The world’s technological leader KRONN Ventures AG, based in Zug, Switzerland, announced that it entered into an agreement with Bitforex, a global digital currency exchange based in Singapore, to build a real-time foreign currency remittance system incorporating the blockchain technology.
Bitforex, a global digital currency exchange, has recently outperformed the leading exchanges such as Binance, BitMex, and Bithumb in coin market cap transaction volumes and been thrust into limelight for taking top spot in terms of the transaction volumes. As a global exchange where about 120 types of digital currencies are being traded, Bitforex has attracted users in about 90 countries around the globe.
Headquartered in Singapore, Bitforex has opened branches in Seychelles Archipelago, Germany, Estonia, Hong Kong, Malaysia, Philippines, etc., and is proceeding vigorously with efforts to strengthen its global marketing.
Furthermore, Bitforex is teaming up with leading Chinese developers from Tencent and Lenovo and engineers from multinational companies, including Merrill Lynch, World Bank, Microsoft, McKinsey, which allowed the company to be injected with the funds worth in excess of USD 20 million from world-famous Crypto Capital at the initial stage of its foundation and to climb to a fast growth path with aggressive marketing efforts.
Alex Wong, the CEO of Bitforex, remarked that the recent technical and cooperation agreement with Switzerland-based KRONN Ventures AG, which aimed to build a real-time foreign currency remittance system applying the blockchain technology, would allow Bitforex to build a foreign currency remittance system enabling overseas remittances to be made in almost real-time for the first time among global digital currency exchanges.
Anticipation had already been mounting in the industry over whether a futuristic digital currency exchange, featuring new functions and services, will be unveiled as a result of the technical and cooperation agreement signed recently between Bitforex, global digital currency exchange, and Switzerland-based KRONN Venture which has developed a new foreign currency remittance system capable of replacing current SWIFT system which it claims has survived beyond the period of its usefulness (SWIFT system was developed in 1970s and has dominated overseas remittance segment in banking industry to date).
The new foreign currency remittance system, to be built under the technical and cooperation agreement between the two global companies, would serve as a new engine of growth that brings greater convenience and safety to consumers based on even more advanced blockchain technology beyond pitfalls of reckless external expansion involving the transaction of unproven digital currencies and impervious to security breaches caused by hacking attacks, etc., unlike other digital currency exchanges.