UK-based fintech BABB to offer cheaper remittances

The blockchain-based fintech leverages technologies to bypass traditional banking networks and third-parties to enable peer to peer (P2P) payments as well as facilitate international fundraising. The company intends to offer universally inclusive banking technology to allow users to send and receive money to and from family members abroad.

BABB currently supports remittances in more than 130 countries, for over 42,000 verified users and over 100,000 registered users. The fintech manages more than GBP 2.1m (USD 2.5m) in processed transactions. The company said it aims to offer a UK bank account and payment cards to anyone in the world, once it secures a banking licence, according to electronicpaymentsinternational.com.
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