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Spark signs 3 mto chains for pilot

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BitsparkLtd:
Here is a snippet from our latest blog on what an Money Transfer Operator or MTO for short is ;

What are money transfer operators? Money transfer operators are businesses that support overseas cash transfers by accepting cash from a sender and dispersing cash to the designated receiver.


Spark provides a cash in, cash out remittance platform for them that uses crypto for transactions. It's bankless with better rates and has traditional cash out locations like Pawnshops, convenient stores, bank accounts and ATMs which end users prefer. We launched a mobile app called Sendy too for our complete strategy.

 

xeroc:

--- Quote ---Spark accepts cash from MTOs to buy bitcoin for MTO balances.

--- End quote ---
Could you elaborate? What's an MTO?

BitsparkLtd:

--- Quote from: xeroc on May 14, 2018, 03:25:49 pm ---Cool.
If they throw an extra 300k tps in total every day, we will see quite some traffic on chain.

Can you elaborate on *what* they actually transfer? They do need a token of some sort.
What kind of information can you give us on the banking side of this.. Can you name those money transfer operators publicly?

--- End quote ---

Exactly. When Spark's full system is up and running we will be seeing a lot more volume on the chain. Currencies being used are HKD, IDR, PHP, EUR & USD, we are cash in and cash out so on tokens are involved except when users transact and are rewarded our ZEPH. As for the banking side, there is none. Spark accepts cash from MTOs to buy bitcoin for MTO balances. Balances are then pegged for their remittances from end users. As for the MTOs we will be making a report of the pilots public after the period of testing. More updates will be available here https://t.me/joinchat/BQS59kQMk8Zkscos9idsgg 

We also just launched a closed beta test for our App-> https://steemit.com/bitshares/@bitspark/sendy-closed-beta-available-now

xeroc:
Cool.
If they throw an extra 300k tps in total every day, we will see quite some traffic on chain.

Can you elaborate on *what* they actually transfer? They do need a token of some sort.
What kind of information can you give us on the banking side of this.. Can you name those money transfer operators publicly?

BitsparkLtd:
Spark recently completed the RemTech International Money Conference hosted in Malaysia. Largest update from event is 3 money transfer operators have signed on to pilot Spark's cash in, cash out crypto remittance platform. The pilot will consist of 100k daily txn per provider with eventual ramping up. More updates on @BitsparkLtd on twitter and $ZEPH telegram https://t.co/NJHzXktXYu

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