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About RemittanceToken(REMCO)

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What problem does Remittance Token solve? (or: what human need does it satisfy?) and how exactly does it do so?

REMCO blockchain solution is a Tokenized money transfer platform with unparalleled speed, designed for licensed money transmitters.

REMCO's technology platform provides money transmitters, agents and customers a proven "out-of-the" box ledger solution to move money at the speed of thought.

Per the pilot conducted by VTNGLOBAL in the States of Georgia and Illinois in comparison to the traditional way of sending money, the test reveals that the REMCO process is ten times faster and more affordable.

It's a Powerful Distributed Token-Generating Platform for Money Transfer. The REMCO Token Generating Platform’s APIs to allow any licensed money transmitter to mint programmable Tokens to move value and leverage distributed ledger advantages at speed and scale, while also offering innovative compensation to all transaction stakeholders. Our Token is Jurisdiction and Money Transmission Flow Agnostic. Meaning it works with the existing model.

The parent company has Money transmitter and mobile payment licenses and has processed billions in transactions with millions of subscribers.

The parent company has many jurisdictional money transmitter licenses in the USA and CBN licenses for mobile payment and international money transfers. These businesses will be the first client of REMCO post-launch ensuring instant usage of REMCO's blockchain infrastructure.

We have existing integrations and process transactions daily for well-known corporates such as Western Union, IDT/Boss Revolution, Transfer-To, and many others.

Currently serving over 3.6m subscribers and over $700,000,000 in volume in the last 24 months.

Peter Ojo, also VTNGlobal's CEO, has a history of taking first mover advantage with FinTech solutions deployed in Nigeria that still lead in that market. His Nigerian company, VTNetwork Limited, holds two licenses with the Central Bank of Nigeria for mobile payments and international money transfer, in a country of over 180 million population, where most are unbanked.

The company also plans an initiative that may have an even larger industry-wide impact. It will apply for a national bank charter in the USA, a new designation recently announced from The Office of the Comptroller of the Currency and will launch an MSB-centric bank, to serve the needs of licensed MSBs across the USA.

Remco has big plans with an ICO this Fall that will build out the RemittanceToken platform capabilities, and fund rapid expansion across the USA and into many more markets.

How is the idea monetized? How do the token holders profit?

Our ecosystem differs from competing projects:

REMITTANCE COMPANIES:

-Can mint tokens in any currency

-Distribute their token to end users directly

-De?ne the characteristics of their token

-Token can be used to remit money to bank/mobile wallets globally

-Tie their token to mobile wallet payoutnetwork globally

-Distribute their token to their agents

AGENTS:

-Reduce the time spent with senders by 90%

-Earn token activation commissions for less effort

-Potentially also earn token usage fee commissions throughout the lifespan of the token

CONSUMERS:

-Use tokens to send money to bank accounts or mobile wallets or for cash pickup globally

-Use tokens to send multiple transactions affordably

-Send money at any time of the day with the assurance that the transaction will gothrough

-No need to wait for an agent or MTO con?rmations. Money goes directly to recipients in real time

Leverage on our existing reach:

-Money Transmitter licenses in the USA

-Mobile payment and IMTO license

-Existing partners: Western Union, IDT/BOss/ Transferto and more.

-3.6 M subscribers

-Easy-to-use and deploy

-Proven capable tech

-Secure with recorded transactions

Team

RemittanceToken's team members.

Peter Ojo

Peter Ojo

Founder

Linkedin
Joel Patenaude

Joel Patenaude

COO

Linkedin
Catherine Berruer

Catherine Berruer

Vice President

Linkedin
Olufunmilayo Ojo

Olufunmilayo Ojo

Director of Operations Africa

Linkedin

Roadmap


 
August 2017 Parent company Integration of Tokenized/ cashless card for termination to 22 Commercial Banks
November 2017 Parent company received Money Transmission licenses in the states of Illinois, USA
December 2017 Parent company received Money Transmission licenses in the states of Georgia, USA- December/2018
January 2018 Tokenized/ cashless card money transfer off-chain launched in Illinois, USA
February 2018 Tokenized/ cashless card money transfer off-chain launched Georgia, USA
March 2018 Travelled to Tokyo, Japan for Blockchain event meeting with various blockchain innovators
June 2018 Blockchain Project initiation
July 2018 Blockchain infrastructure development start
July 2018 Investment from Parent company
August 2018 Legal adviser appointed
September 2018 Parent company received Money Transmission licenses in the state of Maryland, USA
October 2018 Parent company committed to the Private sale
November 2018 Blockchain infrastructure development testing completed
April 2019 Blockchain infrastructure to go live on or before
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Quick notes

Tokenomics

Token Info

Available tokens: 65% Price: 0.08 USD Soft Cap: $6,000,000 Hard Cap: $60,000,000 Buy with: BTC, BCH, ETH Platform: Ethereum Location: USA

Other Info

MVP/Prototype: Yes Escrow: No Category: Financial Services

User ratings

Rate the Profit Potential

What problem does Remittance Token solve? (or: what human need does it satisfy?) and how exactly does it do so?

REMCO blockchain solution is a Tokenized money transfer platform with unparalleled speed, designed for licensed money transmitters.

REMCO's technology platform provides money transmitters, agents and customers a proven "out-of-the" box ledger solution to move money at the speed of thought.

Per the pilot conducted by VTNGLOBAL in the States of Georgia and Illinois in comparison to the traditional way of sending money, the test reveals that the REMCO process is ten times faster and more affordable.

It's a Powerful Distributed Token-Generating Platform for Money Transfer. The REMCO Token Generating Platform’s APIs to allow any licensed money transmitter to mint programmable Tokens to move value and leverage distributed ledger advantages at speed and scale, while also offering innovative compensation to all transaction stakeholders. Our Token is Jurisdiction and Money Transmission Flow Agnostic. Meaning it works with the existing model.

The parent company has Money transmitter and mobile payment licenses and has processed billions in transactions with millions of subscribers.

The parent company has many jurisdictional money transmitter licenses in the USA and CBN licenses for mobile payment and international money transfers. These businesses will be the first client of REMCO post-launch ensuring instant usage of REMCO's blockchain infrastructure.

We have existing integrations and process transactions daily for well-known corporates such as Western Union, IDT/Boss Revolution, Transfer-To, and many others.

Currently serving over 3.6m subscribers and over $700,000,000 in volume in the last 24 months.

Peter Ojo, also VTNGlobal's CEO, has a history of taking first mover advantage with FinTech solutions deployed in Nigeria that still lead in that market. His Nigerian company, VTNetwork Limited, holds two licenses with the Central Bank of Nigeria for mobile payments and international money transfer, in a country of over 180 million population, where most are unbanked.

The company also plans an initiative that may have an even larger industry-wide impact. It will apply for a national bank charter in the USA, a new designation recently announced from The Office of the Comptroller of the Currency and will launch an MSB-centric bank, to serve the needs of licensed MSBs across the USA.

Remco has big plans with an ICO this Fall that will build out the RemittanceToken platform capabilities, and fund rapid expansion across the USA and into many more markets.

How is the idea monetized? How do the token holders profit?

Our ecosystem differs from competing projects:

REMITTANCE COMPANIES:

-Can mint tokens in any currency

-Distribute their token to end users directly

-De?ne the characteristics of their token

-Token can be used to remit money to bank/mobile wallets globally

-Tie their token to mobile wallet payoutnetwork globally

-Distribute their token to their agents

AGENTS:

-Reduce the time spent with senders by 90%

-Earn token activation commissions for less effort

-Potentially also earn token usage fee commissions throughout the lifespan of the token

CONSUMERS:

-Use tokens to send money to bank accounts or mobile wallets or for cash pickup globally

-Use tokens to send multiple transactions affordably

-Send money at any time of the day with the assurance that the transaction will gothrough

-No need to wait for an agent or MTO con?rmations. Money goes directly to recipients in real time

Leverage on our existing reach:

-Money Transmitter licenses in the USA

-Mobile payment and IMTO license

-Existing partners: Western Union, IDT/BOss/ Transferto and more.

-3.6 M subscribers

-Easy-to-use and deploy

-Proven capable tech

-Secure with recorded transactions

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