Pouch Partners Strike for Remittance From the U.S. to the Philippines
by Navina Vivekanandan February 2, 2023Filipino startup Pouch has partnered with Strike, a digital payments platform built on Bitcoin’s Lightning Network, for fast, secure, and low-cost remittance payments from the U.S. to the Philippines.
Pouch is a lightning service provider which facilitates connectivity to the Lightning Network which is a second layer built on top of the Bitcoin Network. This allows for the sending and receiving effective and reliable payments.
Customers, including Filipino expats in the U.S., can now send U.S. dollars to the Philippines and have the funds received as Philippine pesos in a recipient’s bank or mobile money account.
Founded in August 2021 by CEO Ethan Rose, Pouch was able to grow its presence in the Philippines by spearheading the use of the lightning wallet in Boracay.
Ethan Rose
“The U.S. to Philippines remittance market is one of the largest in the world, and until now, most Filipino-Americans have been limited to outdated options.
With Pouch’s partnership with Strike, we are revolutionising the way cross-border payments are made, empowering people to easily send money to their loved ones back home,”
said Ethan Rose.
Jack Mallers
“We’re excited to partner with Pouch to advance financial inclusion and bring fast, low-cost cross-border payments via the Lightning Network to the Philippines.
Our technology allows us to both improve on the existing cross-border experience and include those that have previously been excluded by legacy payment rails.”
said Jack Mallers, Founder and CEO of Strike.
