Thunes aims to connect 1.7B unbanked with GGV Capital funds

Thunes has completed its $10 million Series A financing led by venture firm GGV Capital. Formerly known as TransferTo, Thunes is a global …

Thunes has completed its $10 million Series A financing led by venture firm GGV Capital.

Formerly known as TransferTo, Thunes is a global cross-border payments network for emerging economies that aims to make financial services accessible to everyone, including the 1.7 billion adults in emerging markets that are excluded from the global economy because they lack access to any financial services. The company’s network interconnects financial institutions and digital financial service providers, enabling the seamless movement of funds to and from emerging economies in a fast and secure manner.

The funding from GGV Capital will be used to further enrich the service offering and platform and accelerate growth across Africa, Asia, and Latin America. The goal is to build more strategic partnerships that will help bring improved payment solutions to businesses and consumers in emerging economies.

Today, the company has an active global network that reaches over 80 countries with more than 9,000 interconnected payout partners. Thunes offers four key payment solutions – P2P remittance processing, corporate mass payouts, B2B payments, and digital payment services. On a daily basis, Thunes completes more than 300,000 transactions, and processes in excess of $3 Billion USD principal per annum.

Recently, the company announced a collaboration with Western Union to expand payout capabilities to mobile wallets. Thunes partnered with PayPal and M-PESA to deliver alternative payment solutions that allow Kenyan consumers and businesses to take full advantage of global e-commerce. Thunes has also joined forces with Grab, South-East Asia’s leading mobile ride-hailing and payment platform, to enable real-time mass salary payouts for their drivers.

Further financial terms of this deal have not been disclosed. The deal has already secured approval from the FCA.

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Cross-border payments startup Thunes raises $10m

… a Singapore-based cross-border payments network for emerging economies, has raised $10 million in a Series A funding round led by GGV Capital.
Previously called TransferTo, Thunes specialises in four payment areas: P2P remittance processing, corporate mass payouts, B2B payments, and digital payment services.

The firm has built up a network that reaches over 80 countries with more than 9000 interconnected payout partners and completes more than 300,000 transactions a day.

It recently inked a deal with Western Union to expand payout capabilities to mobile wallets and also works with PayPal and M-Pesa in Kenya as well as Asian ride-hailing giant Grab.

The new funding will be used to accelerate growth across Africa, Asia and Latin America.

Peter De Caluwe, executive chairman, Thunes, says: “This funding allows us to accelerate our company mission and we are all excited for the year ahead.”

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Payment Fintech Thunes Raises $10 Million Series A

Thunes (previously DBA as TransferTo), a cross-border payments Fintech, has completed a $10 million Series A financing led by GGV Capital. Thunes …

Thunes (previously DBA as TransferTo), a cross-border payments Fintech, has completed a $10 million Series A financing led by GGV Capital. Thunes is a Licensed Payments Service Provider in the UK.

Headquartered in Singapore, Thunes connects mobile wallet operators, corporates, merchants, money transfer operators, payment service providers and banks to support payment and transfer methods. Thunes’ mission is to make financial services global and accessible to everyone, including the 1.7 billion adults in emerging markets that are excluded from the global economy because they lack access to any financial services.

The funding from GGV Capital will be used to boost growth across Africa, Asia, and Latin America.

Thunes will also open offices in San Francisco, USA, Dubai, UAE, and Paris, France to enable closer interaction with the growing customer and partner base.

Thunes Executive Chairman, Peter De Caluwe said they were proud to have top VC GGV Capital back their firm. He said they have hired experienced CEO, Steve Vickers, to lead Thunes’ global expansion and take the business to the next level.

“This funding allows us to accelerate our company mission and we are all excited for the year ahead.”

Thunes reports an active global network that reaches over 80 countries with more than 9,000 interconnected payout partners. Thunes offers four key payment solutions – P2P remittance processing, corporate payouts, B2B payments, and digital payment services. On a daily basis, Thunes says it completes more than 300,000 transactions, and processes in excess of $3 Billion USD principal per annum.

Recently, Thunes announced a collaboration with Western Union to expand payout capabilities to mobile wallets.

Thunes has partnered with PayPal and M-PESA to deliver alternative payment solutions that allow Kenyan consumers and businesses to take full advantage of global e-commerce.

Thunes has also joined forces with Grab, South-East Asia’s leading mobile ride-hailing and payment platform, to enable real-time mass salary payouts for their drivers.

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Bitcoin’s Lightning Network Comes to the Apple Watch

SegWit: “SegWit supported in P2SH-compatibility mode.” HD Wallets: Support for “Hierarchical Deterministic (HD) key creation and transfer protocol …

On Sunday (May 5), BlueWallet Services released a new version (v4.0.0) of its Bitcoin and Lightning wallet for iOS, which is called “BlueWallet”; this “milestone” release comes with an Apple Watch app that allows users to generate Lightning invoices directly on the watch.

What is BlueWallet?

BlueWallet is an open source (MIT-licensed) mobile Bitcoin wallet that was created as the result of a collaboration between UX Designer and Product manager Nuno Coelho (based in Barcelona) and developers Igor Korsakov (based in London) and Marcos Rodriguez (based in Atlanta). 

In a blog post published on December 3, Coelho explained the motivation behind BlueWallet:

“We were deeply frustrated with the current status of mobile wallet development on Bitcoin. Most of the wallets out there became a shitcoin horror show. Onboarding users to pure speculative useless tokens, where the creators are making money while the normal user is being introduced to scams, frauds on top of being directed to the least interesting aspect of the technology. Wasting time, creating frustration, and thereby resulting to a slow adoption… We want to bring to the community a wallet focused on the users and their usage.”

He also explained that the BlueWallet team would be focusing its efforts on two pillars: “Security and User Experience.”

BlueWallet’s features include:

  • Sentinel Wallets: “Watch-only wallets allow you to keep an eye on your cold storage without touching your private key. Easily import your address or xpub and watch it from your app without ever touching it.”
  • SegWit: “SegWit supported in P2SH-compatibility mode.”
  • HD Wallets: Support for “Hierarchical Deterministic (HD) key creation and transfer protocol (BIP32)” means that a public key is generated for each transaction.
  • Multiple Wallets: All major wallet standards, i.e. BIP44 (HD), BIP49 (HD SegWit), BIP39 (Breadwallet-compatible), Legacy single-address, and SegWit single-address (P2SH) are supported.
  • Flexible Fees: Starting with 1 Satoshi, you control “the amount you want to add to your transaction,” with BlueWallet assisting providing “fee estimation to give you an idea how much to add to your transaction to be included on the next block.”
  • Lightning Wallets: Support for the Lightning protocol means you have access to ultra cheap and fast transactions.

Support for the Lightning Network

In a blog post published on Wednesday (December 19), BlueWallet’s lead developer Igor Korsakov announced that BlueWallet had just added support for the Lightning Network. 

Korsakov started by saying that although the Lightning Network “promises low-fees and instant payments,” it has the drawback of bringing “a lot of complexities and unfamiliarities to unsuspecting users.”

He then said that they had decided to take a new approach to Lightning: 

“We decided to hide the complexity of running a node under the hood and take over the work of hub operator. This makes the user experience smooth, bringing Lightning payments to anyone who is at least remotely acquainted with cryptocurrencies and mobile wallets. We called it LndHub, an opensource wrapper around LND. This is ‘3rd layer solution’ (as we jokingly call it; of course this is not real 3rd layer).”

Then, on January 2, Korsakov announced that the BlueWallet team had added a Lightning-powered App (Lapp) Browser to allow users “to interact with Lightning-powered apps with less friction.”

Apple Watch Support

A blog post on April 9 brought the news that the BlueWallet team was experimenting with adding support for the Apple Watch:

“We have been playing with one more experiment. This time for Apple Watch users. At the moment, we are in the final phase of testing. But it should come out this month. First iteration will be very rudimentary, with the paring and enclave with your iPhone and the receive feature for onchain wallets. Next iterations will include more features :)”

This news did not come as a complete shock to all BlueWallet users since the team had provided a pretty good clue that they were working on this feature as far back as March 19:

Sneak peak ⌚️⚡️

Bitcoin is too hard to use. Let’s make it a couple of taps then 😉 pic.twitter.com/ioYbrKtNoc

— bluewallet (@bluewalletio) March 19, 2019

However, it was not until yesterday (May 5) that this watch app got its first general release. Here are its main features:

  • wallets:
    • “individual wallet details and basic functionality”
    • “access all your wallets from your watch”
  • transactions: “see latest transactions from your wallets”
  • Lightning payments: “receive payments directly
 on your watch”

Here is one happy BlueWallet user tweeting about how easy it is to use the app to generate Lightning invoices on the apple Watch:

I’m living in the Future 😎

Takes 5-10 seconds to prepare a lightning invoice on my watch

Immensely cool work from @bluewalletio@nvcoelhopic.twitter.com/4ftOVL7dKD

— JP [ ₿ ⚡️] (@jpthor__) May 6, 2019

 

Featured Image Courtesy of BlueWallet Services

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Litecoin Branded Tablets Available in the Market

The hardware makes it easy for users to keep their cryptocurrency wallet pass phrases secure thereby locking out people who would have remotely …

One of the main challenges that have being facing cryptocurrency investors, traders, and users is security. With the rise in number of hacking attempts, there is need for crypto companies to come up with robust ways of protecting their users.

Litecoin Branded Tablets Introduced to Enhance Security

Litecoin is one of the companies in this niche that is in the forefront to ensure that users’ investments are secure round the clock. Litecoin Foundation recently introduced a cryptocurrency tablet in collaboration with Cobo. Litecoin logo is perfectly inscribed at the top section of the tablet to make it unique.

One of the highlights of this advanced custom tablet from Litecoin is that it is designed to secure recovery phrases that users are accustomed to using to gain access to their digital wallets. The hardware makes it easy for users to keep their cryptocurrency wallet pass phrases secure thereby locking out people who would have remotely accessed them if they were stored in any other device or location.

Litecoin tablet

Another highlight of Litecoin tablet is that the body is made from 6-series aluminium, the same material that is used to manufacture airplanes. Durability, efficiency, and convenience are some of the words that can be used to describe this new Litecoin tablets.

Most of the conventional tablets in the market are only water resistant. Litecoin tablet manufacturer went an extra mile to make the device not only water resistant but also corrosion and acid resistant. This means that users will always have access to their pass phrases by investing in the tablet.

The latest report from the manufacturer reveals that the tablet is capable of supporting 12, 18, and 24-seed recovery phrases. Some of the best cryptocurrency wallets such as Exodus and Jaxx recently introduced recovery phrase mechanism that works just as the private address used in respective crypto wallets. The private address is used to not only access but also make transactions from individual wallets.

Details of Cobo – The Litecoin Tablet Manufacturer

Cobo is a renowned software wallet and cryptocurrency hardware manufacturer. The main goal of the company is to enhance security and feasibility of owning digital currencies. The company has a mobile wallet, cold storage wallet and recently started offering cryptocurrency custodial services that are designed for institutional investors.

Closing Remarks

Litecoin is ranked among the top five cryptocurrencies in the world based on total market capitalization. Since January this year, Litecoin has being trading at 150% higher compared to last year. At the time of writing, the price is $79.56.

Read more cryptocurrency news here.

Litecoin Branded Tablets Available in the Market was last modified: May 6th, 2019 by AlphanMaina

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