First Instant Bitcoin-Based Remittance Service Launched in the Philippines
The first instant remittance service to the Philippines has launched, using Bitcoin to facilitate near-real time funds transfer to the country. Zinger, a startup initially servicing the Canadian-Filipino remittance corridor, has announced a partnership with local service Coins.ph. Now, banked workers in Canada can use the domestic payments provider Interac to pay for a Bitcoin transmission to a Coins.ph wallet, which may be cashed out at a range of Philippines locations. Lorne Lantz, creator and CEO of Zinger, told CoinTelegraph that he came onboard with Coins.ph, one of a considerable....
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Coinbase customers in 24 countries will now be able to use a cash-to-cash remittance service based on bitcoin's blockchain to send money to the Philippines. By employing Coinbase's API, Philippines-based Coins.ph is allowing the wallet and exchange platform's two million registered users to send pesos to recipients in the Southeast Asian country through a variety of delivery methods. To use the service, users must place a sell order directly on Coins.ph and pay with their authorised Coinbase wallets in USD. Coins.ph then delivers the cash in pesos to the recipient through a number of....
FastCompany’s report revealed that overseas remittance totaled $429 billion in 2016. Some of the largest Remittance markets include China and the Philippines. Already, bitcoin startups have begun to dominate the remittance markets in the two countries, with the Philippines leading bitcoin remittance innovation. Both domestic and international remittance is a massive market within the Philippines. Companies such as Lhuillier and Palawan operate thousands of branches throughout the country, with deeper market penetration in comparison to international remittance companies such as Western....
Philippine bitcoin exchange and remittance service Coins.ph has added an 'instant remittance' service to its list of options, allowing recipients to withdraw sent funds directly from a bank ATM. Using the company's mobile app, customers anywhere in the world can deposit cash via a bitcoin ATM and have a friend or relative collect it instantly from a bank machine. Money can also be sent directly from bitcoin balances in Coins.ph web wallets. To make this possible, Coins.ph has integrated with the eGiveCash service operated by the Philippines' Security Bank. Anyone receiving money via this....
The practically non-existent start-up ecosystem in Philippines has suddenly sprung to life. Thanks to the bitcoin revolution, the number of start-ups, particularly cryptocurrency related ones is increasing from the past couple of years. The success of Bitcoin in Philippines can be attributed to the social and economic factors. The two main factors that has led to a bitcoin boom in Philippines: Philippines has a huge remittance market. Like China and India, there are many Filipino emigrant workers employed across the world. Like in any other developing countries, even the emigrant Filipinos....
Token Hub Asia in the Philippines recently celebrated its one-year anniversary as a remittance service for an altcoin called Eternal Coin (XEC) serving the Philippines, Japan, Hong Kong and Korea. Eternal Coin is owned by a Japanese company called Atom Solutions. The service charges users a flat 2 Philippine peso (approx $ 0.04 USD) remittance fee. It is possible to send the funds directly to a recipient’s mobile phone. Remittance Via Mobile Phone. “Through the use of your own mobile device, Eternal coin is the world’s first digital currency in which the transmission can be performed with....