25 Nov '14, 7pm

Bitspark Enters Hong Kong's Remittance Market With Bitcoin-Powered Solution

Bitspark Enters Hong Kong's Remittance Market With Bitcoin-Powered Solution

Joseph Joel Bayaua is employed as a private driver by a family in Hong Kong. He has worked in the special administrative region for four years. When Bayaua sends part of his earnings back to his family in Santiago, a city of 132,000 people in the Philippines' northern Isabela province, he selects either a Western Union money transfer or an inter-bank transfer. He usually ends up choosing Western Union. Bayaua explained: "Both methods of sending money are basically the same. They just differ sometimes by the rate of their transfer fees, but I prefer Western Union over bank-to-bank transfer because it is more convenient for the recipient, for having numerous branches of Western Union back home." Bayaua now has a new option for sending money home. A startup called Bitspark is aiming its bitcoin-enabled remittance service at people like Bayaua and the estimated 164,000 Filipin...

Full article: http://www.coindesk.com/bitspark-hong-kong-remittance/

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