Bitt, out of Barbados was first and got Overstock to invest in them also. Now here comes Caricoin is a mobile wallet built for Bitcoin that you can take with you and use anywhere, anytime. This Caribbean Fintech Startup is based in UK with development team in Jamaica, has launched what it calls “the first “social mobile money platform” in the Caribbean.
The application and technology has been developed following a partnership with Californian Bitcoin security firm BitGo, an early developer of the multi-signature bitcoin wallet.
The app brings together elements of a social messaging platform infused with remittance via bitcoin. The app enables users to gain a bitcoin wallet immediately after downloading the application. A user will simply need to link his or her mobile number to the application without any KYC (know-your-customer) guidelines, thus enabling users to send or receive bitcoin in seconds.
The long-term goal, as Caricoin sees it, is to help enable financial inclusion for the unbanked and anyone across the Caribbean with a singular currency, with bitcoin being the obvious choice.
Zero-Cost Remittance, via Bitcoin
Notably, Caricoin is also working toward the development of a zero-cost remittance solution that would be included within the application. When activated, members of the Caribbean community working elsewhere can send money back home without having to incur a fee. Currently, it is estimated that remittance fees alone in the Caribbean region amount to over $800 million dollars, as revealed by a World Bank report [PDF].
Source: Press release + cryptocoinsnews
