John Briggs, East Coast editor of Tech Crunch, has started a new bitcoin platform Freemit for sending money abroad. The beta version will be launched in January 2016 operating in 20 currencies including US dollar, pound sterling, euro, Japanese yen and Chinese renminbi.

Freemit is targeted at travellers and uses the blockchain technology and bitcoin to move money between countries in local currencies. The platform advertises a Freemit debit card to transfer funds without hidden exchange fees.

The philosophy behind the new app is to make travel experiences more enjoyable:

“Travel should be a time of gifts. Travel should expand us, educate us, show us new ways forward. The last thing you want to think about is how you’re going to afford ramen or a sweater. The last thing you want to think about is whether or not the bodega takes credit cards. The last thing you want to do is worry,” Briggs writes in the corporate blog.

Freemit app is already in iTunes store offering users to transmit funds safely and at no cost to family and friends internationally in Europe, India and China. The transfers under $500 are advertised as free of any fees. The app also supports P2P remittances from Europe to the US. The app can be connected to bank or debit cards.

The Freemit website invites users to join the waitlist and meanwhile to send their first $10 for free.

“Freemit is building a way to share money with friends, family, and employees. It's really cool. We can't tell you much about it yet,” the announcement on AngelList reads.

The co-founders include, besides Briggs, Richard Svinkin, California-based strategist in IT sphere, and Paul Goudas, specialist in Investment Banking.

Sonya Belova