REMCO

REMCO is a distributed token generation platform for remittance.

Whitepaper

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What is REMCO

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

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 Blockchain

Mint programmable Remittance Tokens with predetermined values at the request of money transmitters

Remittance Partners

Distribute these newly minted Remittance Tokens to senders, either online or via an agent in its network in real time, a reinvention of the process

Senders

Senders receive Tokens and use them to transfer money to their recipients, either to their bank account, mobile wallet or for pickup at at agent. The funds on the Token can be split among multiple recipients affordably.

Recipient

Money is received by recipient. The Remittance Token can also be customized to pay bills for utilities, taxes, school fees and rent.

Senders of money are about speed, cost and flexibility

REMCO runs on multichain, leading this space in speed and reliability

REMITTANCE COMPANIES

Tokens in any currency

Distribute their token to end users directly

Define the characteristics of their token

Token can be used to remit money to bank/mobile wallets globally

Tie their token to mobile wallet payout network globally

Distribute their token to their agents

AGENTS

Reduce the time spent with senders by 90%

Earn token activation commissions for less effort

Potentially also earn token usage fee commissions throughout the lifespan of the token

CONSUMERS

Use tokens to send money to bank accounts or mobile wallets or for cash pickup globally

Use tokens to send multiple transactions affordably

Send money at anytime of the day with assurance that the transaction will go through

No need to wait for agent or MTO confirmations. Money goes directly to recipients in real time