Hong Kong-based OKLink, a blockchain-based digital payments network specializing in international remittances, is now available in Vietnam, the twenty-first country it's reached since launching six months ago.
OKLink’s platform enables independent funds-transfer companies to send amounts up to US$10,000 to participating partners via a bank account, cash pickup or mobile wallet for a fee of 0.5% of the amount, the company said in a recent blog post.
Funds sent to Vietnam via ATM cards and the Vietnamese mobile wallet Vimo occur in real time; bank transfers require 30 minutes and cash transfers are available on the same day, according to OKLink. Payouts are available at 27 banks in Vietnam including VietinBank, Agribank and Vietcombank.
Remittances from Vietnamese nationals living overseas account for about 7% of the nation’s GDP, OKLink said on its blog.
OKLink, which has operations in key markets in Asia, Africa and The Americas, expanded to Canada late last year. It works with 24 Canadian banks including RBC, CIBC, Scotiabank, TD Bank and BMO.
Since its launch in August 2016 the startup has raised US$10 million in investments from Ceyuan Ventures, Mantra Capital and VenturesLab, among others.