Hong Kong-based remittance platform Bitspark has announced that it has received investment as part of a partnership with Reinsurance Group of America, Inc (RGAx). RGAx is one of the world’s largest life reinsurance companies, and is on the Fortune 500 list. The two companies will work to provide insurance services underserved markets.
Reinsurance Group of America Has Provided Investment to Bitspark as Part of a Partnership Between the Companies.
It has been revealed that RGAx has provided investment to Bitspark as part of a partnership between the two companies. The specific terms of the agreement between the companies and the sum of money supplied have not been disclosed. Both companies have emphasized their desire to use blockchain technology to provide remittance services to emerging markets, including cash-based remittance services.
Ceo of RGAx, Dennis Barnes, stated “at RGAx we are actively partnering with our existing clients and new innovators, such as Bitspark, to create business opportunities that improve consumer access to financial services. We believe Bitspark’s technology could help reduce friction for the millions of people who use remittance to support their families and friends abroad.” Bitspark’s CEO, George Harrap, has welcomed the collaboration, stating “we are excited to be working with excellent partners in RGAx. Their presence, in the U.S., Asia Pacific region, and beyond, gives RGAx the global scope and expertise to accelerate Bitspark to the next level.”
Bitspark and RGAx Have Stated That They Seek to Foster Innovation Within the Cash Remittance Payments and Insurance Industries
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