[2014-7-3]TechinAsia . New remittance service aims at $24billion /year market

[qwerty555]

http://www.techinasia.com/send-home-wages-bitcoin-avoid-hefty-money-transfer-fees-reality/


The service targets the $24.7 billion market for remittances in the Philippines, which trails behind only China and India in volume. While this industry represents an additional and significant revenue opportunity for Coins.ph, its co-founder and CEO Ron Hose is also considering Filipinos working overseas – a large group of people dubbed overseas foreign workers (OFWs) – that SendMoney.ph may help.

Read more: Send home your wages using Bitcoin and avoid hefty money transfer fees? That’s now a reality http://www.techinasia.com/send-home-wages-bitcoin-avoid-hefty-money-transfer-fees-reality/

[Ron~Popeil]

http://www.techinasia.com/send-home-wages-bitcoin-avoid-hefty-money-transfer-fees-reality/


The service targets the $24.7 billion market for remittances in the Philippines, which trails behind only China and India in volume. While this industry represents an additional and significant revenue opportunity for Coins.ph, its co-founder and CEO Ron Hose is also considering Filipinos working overseas – a large group of people dubbed overseas foreign workers (OFWs) – that SendMoney.ph may help.

Read more: Send home your wages using Bitcoin and avoid hefty money transfer fees? That’s now a reality http://www.techinasia.com/send-home-wages-bitcoin-avoid-hefty-money-transfer-fees-reality/

This kind of stuff is great for the bit coin universe. The untapped market potential is huge. Not to mention bringing bit coin into second and third world countries as an alternative to the destructive currency of their governments.

[Brooker]

It's very great indeed. I've seen a few companies trying to get involved in the remittance market. It's an industry where bitcoin could really thrive.