Crypto and Web3 News from the Philippines
Ripple and Novattiās effort first targets the Australia-Philippines corridor through a partnership with iRemit, a Filipino remittance service provider which also holds e-money and virtual currency exchanges licenses.
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UnionBank of the Philippines launched the stablecoin called PHX to facilitate a blockchain-based cross-border remittance transaction.
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The test was done on June 27 by remitting money from OCBC bank in Singapore to Cantillan Bank in Surigao.
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Bitspark said they see this as a way forward to introduce stablecoins without the need for understanding blockchains directly.
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Vienna-based fintech startup Transpaygo announced its addition as one of Ripple’s partners for xRapid, its cross-border money transfer system powered by XRP.Ā
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The two companies also agreed to partner when it comes to marketing and market exploration.
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A growing number of people from the United States are now showing a bigger interest in using cryptocurrency as a means of sending money.
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A company wants to use blockchain to speed up remittance transactions from Australia to the Philippines.
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SendFriend, a Ripple-powered xRapidĀ payments solution aims to cut costs and speed up remittances from the US to the Philippines.
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Ken Research projected that from 2018-2022, the Ethereum blockchain will become a primary means to lessen the cost of remittances.
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