If everything goes right, BitReserve, the Bitcoin wallet from CNET would be available in India to disrupt the market for existing players in that business. The company is interested to cater the customers in India after successful tie ups with Mexican billionaire Ricardo Salinas Pliego of Group Salinas to access the remittances market in Mexico.
When asked about his meeting with the banking regulator, Halsey Minor, an American serial tech entrepreneur from the 1990s dotcom boom era and now the founder and CEO of BitReserve says that RBI has the understanding of how to look at the Bitcoin companies from the regulatory point of view whereas some others did not know where the companies fit in.
Minor also admitted that his meeting with the banking regulator was quite successful and he is quite optimistic about the outcome as his company seeks to extend the banking system at zero cost. He is of firm belief that five years no financial intermediary will make money while moving money.
According to Minor banking is the last bastion that will get disrupted by technology. He admitted that after the US, UK and China, he wants to now set up operations in India and for that he is talking to regulators and potential partners on a range of internet-based finance offerings.
Showing his confidence he says his brand will be operational in India before it takes off in the US. There are several rich features associated with BitReserve; for instance, customers can hold their Bitcoin as stable money can send them to anyone as Bitcoin and spend it anywhere Bitcoin is accepted from any of their money cards.
Conversion from Bitcoin to Other Currencies Easy
BitReserve makes conversion from Bitcoin to Bitmoney easy as customers can do this with ease and get USD, Euros, pounds, yen, Yuan and more with no delays. The company offers instant, low-cost currency conversions.
Bitreserve’s Bitmoney is backed by a full reserve of real money wherein it publishes a real-time, verifiable proof of solvency, so users always know their value is safe. A cloud-based digital money platform, BitReserve enables users to hold and transfer virtual assets whose value is substantiated by a reserve of real assets by the company in financial institutions.
The company claims that it is committed to driving costs down and dialing convenience up. It says at 0.45% commission BTC to USD conversions, customers get some of the best rates around.
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