https://sendmoney.coins.ph/
Alternative (estimated) cost comparisons welcome ( eg factoring in spread and fiat exchange rates
) but it certainly looks competitive.
Current total remittances to Philippines is in the region of $24 billion a year so to capture 1% of that market in its first year would give them 3% of $24 million from their spread ...nice if they can reach that. Internal remittances ( city to city) are probably in the same region but a lot of promotion/education would be needed in both instances, particularly for internal remittance as many/most are blue collar or laborers on minimum wage which is about $10/day average and are not tech savvy
Alternative (estimated) cost comparisons welcome ( eg factoring in spread and fiat exchange rates
) but it certainly looks competitive.Current total remittances to Philippines is in the region of $24 billion a year so to capture 1% of that market in its first year would give them 3% of $24 million from their spread ...nice if they can reach that. Internal remittances ( city to city) are probably in the same region but a lot of promotion/education would be needed in both instances, particularly for internal remittance as many/most are blue collar or laborers on minimum wage which is about $10/day average and are not tech savvy
That's true, mass adoption in the philippines will be a bit of a challenge, but if we start with the young adult population which are a bit more technically inclined (16-30 yrs old?), and make them realize the dire effects of inflation on the PHP, then it should all run smoothly.