[Cebuana Lhuillier] acquires stake in Kakao Talk-backed fintech company SCI

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Good news mga kabayan!

Click the image for the link.

Finally, Cebuanna Lhuiller announced it's partnership with KakaoTalk app (Korea's famous and largest messaging app) and SCI Ventures (Satoshi Citadel Industries Ventures Inc.)

What is SCI Ventures Inc.?

Image source

If you are not yet familiar with  SCI Ventures Inc. Their company offers a financial services like remittances and other money services like mobile wallets, money processing, etc. using blockchain technology. Their investor is Kakaotalk Investment company. To fully understand the said service, ito ang website nila.

How about Kakaotalk Investment?

Click the image for the link

Familiar naman tau sa Kakaotalk, we are using that messaging app, too. Para sa hindi pa familiar, the aim of their company is to "connect everything" between people, things, information through mobile. Para etong messenger ng FB but with different and many features. Explore their site here.

Kung naalala natin, inalis ng Cebuana ang payout options na manggaling sa Coins.ph mobile app. Isa itong issue na ipinagtaka ng karamihan. Ang tanong ay bakit? Their are rumors that they are going to launch their own coin. Just a rumor. Hindi natin masabi. Pero etong partnership nila with the SCI Ventures Inc. and Kakaotalk Investments is a good step and good news that they are stepping in into Virtual Currencies already as we all know that foreign currencies are now in in demand.

It just means one thing, they are decided to use blockchain technology in their system to provide higher service they can offer to their customer.

“This is another milestone in our continuing pursuit to expand our horizon and make a significant impact as we enter the digital arena. With our robust 2,500 branch network and strong partnerships with key financial players such as SCI and KaKao Talk in place, we are ready to take advantage of our unique ‘bricktech’ set-up and make our mark in this space,”

Read more here.

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[rhomelmabini]

Or possible they will compete with coins.ph? It is just a possibility but I guess stepping to launch their own coin/token is a great step para sa isan remittance company. Nakakalungkot nga lang isipin na wala na sila sa available option to cash in/out sa coins.ph pero parang napaisip ata sila na this industry will keep on booming and will be adopted widely.

[ecnalubma]

I think they are planning something big, isa narin siguro yan sa mga dahilan kaya humilay sila sa coins.ph . Pero kung ano pa man yang plano nila makakabuti yan para sa blockchain or cryptocurrency industry dito sa bansa at para mapabilis rin ang pag proceso ng mga remittances.

[Theb]

Hmm, wala pang hints na crypto related nga ang gagawin ng joint venture na yan. Pero ang Kakaotalk sa pag-kaka alam ko meron na silang virtual wallet within the app parang yung WeChat ng China with WePay so baka ang integration na ito is just making Cebuana Lhuiller as an available mode for cash out. Ang Cebuana din ay partnered sa ibang remittance centers sa Pilipanas katulad ng LBC at Palawan so baka makita din natin yung mga company na ito kasama sa project nila.

[maxreish]

Or possible they will compete with coins.ph? It is just a possibility but I guess stepping to launch their own coin/token is a great step para sa isan remittance company. Nakakalungkot nga lang isipin na wala na sila sa available option to cash in/out sa coins.ph pero parang napaisip ata sila na this industry will keep on booming and will be adopted widely.

Yan din ang sa tingin ko. They are reconsidering cryptocurrencies because of it's popularity now. Many merchants are already accepting bitcoin as a payments. Hindi naman sila mag iinvest at kukuha ng stake sa SCI Ventures at Kakaotalk kung hindi sila magbebenefits. Anyway, sa pagkakaalam ko po ay ang tinanggal lang nila sa Cebuana ay ang cash out pero mayroon pang Cash in Correct me if i'm wrong.

[Question123]

I think they are planning something big, isa narin siguro yan sa mga dahilan kaya humilay sila sa coins.ph . Pero kung ano pa man yang plano nila makakabuti yan para sa blockchain or cryptocurrency industry dito sa bansa at para mapabilis rin ang pag proceso ng mga remittances.

Kaya pala wala nang cashout option na cebuna lhullier sa coins.ph ito pa naman ang gusto ko sa mga cashout option nila dahil madali lang. Pero may mga alternative na cashout option pa naman kaya okay lang. Kung saan mas gaganda siyempre doon tayo at sana maging maganda kalabasan nito para sa lahat ng mga cryptouser sa Pilipinas.