BankeNu is a blockchain-based remittance platform, developed by Berlin-based entrepreneur Roham. The company aims "to enable displaced or financially underserved small business owners and freelancers to make secure and transparent money transfers." In order to bring the project to life, Roham relied on much support, research, and collaborations—notably with Techfugees (an open-source and open-data platform that responds to the needs of refugees).
WIth BankeNu, individuals can safely and efficiently transfer money from any place; they can also exchange crypto money into local currency. About the service, Roham shared with Techfugees: "There are millions of displaced people and refugees who make millions of remittances yearly. Many of them are doing it via informal ways or even illegal, and we at BankeNu are going to make it transparent and secure."
Last year, BankeNu was working on implementing transfer permissions from Germany to Iran and Lebanon.
Supportive Blockchain-Based Remittance Platform
BankeNu Aids Displaced & Underserved Communities
Trend Themes
1. Blockchain-based Remittance - The trend towards blockchain-based remittance platforms presents an opportunity to transform traditional remittance services with secure, transparent, and efficient money transfers.
2. Financial Inclusion - The trend towards enabling financially underserved individuals to make secure and transparent money transfers presents an opportunity to tap into a market segment that has previously been overlooked.
3. Crypto-to-fiat Exchange - The trend towards enabling individuals to exchange crypto money into local currency presents an opportunity to bridge the gap between traditional and digital currencies.
Industry Implications
1. Fintech - The FinTech industry can leverage blockchain-based remittance platforms to develop disruptive solutions for traditional remittance services.
2. Cryptocurrency - The cryptocurrency industry can benefit from the trend towards enabling individuals to exchange crypto money into local currency by offering secure and efficient exchanges.
3. International Aid - The international aid industry can leverage financial inclusion trends to provide secure and transparent money transfers to displaced and financially underserved individuals.