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Blockchain-based International Remittance Project REMIIT Partners With HYCON

REMIIT Signs Partnership With HYCON to Expand International Remittance Ecosystem

SEOUL, SOUTH KOREA, November 21, 2018 / -- Blockchain-based international remittance project REMIIT announced on November 20th that it has signed a partnership with Glosfer/HYCON to collaborate on blockchain projects and international remittance services.

Under the agreement, REMIIT and Glosfer/HYCON will work toward mutual development utilizing the infrastructure of HYCON, a blockchain platform with its own mainnet. The two will also collaborate on establishing an international remittance service within the HYCON ecosystem.

REMIIT is a blockchain-based, decentralized remittance and payment platform. BluepanNet, the mother company of REMIIT that provides inexpensive and safe international remittance and trading service, launched the international cryptocurrency remittance service after its establishment in April 2015. Starting with the Philippines, service soon became available in six countries including China, Vietnam, Australia and Hong Kong. With a retention rate of 90%, REMIIT reduced time and cost for foreign workers transferring money to their home country.

REMIIT’s token economy is designed with REMI and REMD supplying consistent liquidity, which enhances stability and security of trading. REMI is listed on exchanges and therefore freely traded, while REMD tokens are provided to market participants as an incentive. Those who wish to use REMD for international remittance must first obtain REMI and stake it and then convert the tokens to REMD. To facilitate smooth exchange, an incentive is provided proportional to the amount of REMI being staked and the staking period.

CEO Taewon Kim of Glosfer/HYCON said, “With the partnership with REMIIT, a leader in blockchain-based international remittance service, the HYCON ecosystem will be able to expand to finance and international remittance services.”
Kim, an advisor to REMIIT, launched Korea’s first international cryptocurrency remittance service and developed it into a first-generation blockchain company in Korea.

HYCON, which recently succeeded in doubling the network’s transactional throughput capacity, and BluepanNet/REMIIT, leader of international cryptocurrency remittance service in Korea, are expected to create an unconventional ecosystem for a blockchain-based remittance and trading platform.

Glosfer/HYCON is planning the grand opening of the HYCON Adventure Platform in December. The HYCON Adventure Platform aims at creating a hub for HYCON where HYCON holders can participate in ICOs, airdrop events, markets, games and other events using HYCON in return for various benefits.

Holders will be charged a fee of 0.5%-3% in HYCON when they participate in the HYCON Adventure Platform. All coins used to participate in the events except for the fees are returned to the holders and they can also receive other cryptocurrency airdrops. Glosfer/HYCON aims to expand HYCON’s ecosystem with the Adventure Platform and the international remittance service.

Glosfer Inc
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