Cryptocurrency often appears as market-driven solely by hype and marketing. Dozens of new projects appear each day, with little backing them beyond good marketing. The ICO boom of 2017/2018 started this trend, but not every new cryptocurrency adheres to this business plan. Telcoin (TEL) emerged amid the ICO boom and quietly began paving the way for future success. While other projects made grand promises and failed to deliver, TEL spent the crypto winter courting international money transfer organizations and telecoms.
Presently, Telcoin offers money transfers through 24 mobile wallets in a variety of nations – bringing a new degree of attention to the hard-working ERC-20 token. TEL’s value exploded in April of 2021, increasing exponentially as the market realized how far their project had progressed. It’s unusual for a successful project to avoid attention, yet Telcoin managed to stay under the radar until long after they reached minimum-viable-product status.
What is Telcoin?
Telcoin’s TEL is an Ethereum based token focused on simplifying global remittances while reducing transfer fees. Recognizing that mobile phones are more ubiquitous than banking services in many areas of the world, they’ve accomplished their plan through development and integration with mobile wallets. In addition to Telcoin’s wallet, their system allows for easy integration with proprietary telecom systems.
Beginning in Africa and Southeast Asia, TEL brought local telecoms onboard with their system in a measured, focused expansion. As a cryptocurrency, Telcoin does not suffer the same level of fees present in most international money transfers. Due to this, they’ve gained momentum in the multi-billion-dollar remittance industry as one of the leading ways to send money home from working abroad.
Bringing Telcoin to the United States
Now featuring a refined product with a tested use-case, Telcoin set its sights on the United States. The regulatory environment within the US is a nightmare for cryptocurrency, with individual states often setting their own rules – in direct contrast with each other and federal guidelines. Lacking a unified approach, the US forces cryptocurrency projects to navigate a byzantine array of the confusing legislature.
Yet, Nebraska hopes to become a hub for cryptocurrency and blockchain technology. Their aggressive approach to allowing cryptocurrency services could position them at the forefront of digital currency in coming years. Telcoin assisted in drafting their most recent bill, intending to offer their services in the state as soon as possible.