Telx announce a great new concept that lets you send cryptocurrencies via a text message

Telx Technologies has launched a SIM card which can be used to send cryptocurrencies payments via SMS. The agenda behind the project is to let people send money internationally without the need for a smartphone, even an Internet connection. According to the telecommunications firm, its launch will be the world’s first such SIM card used for this purpose.

The company seems to be targeting the non-tech savvy audience as you do not need a wallet to store the crypto. It plans to launch in 180 countries and will support transactions in Bitcoin, Litecoin, Dash, Zcash, and Bitcoin Cash.

Instead of using a wallet addresses, the solution is to use a phone number to identify the people involved in a transaction.

Telx has agreed to use Bitgo as a partner and the wallet services company will impose a 0.10% fee on all transactions. 

Founder and CEO Mark Penovisch had this to say about the launch, “Our goal at Telx is to natively embed peer to peer transactions into the world’s most widely used communication method, SMS messaging.”