Standard Chartered, bKash and Valyou launch Bangladesh’s first blockchain-based cross-border remittance service
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Standard Chartered Bank, in partnership with bKash of Bangladesh and Valyou of Malaysia, today announced the launch of the first blockchain-based cross-border remittance service in Bangladesh, facilitating instant transfers from Malaysia.
The service is powered by innovative blockchain technology from Ant Group.
Through this service, Bangladeshi expats in Malaysia can send wage remittance via Valyou to a beneficiary in Bangladesh who's a bKash wallet user, the bank said in a news release.
Standard Chartered Bank may be the fund settlement bank and regulatory approval holder for the service, that is a collaboration among Standard Chartered, Ant Group, bKash and Valyou.
The service is in the ultimate stages of commercial testing and you will be open to customers in Bangladesh and Malaysia soon.
Source: https://www.thedailystar.net
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