Joint Development Bank (JDB Bank), Laos’ largest private bank, has tied up with OCTPASS, a global EWallet service, and is highly recommended globally in opening an overseas — offshore bank account.
JDB Bank has begun cooperation with virtual currency wallet OCTPASS,” allowing users to send and receive money overseas and deposit with crypto assets. Upon applying for a JDB bank account, a VISA debit card will be issued, which can be used to deposit and withdraw at ATMs worldwide.
While the only supported currencies are BTC (bitcoin) and USDT (tether), users can easily transfer, withdraw, and charge. Crypto assets can be easily used for shopping, ATM withdrawals, etc., by sending money to OCTPASS and charging it to the debit card.
OCTPASS, a multifunctional and convenient virtual currency wallet, is a Global EWallet service that combines cryptocurrency using blockchain and a debit card that is linked to a bank account. There is no limit to the amount individuals can use through the debit. Withdrawals at ATMs are $50,000 a day and $600,000 a month, making it a recommended card for international business.
The cost of opening a bank account is $800 ($500 and a deposit worth $300), and everything from application to card issuance is completed online.
“Business owners can take this opportunity to expand their business opportunities by using OCTPASS and JDB Bank,” a company representative said.
To create an OCTPASS wallet account, individuals may register with only their email address. When the profile update is complete upon registration online, the debit card application link will be displayed.
When the profile entered is updated, applicants can download the documents, which will be submitted to the overseas bank as a PDF file. They need to download and print two copies. Applicants have to sign and scan the PDF, upload the signed PDF file, and upload a copy of their passport and an image showing them and their passport to complete the application.
Founded in early October 1989, JDB Bank is one of the oldest banks in Laos. After being established as a joint venture between a Thai royal company and the Lao Bank, the shares were sold to Thai shareholders. However, since the latter half of 2012, it has continued to grow rapidly since Laos’s zaibatsu became the bank owner.
It is one of the largest banks in Laos, with about 48 branches in the country alone. Hundreds of ATMs are installed throughout Laos. The latest financial status of banks is regularly posted on the official website, and the current legal tender holding has exceeded 3.5 billion USD. With the development of the country of Laos, the profits of banks have been rising continuously.
JDB Bank is currently attracting attention from wealthy people around the world due to the high economic growth rate of Laos, following Thailand and Myanmar in Southeast Asia. In the past, Vietnam and Cambodia were attracting attention. However, Laos has recently led the way as the hottest emerging country across the region.
JDB Bank is the only international bank in Laos that provides online banking and iOS/Android compatible apps and has been leading financial institutions in Laos as the largest international bank in the country. Its growth rate is also remarkable, where it has achieved rapid growth of 574% in the seven years from 2012 to 2019.
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