The Philippines remain a key area for Bitcoin in terms of taking on the remittance market. Coins.ph, one of the major Bitcoin services companies operating in this market, launched a mobile application called Teller. In doing so, the company can now offer its services to Indonesia and Thailand as well.
Teller – A Peer-to-peer Approach to Bitcoin And its Use Cases
It is no secret that Bitcoin is a far superior way of transferring funds all across the world in terms of remittance. Services such as Western Union are far too expensive for both the sender and the recipient, whereas Bitcoin transactions only invoke a minute transaction fee. This had lead a “remittance arms race” to focus on countries such as the Philippines.