BitMinutes

BitMinutes is a mobile fintech startup that aims to address the need for a reliable and universally accepted unit of exchange for mobile payments. Leveraging the global acceptance of mobile phone airtime minutes, BitMinutes introduces a simple yet practical international unit of exchange. The company is targeting over 2 billion un-banked consumers across 70 countries by using prepaid cellphone minutes to collateralize micro-loans.

Micro-loans, unprofitable for traditional banks, incur high interest rates of 80-100%. BitMinutes' innovative approach aims to make small financial transactions profitable, effectively transforming local retailers into corner bankers through a Trusted Agent Network (TAN). This network allows for the offering of micro-loans at a 50% discount to current rates, with network marketing supporting the expansion of TAN into a virtual cloud-based financial services provider for under-served communities globally.

BitMinutes also function as real currency, offering the flexibility to use them as phone minutes or for paying bills at participating vendors and government agencies. Additionally, unused BitMinutes are redeemable for cash in 70 countries within the next 18-24 months, marking a significant step towards widespread adoption and utility.

Founded in 2017, BitMinutes operates at the intersection of financial services and information technology, with a vision to offer a long-term solution for secure and accessible financial transactions. Furthermore, the company ensures the perpetual value of BitMinutes, as they never expire.