The partnership will allow Filipinos in Canada to use the ZipZap mobile app, connect it to their bank account and send money back to the Philippines using their smartphones without having to know anything about Bitcoin as a transfer mechanism. Rebit is the flagship service of financial technology (fintech) startup Satoshi Citadel Industries (SCI), a bitcoin service provider in the Philippines.
Both companies will use Bitcoin blockchain technology that provides a shared public ledger made through a tamper-proof data structure.
The ZipZap mobile app will be leveraging on Rebit’s expertise on Bitcoin-powered remittances.
ZipZap raised USD 2.2 million in venture capital funding in 2014 from the likes of Angelist, 500 Startups and Blockchain Capital.
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