On 10th August, a Filipino based financial services platform, Coins.ph, announced that XRP has been added to its platform to be used as a means of payment for utilities. The Platform has already reported an average of 5 million userbases already in the platform meaning that they can use XRP for payments instead of the traditional fiat currencies.
Coins.ph enables peer-to-peer wallet transfers, payment services, mobile top-ups, internet shopping and remittance services. Running on the blockchain technology, it uses digital currency as a low-cost path to banking and extending its reach to the unbanked regions in the Philippines. By 2020, the company plans to have 20 million customers on board, mostly through the influence of XRP.
Initially, the platform was only restricted to Bitcoin [BTC] but soon started integrating various other services on its platform.
In a recent interview, the head of cryptocurrencies at Coins.ph, Colin Goltra said that currently the XRP integration has been limited to a select number of participants on the Android app.
He further added:
“We’re still gathering data and deciding on our support level for XRP“
A Twitterati replied in response to the announcement:
“Great news! Sending money will be so much faster and hopefully way less expensive for you and your family!”
Another Twitter comment said:
“I have family on the Philippines. With that, i do not need @WesternUnion anymore!”
Also, the partnership with Wirex enabled many XRP holders to purchase everyday items with the Visa card where users transferred millions of XRP into it.
Another partnership between Ripple and TranferGo, a London based remittance payment company added XRP along with other cryptocurrencies for trading.
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