Other partners include Coinone, Bluepan, MOIN, Sentbe, Finshot, Streami, Wisending and Bithere and the initiative will offer Korean customers low cost money transfers to more than 20 payout countries on the network, including the Philippines, China, Japan, India and Indonesia.
OKLink is an open digital wallet created by OKCoin, a Chinese Bitcoin exchange, designed to allow national and digital currencies to instantly transact across borders and currencies, with no fees. In October 2016, the OKLink team offered USD 100 million in free remittance trades to international remittance partner companies in order to promote their service and accelerate growth.
The company’s ambition is fuelled by the Korean government’s decision to institutionalize digital currencies and ramp up fintech development. In fact, in October 2016 Korea’s Financial Services Commission (FSC) said they will institutionalize digital currencies such as Bitcoin and ramp up the size of average annual policy finance from 500 billion won (USD 437 million) to one trillion won (USD 873 million) for the development of fintech, according to Bitcoin Magazine.
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