The Philippine blockchain startup Coins.ph has started cooperation with Western Union, the American payment corporation. Now millions of people in the region can comfortably transfer money.
International payments that are made using the Western Union infrastructure will go directly to the digital wallets served by the Coins.ph and used by more than 5 million people. The purpose of the service is to offer residents of cities and remote areas the opportunity to make money transfers with maximum convenience.
Molly Shea, WU General Manager of Asia Pacific, mentioned: “Thanks to our new partnership with Coins.ph, we are pleased to present our customers in the Philippines new opportunities that will always be easy to use. The Philippines is one of the most frequent money transfer destinations in the world. At the same time, the industry is steadily developing. The volume of remittances of the region residents who live abroad, in July last year was reaching to $2.7 billion”.
Molly Shea also added: “About 10 million Filipinos work abroad and constantly send money home. They should have as many variations as possible for remittances”.
It is reported that before starting to use this service, users need to pass a verification, after which it will be possible to receive about $2,000 per month for each registered wallet in Coins.ph.
In December of the last year, the president of Western Union for global money transfers, Odilon Almeida, the President Western Union Global Money Transfer said that the service is ready to add cryptocurrency at any time, however, they will do it when they consider it as a right step.