Coins.ph, a blockchain-powered mobile wallet provider based in the Philippines, has joined forces with money transfer firm Western Union to support cross-border payments.
The partnership will enable the Filipino firm’s clients to receive international and domestic money transfers directly into their wallets.
Through the tie-up, Coins.ph’s five million customers will gain access to Western Union’s network spanning more 200 countries.
Coins.ph supports money transfers, mobile air-time, bill payments, transportation providers as well as digital currency purchase.
Earlier this year, Indonesia ride-hailing app Go-Jek acquired a stake in Coins.ph.
Commenting on the latest partnership, Coins.ph co-founder and CEO Ron Hose said: “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.
“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.”
Hose said that there are nearly 10 million Filipinos staying or working abroad.
In this context, the fintech firm cited World Bank data. It ranked Philippines as one of the top remittance receiving countries globally.
Western Union started supporting remittances in the country from 1990.