Emerging Markets
Cointext has launched internet-free mobile BCH wallet services to users in Bangladesh. The announcement comes following the recent rollout of Cointext’s services in many new regions, bringing the total number of countries now able to access the company’s services to 38.
Also Read: How to Spend and Give Bitcoin Cash Over the Holidays
Cointext Launches BCH Services in Bangladesh
Cointext, a BCH wallet provider that enables users to conduct bitcoin cash transfers without internet through text message, has announced the launch of its services for Bangladeshi citizens.
A press release published by Cointext cites GSMA’s findings that Bangladesh had only 21 percent mobile phone penetration and a meager smartphone penetration of just 5.4 percent at the of end 2017. According to GSMA, Bangladeshi mobile phone adoption is expected to roughly double by 2025.
Cointext founder and chief technology officer Vin Armani described Bangladesh as comprising “the ideal country” for his company, stating: “Very few people have smartphones or cellular data in Bangladesh. Cointext enables basic feature phones to access international currencies like bitcoin using SMS.”
Following the introduction of services to consumers in Ukraine, Italy, Colombia, and the Dominican Republic earlier this month, Cointext now services 38 nations, including those located in Latin America, Europe, Oceana, Asia, and North America.
Crypto and DLT Gradually See Greater Adoption Throughout Bangladesh
Since reports emerged in 2014 asserting that Bangladesh had prohibited the use of bitcoin, Bangladesh appears to have softened its stance regarding cryptocurrency, with the country’s central bank issuing a “Cautionary Notice” during December 2017.
Earlier this month, the United Nations International Children’s Emergency Fund (UNICEF) announced that Bangladeshi start-up W3 Engineers will be among the first distributed ledger technology (DLT) companies based in emerging markets to receive investment from its Innovation Fund.
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