SpectroCoin, a Bitcoin company that provides localized Bitcoin exchange solutions for residents of Europe and several countries in Central Asia, has announced that it has added a new feature on its platform that will allow its clients to withdraw their money in more than 25 countries. This is expected to help the remittance market a lot.
Thus, clients in Austria, Belarus, Belgium, Brazil, Bulgaria, Canada, Columbia, Costa Rica, Czech Republic, Denmark, Estonia, Germany, Georgia, Latvia, Lithuania, Netherlands, Nicaragua, Norway, Romania, Panama, Peru, Poland, Slovakia, Spain, Sweden and United Kingdom, etc. will be able to withdraw their cash.
Nonetheless, this UK Bitcoin service provider is helping clients get an easier access to Bitcoin for unbanked people. A press release from the firm informed that in Europe and Central Asia where 193 million adults are not using formal financial services, their financial exclusion might lead to a social exclusion; Bitcoin can definitely be the right solution.
The Company Aims to Reduce Financial Exclusion
Bitcoin has been a leading solution for those who are unbanked, even SpectroCoin understands this and for the same reason it is trying to provide a provision of link for these people to a global payment network. This according to the Bitcoin company will act as a social mission to reduce their financial exclusion in highly effective and low cost way.
Talking to media professionals SpectroCoin.com co-founder and CEO Vytautas Karalevicius admitted that this solution will have an impact on both Bitcoin adoption and remittances industry in the region. As Karalevicius has a background in finance thanks to his study at University of Cambridge, he will guide the company through the process.
According to Karalevicius this solution will provide a link to the Bitcoin network, which is the most accessible payment network in the world looking from an IT perspective and one of the most financially fractiored regions in the world. He admitted that with help of partners network now clients in 25 countries are able to exchange Bitcoin to cash.
Now, these clients don’t need to leave the town and in most cases the district they live in to collect their cash. Also, the solution makes Bitcoin as a payment method more accessible and provides more trust and liquidity as the users now will be certain that after receiving a transaction in Bitcoin he or she will be able to easily cash-out funds just around the corner.
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