Western Union, an international money transfer service company, announced that it has entered into an alliance with Philips Coin Purses Coins.ph for international and domestic remittances for the Philippines.
Coins provides services such as money transfer, settlement, bitcoin, etherium, and bit coin cache by using smartphone apps. It also received licenses related to the currency of the Philippines central bank.
Through this alliance, Western Union will integrate the block-chain-based Coins platform into its international remittance network. We are using the Western Union International Money Transfer Network to allow more than 5 million coin purse users in the Philippines to make international transfers directly.
In order to make an international transfer, you must register with Coins purse, provide a valid ID, and complete the customer verification process in accordance with Philippine central bank regulations. Also, coin purse users can receive up to 100,000 pesos per month.
According to a report issued by the World Bank, the Philippines is one of the most internationally remittanced countries in the world. In 2018, the Philippines has more than $ 34 billion in remittance records overseas. For more information, please click here .