30th Mar 2016 13:00
LONDON (Alliance News) - Vela Technologies PLC on Wednesday said the BTL Group Ltd technology company in which it has a 5% stake agreed with Netcoins Inc to introduce in-store remittances to 19 stores in Canada.
Vela, an investing company listed in London, took its stake in TSX Venture Exchange-listed BTL Group in November.
Remittances will be offered under BTL's Xapcash brand, using Netcoins' in-store terminals to send funds through BTL's Interbit money transfer platform.
"This agreement is a significant step forwards for BTL, and we believe will be the first time blockchain based remittances have been offered in physical stores," Guy Halford-Thompson, chief executive officer of BTL, said in a statement.
Shares in Vela were up 3.9% at 0.187 pence on Wednesday afternoon.
By Samuel Agini; [email protected]; @samuelagini
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