VHWallet was built upon the VHW coin issuance. VHW was initiated to bridge the world of fiat currency and cryptocurrency together. Its primary focus was to integrate and improve the current international remittance industry by lowering its cost and improving its time efficiency.
Remittance was put forward as it offers a sense of
familiarity before expanding into the cashless application in
Using blockchain remittance, a transfer can be done instantly instead of the traditional methods that take three to five working days.
Cryptocurrency remittance is able to make transactions much lower than the 6.99% average fee charged on traditional methods.
With lower fees, foreigners and small businesses are able to send small amounts of money back more frequently.
VHPay is part of the second phase of VHW’s expansion plans. It was designed to grow the usage of cryptocurrency to create a borderless experience.
With access to billions of dollars in market capitalization, VHWallet and VHPay could be used as the gateway to grow
cross border economies and attracting foreign funds into the country.
Foreigners may easily make payments in the local market using an internationally recognised form of value.
People who travel will no longer lose out on foreign exchange spreads during conversion. Using cryptocurrency will allow transactions in the same value.
With a smartphone and an internet connection, users can access their wallet anywhere in the world.