 10, 2017
- Coinsilium and Oraclize sign MoU to form Strategic Alliance - April 10, 2017
- Industry Thought Leaders Invest With Blockchain Capital in its Ground-Breaking ICO - April 8, 2017
- Novus To Launch Innovative Blockchain Advanced File Index System - April 5, 2017
- Lykke Announces OEM Services – Lykke Accelerator - April 5, 2017
- BitHub.Africa Announces ICO Campaign to Foster Region’s Cryptocurrency Ecosystem - April 5, 2017
- SibCoin: Siberia Down, China to Go - April 4, 2017
- Groundbreaking Blockchain Research to Feature at International Financial Cryptography Conference - April 4, 2017
- Exscudo, The Nextgen Financial System, Announces ICO - April 4, 2017
- A Film by Manuel Stagars – The Blockchain And Us Video Documentary – Released in Full - April 4, 2017
- Genpact Harnesses Blockchain Technology to Transform F&A Operations to Improve Cash Flow and Enhance Customer Experience - April 4, 2017
- Blockchain Startup TaaS Partners With Exchange Platforms - April 4, 2017
- Synereo announces Qrator – The First Attention Economy App - April 4, 2017
- Blockchain Capital Releases Offering Memorandum for Its $10 Million Digital Token Offering - April 4, 2017
- Lykke Announces Availability of Blockchain Startup ChronoBank TIME Token - April 3, 2017
- Blockchain Workspace Launches Blockchain Education Company in Amsterdam, Netherlands - April 3, 2017
- Blockchain Startup SingularDTV Goes Hollywood - April 1, 2017
- Ledger Raises $7m To Accelerate Worldwide Adoption Of Security Solutions For Blockchain And Cryptocurrency Applications - March 31, 2017
- Slock.it secures $2 million seed funding to build Sharing Economy Platform - March 31, 2017
- Open Source Blockchain Project MultiChain Adds Fourteen New Partners and Enters Beta - March 30, 2017