Western Union officially announced a new partnership with a Philippines-based crypto wallet provider which we are reading more about in our cryptocurrency news below.
The partner of Western Union Coins.ph is a blockchain-based crypto wallet provider who has a goal to help people who are unable to open bank accounts. By allowing them to make crypto purchases, Coins.ph provides mobile wallets services such as bill payments and mobile air-time.
The new partnership is being seen as a way to enable about five million customers to use international and domestic money transfers with the Coins.ph wallet in within the country.
The government leaders in the country hard to become well-known in the crypto space. They have even developed multiple policies that strive to boost the image of the country as a very friendly place for crypto businesses. The partnership with Western Union could improve this image for the country considerably. The goal with the integration of the Coins.ph is to provide a platform with the help of Western Union for a unique cross-border platform for the Filipino workers. The workers will be able to receive money transfers via the Western Union digital network.
Coins.ph CEO Ron Hose stated:
“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.”
At the start of March, Western Union announced another partnership with another cross-border payment network so customers will be able to send funds directly to the recipients’ wallet.
The company is also working hard to obtain crypto-related patents. According to the documents from the US Patent and Trademark Office, Western Union wants to increase the security on electronic payments with a new method.
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