Western Union Integrates with Coins.ph’s Crypto Wallet
Coins.ph, one of the Philippines’ leading Bitcoin companies, and money transfer giant Western Union has announced a collaboration to enable more than five million customers to receive international and domestic money transfers directly into their digital wallets in the Philippines.
The integration of the Coins.ph blockchain-enabled platform and Western Union’s cross-border platform allows Filipinos to receive and hold international money transfers initiated from Western Union’s digital network in more than 60 countries and retail network in more 200 countries and territories.
“There are many overseas Filipino workers who send money back home regularly and are always looking for additional remittance options that will make it most convenient for their loved ones to receive money,” said Ron Hose, Coins.ph co-founder and CEO. “By pairing Coins.ph’s payments technology with Western Union’s expansive global network, we are giving Filipinos a seamless choice to receive money digitally, on the go.”
“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,” added Hose.
With over five million Coins.ph wallet holders in the Philippines, the agreement signals the continued efforts of both companies to offer millions of Filipinos quick and convenient access to remittances, in urban and remote underserved areas.
Remittances are crucial for millions of Filipinos. According to the World Bank’s Migration and Remittances Brief 302, the Philippines is one of the top remittance receiving countries in the world. Western Union has been providing money transfer services in the Philippines since 1990 and has more than 12,000 Agent locations3 in the country.
Coins.ph offers financial services for Philippines residents, including those who do not have a bank account, offering a mobile wallet enabling services such as remittances, bill payments and cryptocurrency purchases. The firm holds both Virtual Currency and Electronic Money Issuer licenses issued by the central bank.
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