Danish payment services provider Coinify is teaming up with Hong Kong based payment services provider Payssion in a partnership that hopes to develop alternative payment methods such as Bitcoin and blockchain currencies.
Coinify has been gradually expanding into Asia, after closing deals with companies such as Hello-markets, a financial brokerage firm, and Digix, a company offering gold backed digital assets.
"The new partnership means another building block in Coinify’s growing presence in South East Asia" said Morten Bebe, the sales manager at Coinify. "There are plenty of opportunities for bitcoin to grow month by month."
Crypto currencies are a steadily growing market in Asia and have great potential to act as disruptors there. However, bitcoin adoption has been slowed by a lack of integration in the Asian market.
Dong Liu, CEO and founder of Payssion, is confident of the potential for crypto currency growth. "Crypto currencies make us rethink the concept of money and our current financial system" said Liu. "We can see more companies and start-ups using bitcoin or blockchain to change this for the better."
The major sources of growth for Bitcoin lie in money remittances, as 10% of global international remittance comes from South East Asia, and in reaching the unbanked, as the majority of the population in these countries lack access to banking services.