Remittance

Fintech Startups Make Moves in the Philippines as Remittance Inflows Recover

With lockdowns easing up, Filipinos based abroad are back at sending money home. According to data from ING, overseas Filipinos are defining expectations, sending a total of US$2.78 billion worth of remittances back to the Philippines in July, representing a

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Manny Pacquiao to Launch Digital Payment Platform PacPay

Pac Technologies, co-founded by boxing world champion Senator Manny Pacquiao, aims to launch PacPay, a digital payment platform this year. The company will be collaborating with Remsea, a fintech remittance firm licensed by the Monetary Authority of Singapore for the

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UnionBank Rolls Out 11,000 Cash Out Options Nationwide

UnionBank recently rolled out more cash-out options for customers via 11,000 remittance counters across the Philippines, including in rural areas where most of the unbanked and underserved population are located. Recognizing that sending funds to families and relatives living in

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Dubai-Based RAKBANK, BDO and Ripple Teams up for Remittance to the Philippines

Dubai-based bank RAKBANK recently enhanced its current remittance footprint in the Philippines by partnering with BDO Unibank, a full-service universal bank in the Philippines. The Bank’s RAKMoneyTransfer (RMT) services will now enable customers to make instant, frictionless, and secure money

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Azimo and Ripple Teams Up for Cross Border Remittance to The Philippines

Azimo, a European based money transfer service, announced today that it has partnered with Ripple, the enterprise blockchain solution for global payments. Azimo has launched its first service using Ripple’s On-Demand Liquidity solution (ODL) to send faster and cheaper cross-border

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UnionBank and OCBC Pilots Blockchain Based Remittance from Singapore to the Philippines

UnionBank of the Philippines recently became the first Philippine bank to successfully pilot blockchain-based remittance from Singapore to the Philippines. This was done in partnership with OCBC Bank, Singapore, using the Adhara liquidity management and international payments platform. Amid a

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The First Stablecoin Pegged to the Philippine Peso is Launched to Facilitate Money Transfers

Bitspark, a bankless money transfer platform, has just launched what it claims to be the first market-ready cryptocurrency pegged to the Philippine Peso (PHP)—named the peg.PHP Based in Hong Kong, the blockchain-enabled company made the revelation today, following its recent

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Philippines’ Cryptocurrency Enabled Wallet Can Now Accept Western Union Transfers

Blockchain-based financial services company Coins.ph and  Western Union have teamed up to allow the fintech startup’s five million customers receive international and domestic money transfers directly into their mobile wallets in the Philippines. The collaboration was announced following news of

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Ripple Backs Philippine-Focused Remittance Firm SendFriend in $1.7M Funding

SendFriend, a Philippine-focused remittance market startup, has raised up to US$1.7 million capital in a venture round backed by blockchain giant Ripple also known as the cryptocurrency XRP. Other leading investors include the MIT Lab, Mastercard Foundation, Barclays, Techstars, Mahindra

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