Coinsecure, an Indian bitcoin exchange, has partnered with a global money transfer network OKLink that was recently launched by OkCoin, in a move to bring remittances through blockchain technology to Indian citizens.
According to the official announcement, Coinsecure’s Co-Founder and CTO, Benson Samuel, and OKLink’s Chief Strategy Officer, Jack C. Liu together announced the partnership during MTC Asia Conference that was held in Delhi, India.
“Remittance will work over the network created by OKCoin called OKLink. It will enable Indian citizens to send or receive funds either in Bitcoin or Indian Rupees from countries around the globe such as China, Hong Kong, Korea, Canada, Philippines and much more,” Coinsecure Co-Founder and CEO, Mohit Kalra said.
During the conference, the panel titled ‘Pioneering Remittance Opportunities & Challenges of Innovators’ focused on the landscape of remittance related opportunities over the blockchain. Both the companies are emerging as key leaders in the bitcoin exchange space and equally recognize the importance to leverage blockchain technology to reduce the cost of daily remittance.
“Coinsecure is the leading blockchain company in India and their commitment to our network is further validation for us and our shared vision of leveraging the trust of the Blockchain to improve the end remittance experience for the Indian people,” Jack C. Liu stated.
The remittance services will soon be available to Indians through Coinsecure website and later from its mobile application. The collaboration aims to provide the lowest fee in the industry with a drop from traditional 3-5% to only 0.5%, along with a proof of work over the blockchain network.
Earlier in June, Coinsecure partnered with leading bitcoin payment processor BitPay in order to offer bitcoin payment processing to merchants in India and southern Asia.
