{"id":61376,"date":"2023-10-11T17:14:21","date_gmt":"2023-10-11T21:14:21","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=61376"},"modified":"2023-10-11T17:15:13","modified_gmt":"2023-10-11T21:15:13","slug":"circle-partners-with-coins-ph-to-boost-remittance-in-philippines","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/circle-partners-with-coins-ph-to-boost-remittance-in-philippines\/","title":{"rendered":"Circle Partners With Coins.ph to Boost Remittance in Philippines"},"content":{"rendered":"\n

Coins.ph and global fintech company Circle<\/a> have partnered to encourage the usage of USDC for remittances in the Philippines.<\/p>\n\n\n\n

\"Circle
Circle Partners With Coins.ph to Boost Remittance in Philippines<\/figcaption><\/figure>\n\n\n\n

The partnership, revealed in a press release on October 10, intends to give the 18 million Filipino users of Coins.ph and their relatives and loved ones overseas a faster, more affordable, and more convenient remittance option.<\/p>\n\n\n\n

A stablecoin called USDC operates on international blockchains and is backed 1:1 by U.S. dollars<\/a>, allowing for quick and inexpensive transactions. On Coins.ph, USDC may also be quickly converted into local money or other cryptocurrencies.<\/p>\n\n\n\n

With $36.1 billion in remittance flows in 2022, the Philippines will be the fourth-largest recipient of remittances in the world, according to the World Bank. <\/p>\n\n\n\n

However, traditional remittance channels can have exorbitant costs and protracted transaction timeframes. By promoting awareness and education of USDC for remittances, the cooperation between Circle and Coins.ph\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> will work to change the current remittance situation, starting in the Philippines.<\/p>\n\n\n\n

Raagulan Pathy, Circle's Vice President for Asia Pacific “Working with Coins.ph is an extension of how Circle is making the movement of money more accessible, inclusive, and efficient,” <\/p>\n\n\n\n

\n

“By making cross-border transactions near real-time and dramatically reducing transaction costs, we support the United Nations' Sustainable Development Goal of reducing to less than 3 percent the transaction cost of migrant remittances by 2023”.<\/p>\n<\/blockquote>\n\n\n\n

Circle has teamed with notable companies, including FTX, Huobi Global<\/a>, and others to increase its footprint and impact in Asia-Pacific. This includes the cooperation with Coins.ph. <\/p>\n\n\n\n

Circle recently disclosed its intentions to merge with Concord Acquisition Corp., a Special Purpose Acquisition Company (SPAC), to become public.<\/p>\n","protected":false},"excerpt":{"rendered":"

Coins.ph and global fintech company Circle have partnered to encourage the usage of USDC for remittances in the Philippines. The partnership, revealed in a press release on October 10, intends to give the 18 million Filipino users of Coins.ph and their relatives and loved ones overseas a faster, more affordable, and more convenient remittance option. […]<\/p>\n","protected":false},"author":43,"featured_media":61378,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[1658,16718,12081],"class_list":["post-61376","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-circle","tag-coins-ph","tag-philippines-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/croc_1697055607722.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/61376","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=61376"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/61376\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/61378"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=61376"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=61376"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=61376"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}