Fintech Startup SureRemit Expands to the United States, Australia and Europe
Non-cash remittance company, SureRemit has announced its international expansion efforts. The cryptocurrency remittance platform has expanded its operations to the United States, Europe and Australia.
The other countries across Europe include Finland, Belgium, Turkey, Italy, Netherlands, Spain, France, Germany, Denmark, Austria and Ireland. Dwellers in these countries will now have access to the zero fee remittance platform to make non-cash transfers within and outside their climes.
We learnt that the company is expanding its operations to increase its market position and value. SureRemit, which started out with enabling people to send digital vouchers as gift cards to friends and family, morphed into a non-cash remittance platform that immigrants use to send funds home using its SureRemit token (RMT).
This global expansion of SureRemit will mean that more people (not only immigrants) can use its token within and outside their country. A person in Austria can now use SureRemit to disburse non-cash funds to his friends and family in Austria because the RMT is now accepted by merchant companies in the SureRemit network.
This also means that users can also purchase from international merchants as well. This further positions the Fintech company as a key global player and adds credit to cryptocurrency on a global scale.
Recall that SureRemit launched an Initial Coin Offering (ICO) to generate funds in order to develop its blockchain based remittance service and expand beyond Africa on the rising wave of cryptocurrency adoption.
With the launch of the ICO, it raised US$7 million with participation from companies like Hashed; South Korea’s largest cryptocurrency fund.
It appears SureRemit’s long term goals are already being actualised. What is yet to be ascertained is if RMT will be a generally accepted means of non-cash remittance not only to immigrants but natives of the new entrants.
Only time will tell.
If you’d like to get featured on our Entrepreneur Spotlight, click here to share your startup story with us.
Get latest Technology news, reviews, business-related content with a deliberate emphasis on the African narrative and insightful analysis in Nigeria – straight to your inbox.