Bitcoin continues to make waves in India, and the focus is shifting towards blockchain technology as well. A new partnership between OKLink and Coinsecure will introduce distributed ledger-based remittance to India. This is also good news for Bitcoin, which is becoming widely used in the country as well. Bitcoin remittances using blockchain technology seem to be on the horizon.
Some people may be familiar with the OKLink name, as it is a subsidiary of OKCoin. This company was created to offer digital assets and blockchain-based global transaction settlement. By partnering with Coinsecure, OKLink will focus its attention on remittance services running a distributed ledger.
India is a country with plenty of possibilities for both Bitcoin and blockchain. Remittance is an integral part of the local economy, and it makes sense to combine these two worlds. At the same time, this venture is a big move in the right direction for both Bitcoin as a payment tool and blockchain as a viable technology.
By using distributed ledgers, remittance solutions will benefit from unprecedented transparency. Additionally, these transfers will require less money to execute, making money transfers cheaper for the consumer. Indian citizens will be able to send and receive money – in Bitcoin or Rupee – to and from any country around the world.
Coinsecure CEO Benson Samuel explained the partnership as follows:
“We at Coinsecure not only recognize Bitcoin as the most important application of blockchain but also its potential role in alleviating global transaction woes and expedite remittance. Coinsecure is thrilled to partner with OKLink to provide faster and cheaper services to the Indian population.”
This new service will be accessible through Coinsecure’s website in the coming weeks. A mobile application will be coming as well, which will support both Android and iOS. The service will be offered at a 0.5% fee per transaction, which is a lot cheaper than any other remittance offering in India today.
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