Mission
Remyt - the first remittance ecosystem with a cryptocurrency secured by physical gold
We create a safe remittance ecosystem which will ease the process of sending funds to your home country or any country.
In this way we create:
1. A Remyt token backed by 0.01g of physical gold for a start, to secure your funds while you use our services
2. An investment mechanism to enable you to make additional income towards meeting your dream financial goal
3. An ecosystem that enables Money Transfer Operators, Cryptocurrency traders/professionals to partner with Remyt.
What is Remyt?
Remyt is a decentralized peer-to-peer application platform, which provides an ecosystem where users have one wallet that enables them to send funds across borders. Remyt will make the process of money transfer by a foreign worker to an individual in his or her home country simple and fast. Today the remittance market is worth over $500 billion, but it is still faced with derisking, high fees, insufficient transparency, Increase in settlement time, which threatens to make it more difficult for many to send and receive money.
Banks are responsible for major remittances in the world, but there are three dominant operators in the non-bank sector: Money Gram, Ria, and Western Union. They operate about 1.1 million retail locations in 200 countries. However, there are other players in the industry like Currencyfair, xe, world remit, transferwise etc. Remyt plans to decentralize remittance processes using blockchain technology by offering the cheapest fees, transparency and instant access.
Token Specification
Remyt will issue an ERC20 Remyt Token (XRT) for its ICO, which will be utilized as a medium of exchange in the Remyt Ecosystem.
Gold Backing
Each Remyt Token is backed by 0.01g of physical Gold for a start, held in multiple secure storage facilities. At the end of every financial quarter, 20% of total profits will be used to procure more gold thereby increasing our gold reserve. Every half-year the gold reserve will be audited by a third party audit whose report will be made available to token holders.
Funds Allocation
Remyt Application Platform
This is the platform on which Remyt tokens are used as a medium of exchange for funds transfer.
Model:
1 Select an agent in your country of origin/location
2 Enter amounts and destination country.
3 See Fees
4 Enter Recipient details
5 See a summary of the transaction
6 Pay to the agent in your country of origin/location
7 You can cancel for a full refund within 30 minutes of payment unless the funds have been picked up or deposited
8 You and the recipient will get an SMS and email when the money is sent and received (usually the recipient receives the funds within 30 minutes to an hour)
Investment Opportunity in Remyt
1. Earn daily from our Crypto Investment Program (CIP): Interest is paid daily to investors. (Terms & Conditions apply)
2. Earn commission in our Remyt Partnership Program (Terms and conditions apply)
3. Affiliate: Earn bonuses when you participate in our ICO, bounty or invite others to join via your referral link. (Terms and conditions apply)
4. Trade: Earn profit from trading Remyt Token
PRE-ICO LAUNCHES ON THE 1ST OF APRIL 2018
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