Western Union Partners With E-Wallet Coins.ph for Cross-Border Remittances

gepubliceerd op by Cointele | gepubliceerd op

American financial services company The Western Union Company has partnered with Philippines-based e-wallet provider Coins.

Within the collaboration, Western Union will purportedly integrate the Coins.

Ph blockchain-based platform into its cross-border platform, enabling users in the Philippines to receive and hold international money transfers directly into their Coins.

Prior to using the new services, customers reportedly have to register for Coins.

Ph wallet, provide a valid ID, and pass electronic Know Your Customer procedures.

Ph will limit a consumer wallet capacity to 100,000 Philippines pesos per month.

The release reads that over five million Filipinos hold Coins.

Ph wallet, while Western Union has more than 12,000 agent locations in the country.

Last month, Western Union partnered with Stellar collaborator Thunes to enable the company's clients to transfer funds directly to mobile wallets globally.

Western Union emphasized then that this expanded functionality aims to drive financial inclusion globally by easing financial access for the underbanked - and anyone currently not supported by traditional financial service providers.

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