Cash2VN switches to Native SegWit format for Bitcoin remittances

Vietnamese crypto remittance platform Cash2VN has – in their quest for optimization of Bitcoin on-chain transactions – switched their service to support exclusively the Native SegWit address format for Bitcoin transactions.

Cash2VN - now exclusively supporting Native SegWit address format
Cash2VN – now exclusively supporting Native SegWit address format

Cash2VN enables anyone around the world to send funds to Vietnam (all local banks & various cash offices in major cities across the country available) without further account sign-up.

The sender simply specifies the VND amount and provides the necessary details of the recipient and the funds will be received within the same day.

Don’t forget - 8th of March is International Women's day - sending funds to your significant other made seamless by Cash2VN
Don’t forget – 8th of March is International Women’s day – sending funds to your significant other made seamless by Cash2VN

Continuously rising transaction fees for Bitcoin on-chain transactions made it necessary to implement further optimization in order to keep it possible for the end user to utilize Bitcoin remittance payments.

Mid-term however it is to be expected that payment protocols such as the Lightning Network will handle the majority of payments on top of the actual Bitcoin Settlement Layer.

http://bit.ly/32LbCLR

Besides Bitcoin, Cash2VN users are able to send remittances to Vietnam via a variety of alternative cryptocurrencies such as Litecoin, Bitcoin Cash, DASH which provide lower on chain transaction fees.

A variety of major stablecoins such as USDT (ERC20 & SLP standard), USDC and DAI are supported as well.

The announcement by Cash2VN follows the recent implementation by mother firm BitcoinVN to exclusively support Native SegWit addresses on their infrastructure.