Fintech startup Freemit is about to launch the next generation of money transfer.
“Money when you need it, anywhere, in any currency, from anyone, in seconds, NO fees,” states the Freemit website in simple and very disruptive terms. “Send, spend and get money anywhere in seconds. Skip the bank with our Bitcoin-powered exchange and pay no fees, ever.”
The Freemit service, which includes a phone app and a (presumably virtual) credit card, is scheduled to start rolling out in 2016 and incentivize users with $10 in their accounts. In the meantime, interested readers can sign up for a waiting list.
“Freemit is a financial travel companion that empowers 3.6 billion travelers, students and others with a digital wallet, giving them financial independence to instantly access their financial resources using bitcoin,” reads Freemit’s Crunchbase profile . “They are creating a streamlined, inexpensive alternative to the current remittance and currency exchange systems. Using the blockchain and a local currency in/local currency out vision, they will make moving money cheaper, better, and friction-free.” The company received $120,000 seed funding in January 2015.
“Our banks are robbing us,” stated Freemit founder and CEO John Biggs as first reported by Crowdfund Insider . “And this