We’ve created this monthly newsletter to share our latest project updates, announcements, and other relevant information regarding Telcoin and the blockchain ecosystem. As always, stay tuned to our Telegram community and announcements channels for the most immediate updates and alerts.
Faster than ever.
April was a hectic month at Telcoin, and I’m glad to say that the transition from office work to full remote for everybody has brought us a lot of speed. In addition to building the technology we need to send money across the globe, we have been connecting with new partners in North America and Asia to make our business more efficient and ensure low rates for our transfers. We still need to address a few issues before we can allow everyone to send money smarter, but we’re getting there faster than ever.
– Claude Eguienta (Telcoin CEO)
Back on track
Operationally and financially, Q1 was a rebuilding quarter for Telcoin. It has been very challenging for us to go through a restructuring while preparing our first release, but I am very proud of the team for sticking together and getting through this transition period. We have succeeded in raising the necessary funds to get us back on track and have successfully trimmed our budget to a sustainable level, without sacrificing our ability to deliver and market Telcoin. I think we are blessed to have gone through this prior to our release, and prior to the COVID crisis – and hopefully can play an important role in delivering relief safely and conveniently to those affected by the current crisis. Thank you to everyone who has supported us and stayed with us during these trying times. We are now lean, efficient, and ready to go!
– Paul Neuener (Telcoin Chairman)
Diving deeper into the Philippine market with ECPay
In March, Telcoin announced a partnership with Philippines e-payments provider ECPay. The partnership will give Filipinos the ability to purchase TEL from ECPay’s network of partner outlets nationwide.ECPay is a one-stop-shop for payment, top-up, and cash-in services in the Philippines, with more than 9,000 partner outlets nationwide, operating 24-hours, seven days a week.ECPay has sites located in retail chains such as 7-Eleven, San Mig Food Avenue, and select petrol stations, supermarkets, department stores, malls, pawnshops, remittance centers, and other retail outlets throughout the country. To date, ECPay serves as one of the biggest third-party payment providers for more than 150 billers and merchant partners and processes well over 100,000 transactions daily for its users.
Opening the door to Indonesia
March also saw us announce a new partnership with Indonesian application-based electronic financial service provider LinkAja. Under the partnership, we will be providing our services to their 40 million-plus users in the near future. Both Telcoin and LinkAja share a common goal centered around providing users with the tools to achieve financial inclusion on their mobile device, and we look forward to working together to provide our services for millions of Indonesians.
When the dream starts to become a reality
In April, we inched closer than ever to making our dream of fast, affordable, and reliable remittances a reality when we initiated the beta testing of live transfers from Canada to the Philippines. The beta program will give us an opportunity to test our tech and ensure that our system is optimized and working flawlessly in preparation for opening our first remittance corridor.
We would like to thank in advance the community members who offered their support and time to be some of the first people to send live transfers using the Telcoin ecosystem. We will update the community on the beta testing as we progress through it.
Smart contract update.Telcoin recently underwent a smart contract update, which unfortunately caused a bit of disruption for our users and took longer to complete then we had initially planned.
Ultimately, the update was a success and all issues have since been resolved. You should be able to access the new TEL tokens in your wallet or cold storage device, however, some third party wallets do not automatically update the new smart contract address. In this case, you may be required to manually add it as a custom token.
New TEL smart contract address:
A closer look at why Telcoin is needed now more than ever.
As we’re on the cusp of opening our first live remittance corridor, members of the Telcoin team have been publishing weekly blog posts on Medium to share more about the state of various remittance markets and how we will empower users through crises like the ongoing COVID-19 pandemic. Follow our Medium page here, and see below for the articles we’ve published thus far:
Send Money Safely: Telcoin remittances in the age of COVID-19
Digital money transfer aligns with social distancing measures and complies with lockdowns.
Ripe for disruption: Sub-Saharan Africa’s outrageously expensive remittance corridors
Sending money to Africa can cost upwards of 10%. Telcoin will do it for a fraction of that.
The COVID-19 pandemic exposes cracks in remittance industry, opportunities for crypto
Cheaper, faster, and more reliable digital remittances are needed now more than ever. Telcoin checks all the boxes while providing an easy onramp to the blockchain economy.
Telcoin’s fast, affordable, and contactless digital remittances will help Filipinos weather the COVID19 crisis
Despite the ongoing pandemic, the Philippines’ central bank is targeting 3% remittance inflow growth in 2020. The country received more than $30B last year.
Thank you for reading and embarking on this exciting journey with us! We’re always open to questions and comments via our Telegram community channel or [email protected].
If you’re a telecom operator interested in offering your subscribers a better remittance solution, drop us a line at [email protected].
Companies in the blockchain and cryptocurrency space that want to collaborate with Telcoin can reach out via [email protected].
Don’t forget to follow us on Twitter at @telcoin_team, and on Reddit at r/Telcoin. Tell a friend or family member and help us spread our mission of financial inclusion via any mobile device. Every person counts!
The Telcoin team