Digital payments platform, Centbee has announced a new feature called Centbee Remit that allows users to send cash from their Bitcoin wallet to friends and family’s wallets, bank accounts or even for cash pickup.
The announcement was made at the BSV Global Blockchain Convention in a session dedicated to shining a light on areas of payments and fintech, the creative economy and Web3 as well as how enterprise-level blockchain is re-inventing industries.
The 3-day event that started on 24th May at the Grand Hyatt in Dubai showcases the capabilities and wide range of applications possible on the BSV Blockchain and focuses heavily on the scaling options for the public blockchain ecosystem.
The BSV (Bitcoin Satoshi Vision) blockchain is a variant of Bitcoin which arose in 2018 and uses bigger blocks (up to 2GB compared to the original 1MB) to increase the currency’s transaction limits allowing faster and cheaper transactions for scaling.
On day 2 of the convention, Centbee announced it had opened up remittances to Africa to enable users in the diaspora to send money home cheaply. With other countries set to follow soon, the functionality currently allows users in the United Kingdom to send money to West Africa.
Founded in 2017, Centbee is a payment company providing cross-border remittances and digital wallets to enable financially excluded customers to buy a wide range of important digital goods and send money to family and friends quickly and cheaply.
Centbee now allows users to send money using a Bitcoin wallet from anywhere in the world to Centbee termination points in African countries like Uganda, Ghana, Senegal, Nigeria, Kenya, Tanzania and a whole number of others.
Users have the options to choose between mobile money beneficiaries through its African corridor or bank account beneficiary or even cash pickup beneficiary.
Centbee Co-Founder and CEO Lorien Gamaroff said. “So I’m very proud to announce that right now, in Centbee wallet, you are able to actually do a cross-border remit from anywhere in the world, so we’ve opened up remittances to Africa.”
According to Gamaroff, this development makes Centbee a “super app” since the wallet not only offers remittances but can also store value which Centbee customers can use to pay for all the things they need.
Centbee is building an ecosystem of merchants and customers, providing the ‘on-ramps’ to the bitcoin super-highway based on the belief that Bitcoin SV will be the fastest, cheapest and best way to pay for goods and services at any retailer anywhere in the world.
The Centbee ecosystem leverages blockchain’s security and immutability features to give its users an intuitive wallet from which they can send and receive Bitcoin SV while providing an interface to allow them to receive payments that can be settled in local currencies, removing the risk of Bitcoin SV price volatility.