Bitcoin service targets Kenya remittances with Cut-Rate fees

by | November 28, 2013 4:23 pm

BitPesa Ltd., a Kenyan start-up, will take on remittance providers like Western Union Co. (WU) by using the Bitcoin virtual currency to cut transaction costs for Kenyans working abroad who send home $1.2 billion a year. The online service plans to start on a trial basis by March, after obtaining regulatory approval, and gain 1…

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