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The Philippines is in the spotlight of this week's crypto news: the Philippine e-wallet developer and provider Coins.ph has partnered with the largest American company in the field of financial services, Western Union, as was announced in a press release.
Due to a new partnership, Filipinos will be able to make cross-border remittances more efficiently. As part of the cooperation, Western Union integrates the Coins.ph blockchain platform into its cross-border platform, allowing users in the Philippines to receive and hold international money transfers directly into Coins.ph wallets.
New clients must register at Coins.ph, provide a valid ID, and proceed with the “know your customer” (KYC) rule. At this stage, Coins.ph will limit the capacity of the wallet to 100,000 Philippine pesos per month (about $1,907).