KTB, Shwebank and Everex receive BOT (Bank of Thailand) approval on ASEAN event to start the International Remittance Project
04 April 2019, Chiang Rai. The Central bank governors of Thailand and Myanmar endorsed today the “Krungthai and Shwe Remittance“ project powered by Everex. Both governors highlighted that the payment connectivity between Thailand and Myanmar is a milestone for financial inclusion. “Both countries share a common culture and traditions. Those bring countries and people together the same way as Krungthai and Shwe bank cross border remittance money transfer service. Transactions will be faster and more secure.” U Kyaw Kyaw Maung, Myanmar Central bank governor mentioned. “The ASEAN event showed many real life use cases of innovative technology like how blockchain can be used to meet the needs of customers. This project is an important step forward for the more than 3 million workers in Thailand who might have so far used not secure channels,” said Veerathai Santiprabhob, the Central bank governor of Thailand. Congratulations to initiate this important project!”
“Main objective for Myanmar migrant workers is to send money home to their families. However, on Myanmar side banks have limited opening hours. With the Everex platform we can overcome the challenges and provide better banking services.” U Thein Zaw, the Executive Vice Chairman of Shwe bank said.
Alexi Lane, the CEO and Founder of Everex summarized, “It is our great pleasure to join this project of financial inclusion. For the last few years Everex has been diligently working on developing blockchain powered solutions and cross border transfers. Now we are very happy that our product will be a part of the joint venture to bring workers and people access to financial services for a better life and a better future.”
With the event Everex received the letter of approval from the Bank of Thailand to launch this project as requested by Krungthai bank, Shwe bank and Everex. Currently, Everex is conducting focus-groups and is working on a pilot with both banks and Myanmar communities in Thailand to implement the service. Interested parties, Myanmar people and employer of Myanmar migrant workers are welcome to find more information at: https://www.facebook.com/everex.io/ or apply for a wallet at www.everex.cash.
Everex is also looking for future bank partners in the US, Taiwan, Malaysia, Singapore, China and Europe to expand this program of creating an innovative financial inclusion.
Everex is a FinTech company providing blockchain powered solutions: https://www.everex.io/
Shwe Bank is a fast growing challenger bank in Myanmar: https://shwebank.com/
Krungthai Bank is a state-owned and one of the largest banks in Thailand: https://www.ktb.co.th/en
