OKCoin launches blockchain remittance project OKLink in India

September 21, 2016, Delhi, India - Coinsecure, an Indian Bitcoin company, announced a partnership with OKLink to provide blockchain technology support for Indian remittance services. OKLink is a new product launched by OKCoin that provides digital assets and blockchain global transaction settlement system services. India is the world's largest recipient of remittances, and this cooperation between the two parties is a major milestone for Bitcoin and blockchain technology.

Coinsecure co-founder and CTO Benson Samuel and OKLink chief strategy officer Chengqi Liu announced their partnership at the recent International Multimedia Communications Association Asia Conference in Delhi, India. During the conference, the prospect of blockchain remittances was described in a session titled “Pioneering Remittance Opportunities and Challenges for Innovators.”

The teams at Coinsecure and OKCoin’s new business site OKLink agree that blockchain has the potential to transform international remittances. Both emerging major leaders in the bitcoin exchange space believe that blockchain technology can accelerate the reduction of the cost of daily remittances.

Benson said:

"We at Coinsecure not only recognize that Bitcoin is an important application form of blockchain, but also recognize that Bitcoin can help alleviate global transaction difficulties and improve remittance efficiency. Coinsecure is very excited to work with OKLink to provide faster and more cost-effective services to the people of India."

Since the inception of Bitcoin, the financial and remittance industries have been paying close attention to the blockchain, the underlying blockchain that is the public ledger of Bitcoin transactions and provides an open-source global platform for payment and remittance companies.

Speaking about the new partnership, Coinsecure co-founder and CEO Mohit Kalal said:

“We will conduct remittances on the OKLink network built by OKCoin. Indian citizens can send and receive remittances using Bitcoin or rupees around the world, whether they are in China, Hong Kong, South Korea, Canada, the Philippines or other countries and regions.”

Liu Chengqi, Chief Strategy Officer of OKLink, said,

Coinsecure is India’s leading blockchain company. Their commitment is our driving force. We are all confident in the future application of blockchain and we will work together to improve the remittance experience of the Indian people.

The new service for Indian citizens will be available soon on Coinsecure’s website, with a mobile app to follow shortly. Based on blockchain technology, Coinsecure will offer an industry-low fee of 0.5%, significantly lower than the traditional 3% to 5% fee.