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.
- US Homeland Security Testing Blockchain To Track People, Goods Across Borders - January 17, 2017
- Israeli Tax Authorities Might Go After Bitcoin - January 16, 2017
- Senior US Regulator David Blaszkowsky Joins Canadian Blockchain Intelligence Group (BIG) Advisory Board - January 16, 2017
- Seven European Banks Cut Blockchain Deal to Facilitate Easier Cross-Border SME Commerce - January 16, 2017
- Marketforce to Host 2nd Annual The Blockchain Summit on 28th March 2017 in London - January 15, 2017
- Waves Platform Implements New Blockchain Scalability Approaches - January 14, 2017
- China’s Puerbank Group Launches Global Node for A Standardized Blockchain-Based Digital Currency in the UK - January 14, 2017
- DU and Guardtime Partner with Dubai’s NMC Hospital to Revolutionize Electronic Health Records with Blockchain Technology - January 14, 2017
- Report: Blockchain Slated to Become $8 Billion Global Industry By 2024 - January 14, 2017
- Blockchain Could Save Financial Services $110 billion over Next Three Years - January 14, 2017
- Russia Embraces Bitcoin – No Plans to Ban Cryptocurrencies - January 14, 2017
- Canadian BTL Group Completes Blockchain Pilot With Major Global Energy Company - January 12, 2017
- Tokio Marine & Nichido Fire Insurance and NTT DATA Cut Blockchain PoC For Insurance - January 12, 2017
- HfS Research Recognises VirtusaPolaris for Emerging Blockchain Services in BFSI - January 12, 2017
- Deloitte Launches Blockchain Lab in New York - January 12, 2017
- SWIFT launches Blockchain Proof of Concept In Hyperledger - January 12, 2017
- Blockchain VIP’s to Gather for Major Retreat This Month - January 12, 2017
- IBM Watson Health and US FDA Announce Blockchain Healthcare Data Project - January 12, 2017
- Equibit Development Corporation Sets $7 million Funding Target, Crowdsale Date - January 12, 2017
- US National Science Foundation Offers $8.5m in Funding for Blockchain Proposals for Cyberinfrastructure Security - January 11, 2017
- China Poised to Dominate Fintech and Blockchain Markets in 2017 - January 10, 2017
- Respectonomy Social Network To Tackle Censorship Using Blockchain - January 10, 2017
- South Korea Plans to Launch a Full-Scale Pilot Project on Blockchain-powered Financial Services - January 10, 2017
- Postal Savings Bank of China (PSBC) Announces First Blockchain Financial Service - January 10, 2017
- Reserve Bank of India (RBI) Releases Bullish Report on Blockchain for Clearing, Settlement - January 10, 2017
- Blockchain TV – TED Talk | How the Blockchain will Radically Transform the Economy | Bettina Warburg - January 10, 2017
- Alfa-Bank and S7 Airlines Close Blockchain Deal in Russia - January 10, 2017
- Life.SREDA and the Russian Republic of Tatarstan To Introduce Blockchain Technology For Public Administration System - January 10, 2017
- Union Square Ventures Leads $4M Funding Round for Blockchain Startup Blockstack - January 10, 2017
- US Department of Energy Eyeing Blockchain Solutions for Security – Seeking Proposals - January 10, 2017
- India’s Axis Bank to Use Ripple Blockchain for Cross-Border Remittances - January 10, 2017
- Georgia to Store Real Estate Documents in Blockchain System with Bitfury Group and Hernando de Soto - January 10, 2017
- US Depository Trust & Clearing Corporation Selects IBM, AXONI and R3 to Develop Derivatives Processing On Blockchain - January 10, 2017
- Grantcoin Foundation Expands Board of Directors – Distribution Rescheduled to Late January - January 8, 2017
- UNICEF, UK Home Office and BTCC to speak at London Blockchain Week 2017 - January 6, 2017
- American Company The Seam to Form Cotton Blockchain Consortium with IBM on Hyperledger Fabric - January 5, 2017
- Move over Bitcoin – MIT Cryptographer Silvio Micali and his Public Ledger ALGORAND… The Future of Blockchain? - January 5, 2017
- Blockchain to Play Role in Future of Transportation? UBS Teams up with ZF and innology SE to Make it Happen - January 5, 2017
- Blockchain Group Hyperledger Expands into China - January 5, 2017
- The Evolution Of Casinos – Next Generation Transparent Ethereum Smart Contracts Based Casino “Edgeless” - January 5, 2017
- Healthcare Sector Plans to Move Hard and Fast to Blockchain in 2017 - January 5, 2017
- Russia Eyes Blockchain Potential for National Payment System - January 5, 2017
- Bitfury Group Launches Global Blockchain Business Council - January 4, 2017
- India’s Yes Bank Enlists IBM to Help Build Blockchain Solutions - January 4, 2017
- World’s First Cryptocurrency Fund Listed on Exchange - December 25, 2016
- Dubai Future Accelerators Program Invests US$33m In Pilot Projects Including Blockchain - December 23, 2016
- IC3 Publishes Research on Blockchain Utilization of Intel Software Guard Extensions Offering Enhanced Protection - December 23, 2016
- UNICEF, UK Home Office and BTCC to speak at London Blockchain Week 2017 - December 22, 2016
- Corporate Patents on Blockchain Could Create Legal Problems for Startups - December 22, 2016
- French Global Banking Giant BNP Paribas Completes First Real-Time Blockchain Payment - December 21, 2016