Today, I’m extremely proud to announce the launch of Bitreserve Connect, the home for our API, developer community and app directory, that makes it quick and easy for partners to integrate Bitreserve functionality into their financial services apps.
With Bitreserve Connect, we’re focused on empowering businesses to create and deliver state-of-the-art financial services apps to deserving consumers across the globe. These reimagined apps take advantage of the many benefits within our truly frictionless cloud money platform:
- Hold, send and convert money instantly — and for free — to anyone, anywhere, dramatically improving a business’ bottom line;
- Accelerate development and go-to-market for new ventures;
- Conduct completely transparent transactions, where all money held, sent and converted can be traced in real-time;
- Fulfill multi-currency transactions for free, and multi-commodity transactions instantly;
- Secure and protect customer deposits with one-to-one reserve backing;
- Incorporate Bitreserve’s best-in-class Anti Money Laundering (AML) and Know Your Customer (KYC) security and information infrastructure to ensure businesses meet regulatory requirements. This enables developers to focus on their core product, not the expensive and time consuming task of building a financial services backbone.
Three of our outstanding partners are joining us in this initial rollout. They each serve the needs of consumers that, until today, have been limited by the legacy system’s constraints.
- LibertyX: Provides safe money storage for the unbanked and underbanked. Through LibertyX, individuals, like migrant workers, who receive cash for their work can easily convert their cash and paychecks directly into bitcoin. Using Bitreserve Connect, users are now able to immediately hold that bitcoin in any of the eight stable currencies and four precious metals Bitreserve offers to avoid exposure to bitcoin volatility. They can hold their savings for safe keeping in the cloud, or send money to parts of Mexico where recipients can pick up this cash from an ATM instantly and for free.
- Bitwage: Enables international workers and businesses to get paid faster and to avoid expensive commissions from banks and money transfer services. Using Bitreserve Connect, Bitwage users can receive their bitcoins as the stable currency of their choice for free, avoid exposure to bitcoin volatility, and safely store their hard earned wages in the cloud.
- Easy.Money: Allows anyone to now create their own personalized gift certificates in any amount and currency of their choice. Give the gift of money to anyone anywhere in the world, instantly by sending them an email or a paper printout. The recipient can open a free Bitreserve account to redeem their gift in order to hold, send, spend or convert it to other currencies for free.
“Sending money across borders is a nightmare. Paying employees in different countries means fees for the employer and the employee, plus it adds uncertainty of when wire transfers will actually come through based on differing banking systems around the world,” said Jonathan Chester, COO of Bitwage. “Our integration with Bitreserve Connect is going to fundamentally change the game for people that don’t have access to basic banking systems, or are getting penalized in fees. Bitwage can now serve employees and contractors in countries that are hard or near impossible to reach. Plus, we’ve added transparency, massive cost and time savings for both our employer and employee network around the world, and can now pay anyone in the world in one fell swoop. It’s an incredibly powerful thing and will change a lot of our customers’ lives for the better.”
Through a platform like Bitreserve Connect, this is the first time significant innovation around money in the cloud can scale to businesses — to drive some of the most fundamental and influential ways money is able to move between people.