Kenya’s BitPesa acquires TransferZero, European online money transfer service

BitPesa, the blockchain payments platform launched in Nairobi in 2013 has announced their acquisition of TransferZero, an international, online money transfer platform that specializes in sending money to consumers and companies in 200 countries using over 50 different currencies.

TransferZero is the first FinTech company licensed by the Bank of Spain as an authorized payment institution and was founded in May 2016.

“Europe is a hub for global remittance and payments companies,” said Elizabeth Rossiello, founder and CEO of BitPesa. “Digital currencies and decentralized technology have hit critical mass in the financial services and payments space. It is no longer a question of whether this technology will have staying power—rather, which specific technology and what product iteration will launch and scale first. This past year was groundbreaking for digital payments and blockchain, as we saw Japan and Korea, two major Asian economies, come out with clear regulation that supported a booming sector. The UK, Europe, and Switzerland also solidified their position in support of payment companies using this technology,” added Rossiello.

TransferZero has network integrations on four continents, and a team with decades of experience working with enterprise clients in need of global payment solutions. They are the only remittance company that does not charge a fee, aside from a small percentage in the FX.

Under the acquisition, TransferZero will continue to operate under the same brand name and all of its employees will stay with BitPesa. The headquarter will remain in Madrid.

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