French investment bank AXA eyes Bitcoin remittance market

     Multinational investment bank AXA is interested in bitcoin’s potential to simplify the remittance market, a venture capital fund partner told CoinDesk.

Minh Q Tran said that the French group AXA views digital currencies as an “investment thesis” through AXA’s investment strategy.

     “We believe there are many relevant uses for Bitcoin that have yet to be explored,” he said. “We are very interested in how Bitcoin and cryptocurrencies in general can be used in the remittance market.”

     Although, so far no Bitcoin or blockchain startup has received investment from AXA.

     In addition to using Bitcoin in the remittance market, AXA is also a leading insurance brand that is exploring how to use blockchain technology in areas such as real estate, wealth management, intellectual property and insurance.

     While banking remains a risk-averse industry, many big-name companies are now exploring the potential of blockchain technology through their efforts.

     Spain’s Bankinter became the first bank to invest in a bitcoin company. Coinffeine, which also received a secret investment from the Innovation Fund last November, has also followed suit. Companies including BBVA have since followed suit.