VTNGLOBAL INC, A fintech and money transfer company

VTNGLOBAL INC, A fintech and money transfer company, that is investing in REMCO – a tokenized money transfer platform for remittance organizations, has been granted regulatory approval to commence money transfer services in the States of Georgia, Illinois and Maryland to other jurisdictions where permitted.

VTNGLOBAL INC, A fintech and money transfer company, that is investing in REMCO – a tokenized money transfer platform for remittance organizations, has been granted regulatory approval to commence money transfer services in the States of Georgia, Illinois and Maryland to other jurisdictions where permitted.

This development is the latest in a string of successes for the company, which included an API for the Nigeria corridor, an elegant solution introduced in 2015, that saw onboarded partners shatter interbank settlement volumes within six months.

Peter Ojo, the Chief Executive Officer of VTNGLOBAL stated “A tokenized mechanism for remittances is imminent,” in reference to his company’s upcoming launch of REMCO Software, which incorporates distributed ledger (DLT) capabilities in tokenized transactions, minted on its platform by authorized partners.

Designed for licensed money transmitters, REMCO’s technology platform provides money transmitters, agents and customers a proven “out-of-the” box DLT solution and an ability to mint tokens. These tokens move value and have as attributes certain distributed ledger advantages associated with REMCOs Multichain implementation, including allowing speed and scale, while also offering innovative compensation to all transaction stakeholders.

Authorized partners will include VTNGLOBAL itself, with these new state money transmitter licenses. In an off-chain pilot VTNGLOBAL used many of the REMCO processes and found they were well-received, indeed much faster, especially for send-side stakeholders, and generally more affordable to users, especially in transfers involving multiple recipients.

REMCO has announced an ICO regarding these exciting new capabilities and in the meantime, VTNGLOBAL will continue and expand its pilot which it believes can move over a billion dollar a year. “The volume is there,” explained Ojo, “and the REMCO platform will add value all along the line.”

Contact:

VTNGLOBAL, INC.
8101 Sandy Spring Road, Suite 100B Laurel, MD 20707 USA
email: info@vtnglobal.com