Bitspark Just Picked Up A Key Backer
As the Cryptocurrency industry expands and adoption increases globally, many of the companies that laid the groundwork for said expansion are going to pick up increased attention from traditional finance entities. Whether this involves mergers or buyouts, or simply stake taking, doesn't really matter, what does matter is that crucial dictating a financial interest in the Blockchain space implies long-term linear growth.
The latest example of this just hit press.
Bitspark , the well-known and well established Hong Kong-based remittance platform, just announced that it has picked up on investment from Reinsurance Group of America Inc (NYSE:RGA).
For those not familiar with RGA, the company is one of the largest reinsurance companies in the world, headquartered in Missouri price and valued at current market price in and around $10 billion.
According to the report put out today by Bitspark, available here , the latter has received funding from RGA and, outside of the funding, the two companies will be collaborating to further their mutual ambitions of providing financial protection to traditionally underserved populations.
Here's what George Harrap CEO of Bitspark said about the development:
“I 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.”
And this is what Dennis Barnes, CEO of RGA said:
“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.”
As yet, the terms of the investment have not been disclosed but chances are we will get more detail during the coming weeks as the collaboration matures to realization.
Author : Jack Dean