Distributed ledger technology (DLT)
DLT is a decentralized database managed by multiple participants, across multiple nodes. Blockchain is a type of DLT where transactions are recorded with an immutable cryptographic signature called a hash.
RemittanceToken is an example of a DLT. It’s a database system for recording the transaction of assets in which the transactions and their details are recorded in multiple places at the same time. Unlike traditional databases, distributed ledgers have no central data store or administration functionality
A TOKENIZED,MONEY TRANSFER PLATFORM WITH UNPARALLED SPEED
Designed for licensed money transmitters and Central banks Digital currency
REMCO’s technology platform provides money transmitters, financial institutions agents and customers a proven “out-of-the” box ledger solution to move money at the speed of thought.
Per the pilot conducted by VTNGLOBAL in the States of Georgia and Illinois in comparison to the traditional way of sending money, test reveals that the REMCO process is ten times faster and more affordable.
API coverage:
Over 15,000 banks in
124 countries!
The Problem
The cross-border international money transfer business is broken.
INTERNATIONAL MONEY TRANSFER IS FLAWED
- Lack consistent standards and regulations
- Costs vary significantly
- Poorly kept transaction records, if at all
Current Remittance Process
Opportunity
Remittances to low- and middle-income countries reached $597 billion by 2021
Solution
REMCO Tokens allow any licensed money transmitter to mint programmable Tokens. These tokens move value and leverage distributed ledger advantages at speed and scale, while also offering innovative compensation to all transaction stakeholders. REMCO’s parent will immediately be the first user, therefore REMCO has a substantial, built-in customer
REMCO
Senders of money are about speed, cost and flexibility
REMCO runs on multichain, leading this space in speed and reliability
Business Model
1% FX margins on Transfers plus $3.99
Provide money transmitters and crypto companies liquidity and access to transfer funds to 124 countries on Remcos multi currency stable Token
Token Value apprecaition on Exchange
Remco cryptocurrency appreciation in value on exchanges
SCALABILITY GOALS/ KPI’s
Competitive advantage
Remittance-related blockchain projects face significant barriers to entry due to multi-jurisdictional regulations. REMCO enjoys its parent company’s (VTNGLOBAL) position in the market with multi jurisdictional licenses, access to 124 countries, 15,000 banks and 6.0 million subscribers and global reach from day one
SECURITY AND FEATURES
SECURITY:
REMCO Tokens are generated and recorded on blockchain. This adds security, compared to the random number-generated and stored on relational databases.
SCALABLE
REMCO uses blockchain, where transactions self-verify and provide the speed required to scale.
DECENTRALIZED
REMCO runs on a distributed ledger technology known as a Multichain blockchain
LOWER COSTS
Our solution does not involve miners to verify transactions, and be paid. Even micropayments can be made affordably
RE-ENGINEERED PROCESS AT CASH AGENTS
The REMCO Prepaid solution requires less time to sell than present methods, offers bonus commissions and gives tremendous control and value to the customer. Data analytics allow aggregation from multiple networks
Contact us
Remco Software, Inc.
8101 Sandy Spring Road, suite, 100b, Laurel, MD 20707, USA
email: info@remittancetoken.io
URL: https://www.remittancetoken.io
The Network: https://remcosoftware.org