A new Bitcoin remittance service has started in Vietnam called Cash2vn. Created by Bitcoin Vietnam Co. Ltd , Vietnamese who have a verified bank account can send funds to contacts anywhere. The transaction is done for a flat fee of US$2, leveraging the use of cryptocurrency in order to “create real advantages for consumers and business.”
“The lowest-hanging fruit here, despite very vivid competition in this market, is the remittance market, since one of Bitcoins core value propositions is the borderless nature of almost free monetary transactions.”
— Dominik Weil, Co-Founder of Bitcoin Vietnam Co., Ltd
The team says it’s dedicated to building the necessary foundations to bring access to the Bitcoin economy to the Vietnamese market. Bitcoin Vietnam recently also launched the country’s first live trading platform, VBTC. To continue their efforts, Co-founder Dominik Weil tells us the remittance service was the “first step” in defining Bitcoin’s “core value propositions” in the country.
Launched in March 2014, Bitcoin Vietnam has been introducing the digital currency to locals in the region ever since. Weil says residents have little faith in the Dong (VND) and “don’t store their wealth in