Cryptocurrency enthusiasts in the Philipines would now enjoy seamless cross-border crypto transfers, thanks to the new partnership between crypto wallet provider Coins.ph and U.S. financial service firm, Western Union.
This alliance will open new doors to the over 5 million Coins.ph registered users in getting both local and international payments, transferred into their Coins.ph digital asset wallets.
According to Coins.ph, the decision to partner with Western Union is due to its desire, to not only expand its services but to also give its customers the opportunity of receiving cash payments from virtually any nation in the world.
The blockchain company noted that it is ready to leverage on Western Union’s worldwide reach in money transfers to grow its user base as well.
Ron Hose, founder and CEO of Coins.ph, while speaking on the partnership, said there are millions of Filipino workers abroad, who continuously seek additional ways to send money home to their loved ones.
“There are an estimated 10 million Filipinos working or residing overseas.”
With this collaboration, we are proud to serve their families back home with even easier access to our suite of services and maximize positive impact on communities in the country,” he said.
Apart from running a bitcoin remittance and brokerage service firm in the Philipines, Coins.ph has branches in Thailand, Malaysia and Hong Kong.
Its core mandate is to ensure that it simplifies the process of trading bitcoin through convenience stores, bitcoin ATMs, wire transfers and others.
More so, the firm has a mobile wallet to give its clients more options when it comes to paying bills, mobile airtime top-ups and cash remittances.
This feat does not only favor Coins.ph but also Western Union, in its blockchain efforts.
Recall that Sheri Rhodes, the CTO of Western Union, in an interview in 2018, said the firm is poised at making the application of blockchain technology a reality.
He also hinted that Western Union was already in talks to partner with Ripple Labs to test the cost and speed of sending money over a blockchain.