500 Startups Bitcoin SXSW

CoinPip: Money transfers for 1/3 cost in less than 48 hrs.

As we noted in our articles on Rivetz and Factom, this years Startup Debut at SXSW featured a heavy emphasis on Bitcoin startups. While Rivetz and Factom utilize technology and protocols that are somewhat auxiliary to Bitcoin proper, one startup at the event is using Bitcoin as a means to solve a logistical problem. 500 Startups backed CoinPip launched a new service during SXSW that uses Bitcoin to facilitate domestic and international money transfers.

CoinPip-uses CoinPip: Money transfers for 1/3 cost in less than 48 hrs.

Essentially, CoinPip’s new service allows users to send and receive money for a flat 2% rate, all the while cutting out the middle man and eliminating the need for complicated wire transfers. What’s more, the users don’t need to have any knowledge of or experience with using Bitcoin; Bitcoin is simply the medium through which the exchanges take place. Users never interact with Bitcoin, all transfers start and end in the currency of choice.

More than simply eliminating fees complicated forms, CoinPip drastically reduces the transfer time for international payments. Through the payment network, funds take an absolute maximum of 48 hours to transfer. During Startup Debut, we had a chance to speak with Anson Zeall, the Co-Founder of CoinPip. Zeall told us a bit more about the payment network, and how business can utilize the service: