Western Union Just Can’t Stop With Crypto (Flirting)
Western Union was never shy to show an interest in crypto-related opportunities. Last year the company started to work on patents, which suggest that the method to increase the security of electronic payments is in development. There were some tests with XRP also.
And most lately, the partnership with a Philippines-based e-wallet Coins.ph was announced. The company’s goal is to help unbanked people providing them with access to services like crypto purchases, remittances, mobile air-time, and bill payments.
What’s there for Western Union, you ask. Well, this partnership will allow more than 5M customers to receive domestic and international money transfers directly into their Coins.ph wallets. Filipino workers are the targeted audience. Here is a statement from Coins.ph CEO and co-founder Ron Hose:
“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.”
Neat, huh? All in all, a great move from Western Union. Now it’s up to their competitors to make a move.