The Philippines’ remittance market now has a faster, cheaper option through the use of the Lightning Network.
Customers in the U.K. and Europe can now use CoinCorner’s Send Globally feature to transfer funds to the Philippines after partnering with Pouch, a Lightning service provider based in the Southeast Asian country.
Send Globally utilizes the Lightning Network to convert one fiat currency into bitcoin, which is then sent over the Lightning Network to a receiving entity which converts the bitcoin into another fiat currency, effectively making global payments instant.