Telcoin Blockchain extends money transfer to 23 platforms in 16 countries

• Bangladesh, BKash
• Ethiopia, HelloCash
• Fiji, Digicel Mobile Money
• Fiji, M-Paisa
• Ghana, MTN Money
• Guatemala, Tigo Money
• Indonesia, Dana
• Indonesia, GoPay
• Indonesia, LinkAja
• Indonesia, Ovo
• Kenya, Equitel Money
• Sri Lanka, Ez Cash
• Sri Lanka, mCash
• Malawi, Airtel Money
• Nepal, eSewa
• Pakistan, Easy Paisa
• Pakistan, Jazz Cash
• Philippines, Coins
• El Salvador, Tigo Money
• Tonga, Digicel Mobile Money
• Uganda, Airtel Money
• Uganda, MTN Money
• Samoa, Digicel Mobile Money

With the global average cost of sending a US$200 remittance still high at 6.5 percent in the fourth quarter of 2020, Telcoin is targeting just 2.5 percent or less for its contactless and compliance-focused service.

"Opening these initial corridors is an exciting and important foundational moment in Telcoin's journey," said CEO Paul Neuner. "We see this as not only about affordable remittances, but as a first step toward expanding the financial opportunities of people in these new markets."

The launch of these new corridors coincides with the Telcoin Application's V2.3 update, which introduces a new innovation to the remittance market that the company has coined "Active Beneficiary." In a traditional remittance, the recipient of funds must communicate a preferred destination to the sender - whether they want the inbound transfer to land in their bank account, e-wallet, as cash that can be picked up at a physical agent, and so on. Telcoin is eliminating this communication step and streamlining the remittance flow by allowing the beneficiary to decide where the funds will go. The sender simply inputs an amount in local currency along with the recipient's name and phone number. The beneficiary is then notified of the inbound transfer, and is prompted to select a destination - with fees and transfer times for each method shown transparently.

These new fiat remittance corridors pave the way for Telcoin to offer additional digital-asset backed services that will speed up transactions and lower costs even further. Telcoin's incoming V3 update seeks to tear down barriers to the accessibility of digital assets globally and leverage user-powered markets for digital asset exchange.