2016 bitcoin cross-border transaction amount growth of nearly 10 times
Although bitcoin as a global currency is often refers to the processing of small business is not, but it is still one of the few several security money, it can guarantee the security of transactions and cross-border remittances.
However, over the years the cross-border bitcoin security and low cost payment processing ability is often ignored. Barry? Hilbert (BarrySilbert) digital currency group (DCG) a total investment of 18 bitcoin exchange, they found that the bitcoin system in most areas of the world are in rapid development.
Digital currency group said that the rapid growth in the number of cross-border transactions bitcoin every month. From January to October this year, the amount of cross-border transactions increased from $5 million to $40 million.
Why bitcoin cross-border payments so popular?
In most banks lack of services in the city, such as India and Kenya, bitcoin and other mobile payment network compared to cheaper, more efficient. Digital currency investment group startups Unocoin and BitPesa are emerging for the shaping of remittance market to help people from cash to digital currency.
This year, South Korea and even this is committed to providing preferential and advanced banking solutions are the implementation of the new regulations on bank account and credit card application. The new provisions of South Korea to improve the public use of bank payment service threshold.
Before, for example, the South Korean people can open an account in the state-owned commercial bank and not on any account, mandatory. But now, the account is the premise of at least $400 a month cash flow.
The government supervision on banking services and financial platform to increase the user base exchange, bitcoin exchange Korbit also became the South Korean financial technology and encryption money market leader.
Bitcoin payment company high demand
Cross-border payment processing of the fund industry every year billions of dollars, but the cost and fees have been rising, this also explains why the external demand for bitcoin payment startups and exchange more and more high.
A digital currency group and other investment companies continue to innovative exchanges and payment service providers to provide financial support, bitcoin cross-border payment market will open up a new world of their own.