SBI Joint Venture to Expand Money Transfers Nepal to Arab Countries, COINCHECK adds XRP & FCT

Addition of Cryptocurrencies Available to Depositing and Purchasing on Coincheck (XRP and FCT)
https://file.swcms.net/file/monexgroup/en/news_release/auto_20181126440993/pdfFile.pdf

Background and Purpose of the Joint Venture
On the background of immigrant workers increasing in accordance with the globalization, international
money transfer market grows continuously and the market *1 hit a new record, USD 613 billion in 2017 (a
7% increase year over year).
Especially the number of immigrant workers from Asia to Arab nations*2 has increased about tri-fold
since 1990 and immigrant workers has come to reach 35.6%*3 of the workforce in the whole region of Arab
nations.
This environment, matches well with the two parties’ strategy to accelerate business growth by
globalization and gaining a foothold in the expanding Arab nations market with a huge labor market and
have agreed to establish a joint venture by joint investment and fusion of mutual strengths. The first task
will be to provide a money transfer service in the Arab nations.
SBI FinSol has a subsidiary, SBI Remit Co., Ltd (Head office: Minato-ku, Tokyo, Representative
Director: Nobuo Ando, hereinafter “SBI Remit”), a large level provider in Japan of international money
transfer services exceeding a cumulative international transfer amount of JPY 500 billion since its
establishment.Crypto space, emphasizing partnerships, regulations and developments with unique attention to Japan and Asia.
https://www.sbi-finsol.co.jp/kr/irpr/en_irnews_pdf/press_181122_en.pdf

Post Author: CoinCryptoNews