Volabit framed the offering as a Bitcoin-powered international money bridge for remittances and global commerce that will minimize the Bitcoin learning curve. Those wanting to send money via Coinnect deal in their local currencies without worrying about Bitcoin’s price volatility.
When a user in Buenos Aires sends ARS 1,000, a Coinnect user in Mexico City receives MXN 1,100. SatoshiTango and Volabit settle the amount between them in Bitcoin.
Users on both sides of the transaction must have a verified account with either company. They need only log in and set up a transfer. Customers can fund their accounts through the payments gateways associated with each exchange.
After funding their accounts, users can send money to any country with a Coinnect partner, each of which will have its own funding method.
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