- Home >> Features >> Technology
Blockchain could drive remittance sector and vice versa
- Friday | 10th August, 2018
AlipayHK, a mobile and online payment platform, recently launched a blockchain remittance service between Hong Kong and the Philippines. By launching its blockchain remittance service in the Philippines, AlipayHK is tapping into the country’s over $30 billion remittance market, which accounted for 10.2% of its GDP in 2016. The Overseas Filipino Worker (OFW) customer segment is an excellent match for AlipayHK’s blockchain remittance service. Now in a three-month trial period, the service has the potential to scale and invigorate the legacy global remittance market. Given its expansive user base and the value of the global remittance market, Alipay can replicate this service in other markets.
If You Like This Story, Support NYOOOZ
Your support to NYOOOZ will help us to continue create and publish news for and from smaller cities, which also need equal voice as much as citizens living in bigger cities have through mainstream media organizations.
