Fintech News Desk
At the Global Blockchain Convention in Dubai yesterday, Centbee announced that consumers living in the UK can send digital cash via the blockchain to their families back home in West Africa.
Co-CEO Lorien Gamaroff described the new feature enabling consumers to send digital cash to a recipient’s MTN, Vodafone, Tigo or Airtel mobile money wallet or their bank account. The service will be available for people in the United Kingdom to send money to West Africa, including Nigeria, Ghana, Senegal, Ivory Coast, Mali, Niger and Benin.
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“Immigrants living in the UK can now send money home to their loved one’s mobile money wallets or bank accounts using their Centbee wallets. By using the BSV blockchain to enable cross-border payments, we’re able to significantly reduce the costs of sending money, making it more affordable – under £2 per send – for people to send money home. Remittances take a few seconds to send, so when you send money from the UK, you know your family will receive that money, ready to spend, in seconds,” Gamaroff said.
The new remittance feature in Centbee wallet builds on their existing functionality: making it easy to buy, send and spend from a mobile phone. Centbee has seen exceptional growth in its Value-Added Services catalogue (which includes hundreds of global brands) over the past few months. The introduction of a blockchain-based loyalty program, Centbee Honey, that gives their 50,000 customers ready-to-spend instant digital cash rewards in their Centbee wallet has significantly impacted sales volumes and in-app usage.
“We’ve worked hard to find solutions leveraging the BSV blockchain to create useful and valuable services for our consumers across the world; our numbers show that consumers like having a digital cash wallet that can do it all – send money, buy products and services that they need and get rewarded instantly. The introduction of remittances to Centbee wallet builds on our vision of making digital cash useful to everyone, everywhere,” said Centbee co-founder, Angus Brown.
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“By using the BSV blockchain, we know that we can deliver regulatory-compliant products to our customers. We’ve always seen the market potential for digital cash products and services that leverage the BSV blockchain because of blockchain’s inherent benefits of being an immutable, transparent and public ledger. Our numbers are showing us that there is a massive demand and potential for digital wallet services and products, and the introduction of cross border remittances positions us for further rapid growth and adoption for our existing and new customers.”
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