Cryptocurrency exchange Coins.ph has partnered with Higlobe, a fintech company focused on cross-border payments, to provide an alternative payment option for Filipino freelancers receiving income from overseas clients.
The partnership allows freelancers to receive payments from US-based clients through Higlobe’s platform and convert the funds to Philippine pesos using the Coins.ph app.
The companies said the service is intended to address issues such as exchange rate markups, transfer fees, and delays in fund availability.
Through the arrangement, users can receive US dollar payments into a dedicated receiving account, convert the funds with what Higlobe describes as a low-cost guarantee, and withdraw pesos to local bank accounts.
Higlobe’s policy includes matching lower rates if found elsewhere, factoring in both fees and exchange rate differences.
Higlobe country manager Algie Mabasa said the company’s goal is to help reduce the amount lost to payment charges when freelancers transfer earnings to the Philippines.
Coins.ph country manager Jen Bilango, for her part, said the collaboration is part of efforts to expand payment options for Filipinos engaged in online work.
