BL Bengaluru Bureau, February 21, 2022:
An edtech company, BrightCHAMPS will now accept cryptocurrencies such as Bitcoin, Tether, and Ethereum as modes of fee payment across all the 30+ countries it is operational in, including the US, Canada, UAE, Nigeria, Malaysia, and Thailand, among others.
BrightCHAMPS has partnered with the leading global crypto payment gateway, TripleA, to ensure secure and stable transactions for new and existing customers. Founded in 2017 in Singapore, TripleA is compliant with Singapore’s central bank, Monetary Authority of Singapore (MAS), is a member of the Singapore Fintech Association, and follows international protocols for Anti-Money-Laundering (AML) and Know-Your-Customer (KYC). The announcement comes on the back of BrightCHAMPS’ recent acquisition of Education10x, a financial literacy education platform for children from 8 to 16 years of age.
Speaking of the announcement, Ravi Bhushan, Founder and CEO, BrightCHAMPS, said, “Cryptocurrency is the future of payments, and we, at BrightCHAMPS, are committed to ensuring that our customers are always empowered to embrace change. It is our belief that lack of financial literacy is one of the costliest things that can happen to anyone in the world. The recent addition of financial literacy into our student offerings through Education10x was informed by this belief. So the decision to allow cryptocurrencies as payment was an obvious and imminent one for us. We hope that by enabling crypto payments, we will be able to make our offerings accessible to a wider audience around the world in a seamless and more cost-effective manner with the help of the instantaneous transactions and lower transaction fees that crypto payments are known for.”
After testing and security checks, the crypto-as-payment functionality is now live on the BrightCHAMPS platform across all geographies. Founded in 2020 by Ravi Kishan, BrightCHAMPS aims to bridge the gap between school education and children’s actual learning needs. The company’s methodology relies on play-based learning,and includes fcustomised learning journeys, quizzing and parental dashboards. The company claims to have completion rates of over 90 per cent, an 80 per cent renewal rate and an NPS of around ov0.
BrightCHAMPS is currently operational in 30+ countries, including the US, Canada, UAE, Saudi Arabia, Indonesia, Malaysia, Thailand, Nigeria, etc. It was valued at about $500 million in the $63 million funding round led by investors such as US-based GSV Ventures, Singapore-based BEENEXT, Premji Invest and Flipkart co-founder Binny Bansal-backed 021 Capital.
February 21, 2022
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