BTL Group Ltd., a technology company and provider of blockchain-based solutions to clients across the globe, has entered into an agreement with Netcoins Inc. to launch in-store remittances.

The service will be initially launched in 19 stores across Canada. Remittances will be offered under BTL's Xapcash brand, using Netcoins' in-store terminals to send funds through BTL's proprietary money transfer platform, Interbit.

BTL recently announced the successful acquisition of blockchain company, Xapcash Technologies Inc. The companies have been working together on new blockchain based remittance products to transmit funds globally, efficiently and at significantly reduced costs to users.

With this latest agreement with Netcoins and its Xapcash brand, BTL's blockchain technology aims to offer a seamless money transfer experience, both online and in-store.

"This agreement is a significant step forwards for BTL, and we believe will be the first time blockchain based remittances have been offered in physical stores," said Guy Halford-Thompson, CEO of BTL. "The ability to offer in-store, as well as online remittances, through our Xapcash platform will significantly increase our customer reach, and we are excited to be working alongside Netcoins and their team."

BTL and Netcoins are working together to bring blockchain based remittances to physical stores, and the integration and testing process is already in progress The first stores are expected to go live at the end of April 2016.

"We are very excited to be working alongside BTL to bring cost effective money transfers to physical stores," commented Michael Vogel, Netcoins' founder and CEO. "The combination of BTL's money transfer technology and the Netcoins platform will result in a unique remittance platform with significant advantages over existing services."

Founded in 2014, Netcoins is a Bitcoin ATM company and provides virtual Bitcoin ATMs to retailers. It has been spreading its reach in Canada and beyond.