INSUBCONTINENT EXCLUSIVE:
If you want to convert Netflix gift cards into dollars on a PayPal account, you usually have to find someone willing to do the same
transaction in the other direction
It can quickly go wrong if you never receive your money.Meet AirTM, a service that makes it easier to convert any form of money into any
You can deposit money using banks, gift cards, cash through Western Union and other equivalent services, cryptocurrencies and more
You can withdraw money through any of those protocols as well
AirTM is raising a $7 million Series A with BlueYard leading the round.While many of you probably don&t see why you&d use a service like
this, AirTM users in Venezuela are willing to pay high fees to convert their bolívars into anything else
Multiple years of hyperinflation have turned everyone savings into piles of bills that are worth close to nothing.AirTM accounts aren&t bank
When you create an account, you get an e-wallet in AirUSD
You can deposit and withdraw money as well as send and receive money
Depending on your payment method, you&ll get different fees.For instance, there a huge supply of money from PayPal, which means that you&ll
pay quite a lot to deposit money using PayPal and convert it into AirUSD.While AirTM sounds great for money laundering, the company is a
registered money service business and follow anti-money laundering and know-your-customer requirements
The company is just getting started as it manages $9 million in monthly transaction volume with 4,000 daily active users
But it clear that it has the potential of creating an alternative to traditional banking in countries with volatile currencies.
