Bridegtown, BARBADOS; December 3, 2018 : Shyft the global blockchain-based network that facilitates the secure sharing of attested and compliant data, has announced the signing of a Letter of Understanding with Bitt Inc., a Barbados-based fintech company that facilitates secure peer-to-peer transactions through its mobile payments software, mMoney. As part of this partnership, Bitt will become an active ecosystem participant utilizing the Shyft network for data transaction needs across Caribbean territories.
Shyft’s data transaction network allows participating financial institutions to act as ‘trust anchors’, perform attestations, and share trusted and verified data among customers participating in the pilot. The two leading companies will leverage their respective strengths in a mandate of strengthening corresponding bank connectivity while reducing costs associated with KYC and AML compliance.
“There are strong synergies between our two companies to propel Barbados and the broader emerging markets of the Caribbean and to boost economic growth and competitiveness”, said Fredrico Nassire, Chief Strategy Officer (CSO) of Shyft Network. “We will focus on creating a highly-secure, transparent and inclusive financial environment for all citizens of all these regions”
“As we continue to make inroads in the Caribbean, Shyft will bring their services to institutions and clients that need it”, said Simon Chantry, Co-Founder and Chief Business Development Officer (CBDO) of Bitt. “This is particularly relevant in Barbados with the deployment of mMoney, where institutions are seeking to leverage the extensive KYC verification functions of mMoney in combination with Shyft’s secure KYC warehousing network.”
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About Bitt
Bitt is a fintech company that utilizes blockchain and distributed ledger technology to facilitate secure peer-to-peer transactions with seamless mobile money across a suite of Bitt’s Software and Mobile Applications. They aim to financially empower everyone and provide infrastructure to support a digital financial ecosystem throughout the Caribbean in order to stimulate economic growth and financial access across future generations.
For more information on Bitt please visit www.Bitt.com
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Shyft is building a blockchain-based ecosystem that allows for the secure and private sharing of data for industries, governments, and consumers. Shyft’s ecosystem helps to streamline and reduce the amount of individual records that need to be collected while allowing for data monetization and the secure transfer of verified, encrypted attested data.
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