Hong Kong-based Bitspark Limited announced in a press release it sent to CoinReport that it has received funding from RGAx, the innovation accelerator of Reinsurance Group of America, Incorporated, one of the world’s largest life reinsurance organizations headquartered in St. Louis, Missouri, United States.
RGAx teams up with and finances alongside innovative firms building solutions to the greatest problems in the insurance and fintech industries. The ground-breaking money exchange technology and placement of Bitspark in the blockchain industry carries a unique viewpoint on cash-based remittance transactions the world over. The two firms will be working together to advance their shared aspirations of delivering financial protection to conventionally underserved peoples.
Bitspark CEO George Harrap said in the press release we received, “We are excited to be working with excellent partners in RGAx. Their presence, in the U.S., Asia Pacific region, and beyond, gives RGAx the global scope and expertise to accelerate Bitspark to the next level.”
RGAx CEO Dennis Barnes commented, “At RGAx we are actively partnering with our existing clients and new innovators, such as Bitspark, to create business opportunities that improve consumer access to financial services.
“We believe Bitspark’s technology could help reduce friction for the millions of people who use remittance to support their families and friends abroad.”
The firms are not revealing other terms of the investment, including the amount.
Images are courtesy of Bitspark for a previous piece