Bitspark will be joining United Nations Development Program on a mission in Tajikistan to collaborate on facilitating bitcoin remittances to the country whose GDP is 50% reliant on remittances mostly from Russia.
The aim of this visit is to assess the potential for fiat remittances to be sent via bitcoin internationally and domestically using Bitspark’s Web platform and mobile App. The company intends to reduce existing costs of remittances for migrants who send money to their families residing in CIS countries and meeting, educating and training stakeholders of the advantages of Bitspark’s system in contrast to traditional money transfer infrastructures.
With this in mind, the joint participants are keen to understand better the pain points that Russian and Tajikistan MTOs experience as sending and receiving ends of the ecosystem, and how together barrier to entry can be reduced for businesses to participate in the bitcoin remittance space for better customer satisfaction in financial savings, sending reach and digital integration.
"New statistics show migrant labor remittances are now equivalent to over half Tajikistan's GDP..." - eurasianet.org / David Trilling @dtrilling
This will also be an opportunity for Bitspark to announce its joining of UNDP’s fintech initiative, AltFinLab, an internal startup of the UNDP whose goal is to study alternative finance technologies and mechanisms to reach Sustainable Development Goals for European and CIS countries. Another notable bitcoin company who has joined AltFinLab’s initiative is Blockchain.com.
Bitspark strongly believes in making bitcoin remittances accessible globally to catalyse financial freedom in the digital age. By bringing bitcoin remittances to a country such as Tajikistan, is one of many steps Bitspark has taken in the journey and is even more encouraged by the participation of UNDP and AltFinLab.
Our awesome team will be keeping followers up to date on this venture, sharing insights of Tajikistan's remittance landscape. Join us on this mission!