BitMinutes Announces Partnership With RED DE EFECTIVO, Creating Massive Footprint in Colombia

BitMinutes Inc., a blockchain technology company and creator of BitMinutes, the first prepaid cell phone minute token (BMT token), announces a partnership with RED DE EFECTIVO, one of Colombia's largest financial institutions. It is a provider of domestic money transfer services as well as prepaid cell phone minutes to millions of Colombians.

BitMinutes Logo

BitMinutes Inc., a blockchain technology company and creator of BitMinutes, the first prepaid cell phone minute token (BMT token), announces a partnership with RED DE EFECTIVO, one of Colombia’s largest financial institutions. It is a provider of domestic money transfer services as well as prepaid cell phone minutes to millions of Colombians.

The deal dramatically increases BitMinutes’ footprint in South America, where the BitMinute token can be used as currency to buy goods and services, as well as issue micro-loans as low as $5. This partnership forwards the company’s goals to provide low-cost financial services to the world’s two billion under-banked consumers.

RED DE EFECTIVO has agreed to market and promote BitMinutes money transfer services and support financial inclusion and microlending to their network of over 20,000 partners nationwide. The project will be operational in late June, with a pilot roll out in July.

We've been working on this deal for a long time. Now that we have a distribution blueprint, more partnerships will follow, especially in Latin America.

Tom Meredith

CEO, BitMinutes Inc.

“We’ve been working on this deal for a long time,” said BitMinutes CEO Tom Meredith. “Now that we have a distribution blueprint, more partnerships will follow, especially in Latin America.”

About BitMinutes Technology

BitMinutes technology harnesses the decentralized power of the Ethereum blockchain by leveraging the digital ledger behind user data for making purchases, transferring money, generating loans and using airtime minutes. Selling and lending BitMinutes-based micro-loans will create a business opportunity for entrepreneurs globally. BitMinutes turns the corner retailer into the corner banker, delivering banking services to the smallest of villages and towns worldwide. And, most importantly, doing it profitably even for a $5 loan.

About BitMinutes the Company

BitMinutes is a start-up fintech company, founded in the U.S., with a European subsidiary in Vaduz, Liechtenstein. BitMinutes is a cryptocurrency backed by prepaid airtime minutes, a real asset already traded informally globally by billions of mobile phone owners.

The BitMinutes tagline “Better Crypto for a Better World” reflects the fact that BitMinutes tokens allow peer-to-peer cash transactions to over 2 billion bank accounts in 70 countries and prepaid top-up to over 4 billion mobile accounts in over 200 countries. BitMinutes facilitates the expansion of micro-credit and nano-credit lending in communities where lending is rare and too expensive for most individual borrowers. BitMinutes ownership and transactional records will establish a new type of consumer credit score for emerging market consumers who currently struggle with limited access to capital and a lack of traditional banking services. BitMinutes launched its ICO on April 30, 2018, and exceeded its soft cap of $2 million soon thereafter.

More details are provided at www.BitMinutes.com.

Contact: Nona Perez MVG, +1 646 205 7030, info@mvgmain.com

Source: BitMinutes Inc.


Categories: Cryptocurrency

Tags: BitMinutes, blockchain, BMT, Columbia, Cryptocurrency, Ethereum, Financial Institution, Fintech, micro-loans, prepaid minutes, Red De Efectivo, Start-up


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