- Employees: 50
- Year founded: 2013
Bitt is a Financial Technology company that utilises distributed ledger technology to improve speed, efficiency and significantly reduce the costs of the payment system.
The Bitt Wallet is the sole consumer access point to the entire Bitt ecosystem. It allows users to send and receive money globally, and process transactions from the convenience of their mobile device or computer. Users can simply enter the receiving party’s Bitt address (or have them scan a randomly generated QR code in person) to send money. This peer-to-peer money transfer system doesn’t rely on complicated correspondence communication chains or any centralized authority figure. All of the transactions are approved and held accountable by the Blockchain.
The Bitt mandate for Caribbean-wide financial inclusion extends to those who are not smartphone primed. The Bitt Teller is a physical kiosk that can be a cash-in and cash-out point for those within the ecosystem, while also being a transfer facilitator for those without mobile devices.
Bitt’s Merchant Solution is a Payment Processing software that allows merchants to accept Bitcoin and digital currency for their goods and services in-store or online. Any merchant, of any size, is able to create a free merchant account with Bitt and gain the ability to instantly and digitally receive local and foreign payments. Bitt allows merchants to create specific brand-tokens which populate a user’s Bitt wallet. A merchant can then offer these brand-tokens through tailored promotions and allow them to be redeemed for in-store or online benefits – it’s an entirely new kind of marketing tool.
The Bitt Exchange allows users to convert an asset between currencies. Carrying multiple International and Caribbean currencies paired to bitcoin, an easy trading interface makes it simple for users to swap currencies. The Bitt engine is one of the most powerful and robust digital exchanges in the world with substantial liquidity pools and market depth, as well as micro-fees for the purchase and sale of bitcoin and other cryptocurrencies
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