Becoming one of the first bitcoin companies to trade publicly in May through a reverse merger, Digital BTC has gone through a series of evolutions. First launched as a firm involved in bitcoin mining and trading, that section of their business is now being replaced with their AirPocket global remittance app. The exit from mining was first confirmed to Sydney Morning Herald today.
The arrival of AirPocket comes as the firm had stated earlier in the year that they were creating the product. Being announced today is the beginning of public beta testing of the AirPocket remittance service.
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According to Digital BTC, the AirPocket beta phase will be open to 50 users. In its beta stage, the app will provide remittance services between the US and Dominican Republic. The firm stated that this beta stage is being conducted to test the user experience of the app, with a broader beta testing phase scheduled for later in Q4 2015.
According to Digital BTC, the app is compliant with KYC and AML regulations in countries where it is planned for operation. In addition, despite moving away from bitcoin mining, AirPocket is being built on the blockchain’s technology to provide an open ledger to remittance transfers.
In a public statement, Zhenya Tsvetnenko, Digital BTC Executive Chairman, commented: “It has taken months of hard work and perseverance to get the AirPocket application to this stage.” He added: “We’re confident of the application’s ability to securely transfer and remit funds and we hope this phase of testing will enable us to improve on the user experience of the interface before we launch it in a wider public environment in 2016”.