Press Release

Everex to introduce blockchain-powered 
cross border service between Myanmar and Thailand

This has been hailed as a milestone for financial inclusion

Chiang Rai. 4th April 2019. The Central bank governors of Thailand and Myanmar have endorsed the Krungthai and Shwe Bank emittance project powered by Everex.

“Both countries share a common culture and traditions. Transactions will be faster and more secure,” says U Kyaw Kyaw Maung, Myanmar Central bank governor.

“There are many real life use cases of how innovative technology like blockchain can be used to meet the needs of customers. This project is an important step forward for the more than three million workers in Thailand who might have so far used unsecure channels,” adds Veerathai Santiprabhob, the Central bank governor of Thailand.

“The main objective for Myanmar migrant workers is to send money home to their families. However, on the Myanmar side banks have limited opening hours. With the Everex platform we can overcome the challenges and provide better banking services,” comments U Thein Zaw, Executive Vice Chairman of Shwe Bank

Alexi Lane, CEO and Founder of Everex, says: “It is our great pleasure to join this project for financial inclusion. For the last few years we have 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.” 

Everex has received a letter of approval from the Bank of Thailand to launch this project. Currently, it is conducting focus groups and is working on a pilot with the banks and Myanmar communities in Thailand to implement the service. Interested parties, Myanmar people and employers of Myanmar migrant workers can 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 programme.

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