The global remittance industry is ready for disruption. In most cases recipients lose up to 20 percent of the transferred funds through commission to the remittance company. CEO Kumar Gaurav decided to address this issue with his blockchain tech-powered peer-to-peer solution known as Cashaa.
Cashaa has no service fees and no exchange rate fees. At the time of Kumar‘s presentation at Bitcoin Wednesday on 7 September 2016, the service had already benefitted more than 7000 traders who exchanged almost $1 million during the 3-month test phase of the company.