Circle, the issuer of the USDC stablecoin, is partnering with a leading remittance provider in the Philippines to promote the use of USDC for cross-border payments. Historically, the USDT stablecoin has dominated emerging market payments and remittance. However, Circle's collaboration with the remittance provider will give USDC a solid entry into the emerging market payment and remittance market. This move aims to help people in Asia easily send cross-border payments, starting with a remittance initiative in the Philippines. Additionally, JPMorgan is also making progress with its DLT cross-border payment service.
JPMorgan continues to make inroads with its DLT cross-border payment service. https://t.co/YbSnv3hjHU
Historically emerging market payments and remittance have always been dominated by USDT but given https://t.co/lDzyw5srzF leading position as remittance provider in Philippines, USDC will have a solid entry into EM payment and remittance market. https://t.co/tbG6l4SL98
Global fintech firm Circle has teamed up with https://t.co/enOymrnocQ to promote the use of USDC for remittances in the Philippines. https://t.co/QTXBHAiJTo
JUST IN: According to a press-release, Circle will begin promoting USDC for money transfers in the 🇵🇭 Philippines.
🇵🇭USDC stablecoin issuer @Circle aims to help people in Asia easily send cross-border payments, starting with a remittance initiative in the Philippines. https://t.co/i1b5eohF2W