FOREWORD FROM OUR CEO:
As the first half of the year ends, what I feel the most is excitement. As we’re getting our regulatory approvals, we’re finally able to integrate partners and open remittance corridors, the first phase of our financial inclusion plan.
In this gigantic market, incumbents are strong and new entrants are still coming, but everything we have seen so far confirms our initial impression: the infrastructure laid by telecom operators and their mobile money services is the most spread and robust ground for our service to start, grow, and thrive.
Seeing all of our efforts come to fruition is making the team happy, and knowing what’s coming this year, I’m filled with excitement.
TELCOIN iOS AND ANDROID WALLET IS NOW AVAILABLE
This month saw the release of our highly anticipated Telcoin Wallet for both iOS and Android users, marking a major milestone in our company’s progress. The development team, alongside our community ambassadors, have worked tirelessly to ensure that the wallet is as simple to use as it is stunning to look at, and we could not be more proud to release it to the world.
Bear in mind that this is just the first iteration of the wallet, with additional markets and functionality being added over time as we roll out our convenient and affordable remittance services around the globe. If you haven’t already downloaded the Telcoin Wallet on your mobile device, you can do so at the following links:
TELCOIN / VIMO PARTNERSHIP ANNOUNCED
Earlier this month Telcoin was pleased to announce our partnership with Vimo, Vietnam’s leading mobile wallet. Offering remittances to the Vietnamese diaspora is an important step toward our mission of financial inclusion.
With over 1 million wallets, Vimo is among the fastest-growing mobile money services in Vietnam, offering users access to P2P transfers, bill payment, ecommerce payment, mobile top-up, and bank transfers. Our partnership with Vimo will provide Telcoin users in Vietnam with a number of options to easily spend the money they receive for the goods and services that they want. More information about the Telcoin / Vimo partnership can be seen in the video below
SOUTH-EAST ASIA NETWORKS CONTINUE TO EXPAND
Throughout June, Claude traveled across Southeast Asia to meet with regulators, central banks, and telecom partners in Vietnam, Singapore, and Malaysia. During his time in Vietnam, he also met with the Mobile Services and Payments department of Mobifone, a state-owned telco that is one of the largest operators in the country with over 9 million subscribers. In addition to offering standard mobile phone services, it also has a robust mobile money platform that is widely used across the country.
Vietnam is currently the recipient of nearly $14 billion in annual remittances and we look forward to furthering our talks with Mobifone and expanding our presence in Vietnam.
FURTHERING CONNECTIONS IN AFRICA
Jeff Quigley and Matsuoka Nobuske held a meeting with Burkina Faso’s Ambassador to Japan to discuss Telcoin’s business model, the regulatory landscape, and current remittance issues the country faces. With close to $500 million in global remittances entering the country each year, the government is keen to adopt new systems and technologies that can offer better value to those who rely on international money transfers from friends and family abroad.
Telcoin is committed to bringing fast, affordable, and convenient remittances to the African continent and we are proud to be leading the way toward making financial inclusion a reality for everyone.
THE USA JOURNEY HAS BEGUN
June marked the beginning of our formal entry into the American market, a region from which we aim to provide outbound remittance services in the near future. We incorporated and registered with FINCEN (Financial Crimes Enforcement Network), a necessary step in order to be compliant with all US-based AML laws and regulations.
Following our successful FINCEN registration, we have now begun state by state licenses applications to ensure that US-based Telcoin users will have access to our services wherever they are located. As with all markets, we see great value in taking a careful compliance-first approach to the US and expect this to pay off in the near future.
COMMUNITY AMBASSADOR PROGRAM
This month we are pleased to announce some new additions to our Community Ambassador program. Our Ambassadors play a huge role in helping us manage the community as well as contribute ideas and give general feedback into ways we could be involving and supporting our community more. We are very grateful for the support and influence they give to us and look forward to continuing to work closely with them! Join the community: Telcoin Community