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REMCO Launches a Highly Anticipated ICO for Its Tokenized Money Transfer Platform

Parent Company Processed $700,000,000 in the Last 24 Months

LAUREL, Md., Nov. 30, 2018 /PRNewswire/ -- REMCO SOFTWARE is about to launch its ICO and the ICO industry websites that rate ICOs all give REMCO high marks.

REMCO offers a tokenized money transfer platform allowing licensed money transmitters the ability to mint and distribute their tokens, which are designed to reward all transaction stakeholders. These tokens can contain a stated digital cash value and can provide all FIU/AML transaction monitoring. An MVP of this platform now exists (see www.remittancetoken.io and www.remcosoftware.org), and the purpose of the ICO is to fund a full launch.

On the cash-in side, a deep understanding of consumer behaviors in this industry-led REMCO to incorporate a prepaid card, offered by its parent, VTNGLOBAL.

  • The solution cuts storefront agents' time by 90 percent, reduces merchant credit card processing fees, curbs fraud and significantly reduces cost.
  • The prepaid card solution is also appealing to mobile agents, such as ethnic stores, gas stations, and convenience stores.
  • All estimates of global remittances, now at over $600 billion annually, must be doubled to consider informal channels and the REMCO solution encourages formalization. These prepaid cards will attract some who would normally travel with another's cash to deliver informally.

An off-chain version of the REMCO token is on a solid run rate in its limited introduction, and the solution is both jurisdiction-agnostic and flow-agnostic. Any money transmitter can use it.

Initial traffic to the platform will come from REMCO's corporate parent VTNGLOBAL which holds state money transmitter licenses in the USA and be delivered by VTNETWORK, another sister company with central bank licenses in a country of 180 million.

REMCO's solution is cost-effective, a magnitude faster at retail, and has the operational benefits of increased transparency, increased record security, and improved accuracy. COO Joel Patenaude said, "We will flip the switch and move existing transaction traffic to REMCO tokens soon."

REMCO recently added three new advisers to their team:

  • Ty McCoy, United States Assistant Secretary of the U.S. Air Force under President Reagan, Early Investor
  • Brent Segal Ph.D. Harvard (200+ patents), Adviser
  • Moses Asom, Ph.D. (MBA Wharton) (Exited tech company for $140m, several patents), Adviser

REMCO is led by CEO/CTO Peter Ojo who pioneered mobile wallet remittance terminations with Western Union and created an API that allows many USA remittance businesses to terminate funds into bank accounts and mobile wallets.

The REMCO ICO Crowdsale is scheduled to start on Dec. 1, 2018 and may end at any time.

You can participate in the REMCO token sale at:

https://www.remittancetoken.io

Media Contact:
Joel Patenaude
Email: joel@remittancetoken.io

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