GBCI Ventures sets up HQ, pilots ‘money app'

Currency exchange and residual currency storage are some of the services offered.

Singapore-based GBCI Ventures has launched its fintech app Fincy which claims to provide an affordable alternative to existing financial services, a press release revealed.

Some of the services included are currency exchange, residual currency storage and multi-currency e-wallet.

Users can top up their wallet via a local bank transfer and perform currency exchanges at zero transaction fees. Fincy can also be used to perform transactions, receive salaries and manage money without any physical contact.

Based on the Building Cities Beyond (BCB) blockchain protocol, this app is already available in Myanmar and Cambodia with 40,000 users, 700 merchants, and 40 companies utilising it.