The Coins.ph cryptocurrency wallet provider has announced a partnership with Western Union, which will facilitate the receipt of remittances in the Philippines.
According to the statement , thanks to the integration of the two platforms, 5 million clients of blockchain companies in the country will be able to receive both domestic and international money transfers directly into their Coins.ph wallet.
“Many Filipino workers from abroad regularly send money home and are always looking for additional remittance options that will allow their loved ones to receive funds. By connecting Coins.ph payment technology with Western Union's extensive global network, we give Filipinos a seamless choice for getting money in digital form on the go , ”said Coins.ph co-founder and CEO Ron Hose.
He added that it is estimated that 10 million Filipinos are working or living abroad, and the partnership will provide their families with an easy and convenient way to receive remittances, especially in remote areas with poor infrastructure.
In addition, through a partnership with Western Union, Coins.ph expects to expand its user base in the Philippines.
Recall that earlier in the country CoinText.io service became available for the implementation of Bitcoin Cash transactions (BCH) via text messages (SMS). The company primarily aimed at the market of remittances to the Philippines from abroad – their volume is estimated at $ 30 billion a year.
Huaren Capital’s plans to release digital pesos to facilitate transfers from China, as well as the development of a blockchain platform for transactions from Japan by the Commercial Banking Corporation Rizal, are directed to the same market.
Publication date 10/04/2019
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