Digital remittance firm Remitly and Philippine-licensed crypto exchange Coins.ph have launched a stablecoin-powered remittance solution designed to enable near-instant, lower-cost money transfers from key overseas markets to the Philippines.
Western Union has introduced its first digital app in the Philippines, giving users the ability to both send and receive money internationally — a dual functionality not yet available in other markets.
The service, called BPI Remit, allows senders in the US to transfer funds directly from their bank accounts to BPI accounts in the Philippines using the bank’s mobile app or online platform.
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.
Cryptocurrency exchange and digital wallet Coins.ph has announced a partnership with HashKey Group, operator of Hong Kong’s largest licensed crypto exchange, HashKey Exchange.
Digital payment firm Visa has released its annual digital remittances adoption report, which revealed that the bulk of remittances to the Philippines was sent and received through digital platforms.
Homegrown crypto platform Coins.ph is aiming to capture a pie of the multi-billion remittance market from Overseas Filipino Workers (OFWs) as it announced a bold leap onto the global stage with an ambitious expansion plan into Australia, Europe, Africa, and Latin America.
Metrobank has expanded its partnership with remittance company Pera Hub, allowing individuals to conveniently send money to Metrobank account holders nationwide.
Digital payment firm Xendit has signed up new partners in the Philippines in a bid to expand its operations in the country after raising $150 million Series C funding that elevated the company to a short-list of Southeast Asia unicorns.
