BitMinutes Inc., a financial services technology company leveraging blockchain and pre-paid minutes tokenization to provide financial inclusion to the global consumer, announced today that it has partnered with Fundación Génesis Empresarial (www.genesisempresarial.org), the largest microfinance institution in Guatemala to significantly expand financial inclusion in Guatemala by offering highly affordable digital financial services.
Together, the two companies will form the Trusted Agent Network (TAN-LA), which will immediately provide Guatemalans with free remittances (or wire transfers) from the United States, as well as microloans in the near future. For more on the TAN-LA,
The partnership will also offer pre-paid phone time top ups using the BitMinutes token (BMT), which can be purchased and sent to any mobile phone, notably from a U.S. BMT wallet to any phone in Guatemala.
While BitMinutes brings its proven technology to the partnership, Fundación Génesis Empresarial (FGE) has Pronet, S.A. (AKISI) and its 50,000 locations in Guatemala. Customers of TAN-LA will ultimately be able to pick up their remittances at these locations.
Key to the partnership is the fact that the two companies have completed the integration of their respective platforms, making for a seamless transfer from the BitMinutes wallet to the Pronet, S.A. (AKISI)) wallet. The product roadmap also calls for the offering of microloans to Guatemalans, many of which are unbanked.
“Our mission with BitMinutes has always been to help the unbanked climb out of their economic circumstance and even create their own business and become an entrepreneur,” said Tom Meredith, the CEO and founder of BitMinutes. ‘We have already started fulfilling that mission in Nigeria, where we have a have a TAN that spans more than 1300 TAN agents, serving more than 7,000 Nigerians. We are on the verge of offering microloans there. In Guatemala, our partnership with FGE will accelerate our microloan program.”
FGE CEO said the timing of the service is perfect. “With this proven and reliable technology, we will be able to make a tremendous difference in the lives of millions of Guatemalans,” said FGE CEO.
