The fintech companies Remitly and Coins.ph collaborate to offer a new stablecoin-based remittance service aimed at Filipino overseas workers in the US and Canada.
Remitly, a leading digital remittance provider, and Coins.ph, a Philippine-based mobile wallet and cryptocurrency platform, have announced the launch of a new remittance service utilizing stablecoin technology. This initiative targets Filipino overseas workers sending money to the Philippines from the United States and Canada. The stablecoin-based mechanism aims to provide faster, more cost-efficient, and secure money transfers compared to traditional remittance channels. Both companies emphasize that this innovation is designed to enhance the remittance experience by reducing fees and transaction times while providing transparency and reliability through blockchain technology. Official statements highlight their focus on serving the Filipino diaspora and facilitating economic support for families back home. This service aligns with broader fintech trends promoting the adoption of cryptocurrency solutions for global remittances, particularly benefiting migrant workers who rely heavily on overseas earnings.
Sources referenced:
- https://news.google.com/rss/articles/CBMipgFBVV95cUxQNjNsLWNrR183OU1zME5xQUV5MF9MMHZ2QUVKWDlGVjBpV1Q1ZVBScGhycjJUQ2xXdEdoaHBmcUlNVU0xNlBHdThkeElrYl94UnEzSkVteHhpcXdKeGhRQUVTazVWREpBUUR6SWQ1dWs0VGZxT21tTXk5dFR2SVFTZ01oNzJWX1czX3NQVERfZ3djQUFvY09wNlFtNEY5X3dMNGZ0RG93
