Remyt is a decentralized peer-to-peer application platform, which provides an ecosystem where users have one wallet that enables them to send funds across borders. Remyt will make the process of money transfer by a foreign worker to an individual in his or her home country simple and fast. Today the remittance market is worth over $500 billion, but it is still faced with derisking, high fees, insufficient transparency, Increase in settlement time, which threatens to make it more difficult for many to send and receive money.
Banks are responsible for major remittances in the world, but there are three dominant operators in the non-bank sector: Money Gram, RIA, and Western Union. They operate about 1.1 million retail locations in 200 countries. However, there are other players in the industry like Currencyfair, xe, world remit, transferwise etc. Remyt plans to decentralize remittance processes using blockchain technology by offering the cheapest fees, transparency and instant access.
Currently, the money transfer market costs more than $ 500 billion, but for the high profitability and popularity of this niche, there are still a number of problems present in the industry. Issues such as high commissions, lack of transparency, duration of operations, still put their shadow on the popularity of the platform for remittances.
Remyt is a decentralized peer-to-peer application platform that provides ecosystems where users have a wallet that allows them to send cross-border funds. Remyt will help make the process of transferring money from abroad to your relatives and friends very quickly and easily.
To date, there are 3 main companies that dominate the money transfer market: Money Gram, RIA, and Western Union. They employ approximately 1.1 million sales outlets in 200 countries. However, there are other players in the industry, such as: Currencyfair, Xe, Remitatsiya world, transmissions, etc. Remyt is aimed at decentralizing the remittance process using blockchain technology, offering the cheapest rates, transparency and instant access.
Remyt-the first remittance ecosystem with a cryptocurrency secured by physical gold
We create a safe remittance ecosystem which will ease the process of sending funds to your home country or any country.
In this way we create:
- A Remyt token backed by 0.01g of physical gold for a start, to secure your funds while you use our services
- An investment mechanism to enable you make additional income towards meeting your dream financial goal
- An ecosystem that enable Money Transfer Operators, Crypto currency traders/professionals to partner with Remyt.
Remyt Initial Coin Offering (ICO) :
Remyt will issue an ERC20 Remyt Token (XRT) for its ICO, which will be utilized as a medium of exchange in the Remyt Ecosystem.
Each Remyt Token is backed by 0.01g of physical Gold for a start, held in multiple secure storage facilities. At the end of every financial quarter, 20% of total profits will be used to procure more gold thereby increasing our gold reserve. Every half-year the gold reserve will be audited by a third party audits whose report will be made available to token holders.
- Name:Remyt Token
- Symbol: XRT
- Total supply: 5,500,000
- ICO: 5,000,000
- Affiliates & Bounty:200,000
- Remyt Team: 200,000 (Locked for 2 years)
- Decimal place: 18
- Start date:1st April, 2018
- Mode of Remyt Purchase-Bitcoin, Ether, Litecoin, EOS
- Starting Price:$1.0
- Time zone:GMT
Remyt Pre-ICO will be on 1st April, 2018. ICO will start on 8th April, 2018 and terminates on 7th May, 2018. During this period 5,000,000 Remyt Tokens will be sold in 5 rounds of 1 million each. Each round will last for 5 days with a schedule of 200,000 Remyt Tokens per day on first come first serve basis. The ICO price will be on an incremental basis of $0.2 per day of sales.
- After ICO : Token Distribution, Launch Crypto Investment program (CIP), Launch Internal exchange
- Q4 2018: Launch Escrow Platform
- Q2 2019: Launch Remyt Application Platform, Launch iOS/Android Application
- Q3 2019: Listing On External cryptocurrency exchange platform
- Q4 2019: Launch RemytPay for merchant and Remyt Debit Card
- Q2 2020: Expansion to capture 5% of global remittance market by end of 2022
Situs web: https://remyt.org/