BitMinutes Inc. has announced a multi-country payment eco-system where BitMinutes become an electronic substitute for the country’s currency.
ATLANTA, GEORGIA, USA, February 13, 2020 /EINPresswire.com/ — Atlanta-based BitMinutes Inc., a financial services technology company leveraging blockchain and pre-paid minutes tokenization to provide financial inclusion to the global consumer, has announced a multi-country payment eco-system where BitMinutes (BMT) become an electronic substitute for the country’s currency, or a ‘Country’ BMT.
Country BMTs are pegged 1:1 to local currencies (or 1:10 where currency values are very low), so the Country BMT will be easily understood as a digital currency and more easily adopted by the local populations.
“This exciting strategy brings immediate financial inclusion to an entire country, ” said CEO Tom Meredith. “BitMinutes Inc. allows peer-to-peer value transfer to more than 1.2 billion bank and mobile accounts across 70 contracted countries, while our prepaid airtime top-ups are available to four billion mobile accounts in approximately 120 countries.”
“In the coming weeks, we will announce one, possibly two, joint ventures in Central and South America that will establish our stable coin strategy.”
BitMinutes Inc.’s embrace of the strategy is tied to several other bold moves.
Among them are:
● An ongoing partnership with Akoin, a technology company founded by global musical artist Akon, strengthening the company’s opportunity for growth in Africa.
● An ongoing relationship with Galaxia International Services, Inc., a holding company with storefront merchant operations in the northeast United States, to provide free money transfer between US citizens and citizens in countries where BitMinutes Inc. launches and Country BMTs are deployed.
● Availability to purchase Global BitMinutes (GBMT) on the new BitMinutes Inc. website at a price dictated by trading activity at LATOKEN, where Global BMTs currently trade.
“We believed it was important to differentiate between the Country BMTs and Global BMTs,” said Meredith. “In time, the financial success of our stable coin business model will impact the market-driven value for Global BMTs.”
About BitMinutes, the Company
BitMinutes is a startup fintech company, founded in the U.S. BitMinutes tokens (BMTs) are exchangeable into universal prepaid airtime minutes. Prepaid minutes are already traded informally as currency within country mobile networks, available to billions of mobile phone owners.
BitMinutes’ tokens also will allow peer-to-peer value transfer to millions of bank and mobile accounts across 70 contracted countries and prepaid airtime top-ups to over 4 billion mobile accounts in over 120 countries. More importantly, BitMinutes plans to facilitate the expansion of micro-credit lending in communities where lending is rare and too expensive for most individual borrowers. BitMinutes’ ownership and transactional records will establish a new type of consumer credit score for emerging market consumers who currently struggle with limited access to capital and a lack of traditional banking services.
CEO Tom Meredith talks blockchain with representatives at the Blockchain Economic Forum.
Source: EIN Presswire