The company now services 25 countries, aims for 70 percent of world by end of 2018.
CoinText.io has launched its service in Hong Kong, Israel, and the Palestinian territories, according to a company press release.
With this development, the service is now available in 25 countries.
Chinese and Hebrew
The CoinText software allows users to send cryptocurrency via text message, without having to be connected to the internet. Signing up to the service entails texting the word 'START' to a given phone number. If someone is sent money and they don't have an account, the money is stored until they open one.
The service was launched in March 2018 and claims that almost 2,000 people were waiting to sign up. Initial users each received 50 cents' worth of Bitcoin Cash as a starting gift, paid for by donations from the Bitcoin Cash community. In July, the company made $600,000 in funding, mainly from a Texas-based venture capital company called Yeoman's Capital.
Hong Kong is CoinText's first Asian country. The application works in English in the two new regions, but the company says that it is working on Chinese and Hebrew language access.
Founder and lead developer Vin Armani said: "These are important regions for us to connect because they’re financial centers. And CoinText gives them a simple alternative to physical cash."
A Bank inside Your Mobile Phone
Mobile phone-based banking may be a novelty to people in the First World, but to vast swathes of humanity, it is a lifeline.
According to the World Bank, 1.7 billion adults did not have a bank account as of April 2018. However, two-thirds of these do have a mobile phone. Jim Yong Kim, World Bank Group President, said: "Financial inclusion allows people to save for family needs, borrow to support a business, or build a cushion against an emergency. Having access to financial services is a critical step towards reducing both poverty and inequality..."
In addition to this, tens of millions of Africans work abroad in order to send money home. Access to cryptocurrency could be particularly useful to them.
According to Quartz Africa, there are approximately 100 million users of mobile phone banking on the African continent, transacting $2.1 billion between them. In fact, The Economist reported last year that 25 percent of the gross national product of Kenya passes through M-Pesa, a mobile phone service.
As you can see from the map above, CoinText is not available in Africa. However, Armani once said that by the end of 2018 his company's world coverage would be almost 70 percent.
CoinText.io has launched its service in Hong Kong, Israel, and the Palestinian territories, according to a company press release.
With this development, the service is now available in 25 countries.
Chinese and Hebrew
The CoinText software allows users to send cryptocurrency via text message, without having to be connected to the internet. Signing up to the service entails texting the word 'START' to a given phone number. If someone is sent money and they don't have an account, the money is stored until they open one.
The service was launched in March 2018 and claims that almost 2,000 people were waiting to sign up. Initial users each received 50 cents' worth of Bitcoin Cash as a starting gift, paid for by donations from the Bitcoin Cash community. In July, the company made $600,000 in funding, mainly from a Texas-based venture capital company called Yeoman's Capital.
Hong Kong is CoinText's first Asian country. The application works in English in the two new regions, but the company says that it is working on Chinese and Hebrew language access.
Founder and lead developer Vin Armani said: "These are important regions for us to connect because they’re financial centers. And CoinText gives them a simple alternative to physical cash."
A Bank inside Your Mobile Phone
Mobile phone-based banking may be a novelty to people in the First World, but to vast swathes of humanity, it is a lifeline.
According to the World Bank, 1.7 billion adults did not have a bank account as of April 2018. However, two-thirds of these do have a mobile phone. Jim Yong Kim, World Bank Group President, said: "Financial inclusion allows people to save for family needs, borrow to support a business, or build a cushion against an emergency. Having access to financial services is a critical step towards reducing both poverty and inequality..."
In addition to this, tens of millions of Africans work abroad in order to send money home. Access to cryptocurrency could be particularly useful to them.
According to Quartz Africa, there are approximately 100 million users of mobile phone banking on the African continent, transacting $2.1 billion between them. In fact, The Economist reported last year that 25 percent of the gross national product of Kenya passes through M-Pesa, a mobile phone service.
As you can see from the map above, CoinText is not available in Africa. However, Armani once said that by the end of 2018 his company's world coverage would be almost 70 percent.
Bitget's Bitcoin Reserve Ratio Soars Over 300% Following Halving
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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