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• CoinCorner, a cryptocurrency exchange, has partnered with Pouch, a Lightning service provider based in the Philippines, to enable customers in the U.K. and Europe to transfer funds to the Philippines.
• The Send Globally feature of CoinCorner utilizes the Lightning Network to convert one fiat currency into bitcoin and then send it over the Lightning Network to be converted into another fiat currency, making global payments instant.
• This partnership allows for an efficient and low cost option for users to send money across borders and is estimated to save more than $2 billion annually in remittances from the U.K. and Europe to the Philippines.

CoinCorner, a cryptocurrency exchange, has recently announced a new partnership with Pouch, a Lightning service provider based in the Philippines. This partnership allows for customers in the U.K. and Europe to transfer funds to the Philippines using CoinCorner’s Send Globally feature, which utilizes the Lightning Network for fast and low cost international payments.

The Send Globally feature of CoinCorner uses the Lightning Network to convert one fiat currency into bitcoin and then send it over the Lightning Network to be converted into another fiat currency, making global payments instant. This is a major benefit for users as it saves time and money when making international payments. This feature was recently enacted for both CoinCorner and Strike through partnerships with Bitnob, allowing users from Europe, the U.S. and the U.K. to send money quickly and at low cost to Ghana, Kenya and Nigeria. The Philippines is yet another remittance market that now has access to Bitcoin’s Lightning Network.

The CEO of CoinCorner, Danny Scott, spoke about this new partnership and the potential savings it could bring to the Philippines. He said, “We’re excited to announce our latest partnership with Pouch and expand our Send Globally service to the Philippines. Every year, more than $2,412,600,000 (£2 billion) is remitted from the U.K. and Europe to the Philippines, so this is another great opportunity to demonstrate the power of Bitcoin, with instant and low cost transactions via the Lightning Network.”

The CEO of Pouch, Ethan Rose, also expressed his excitement about the partnership and the benefit it will bring to the Philippines. He said, “The Lightning Network is the most efficient way to send money across borders, but until now the user experience has been too complex for the average user. We’re so pleased to announce the partnership between Pouch & CoinCorner, because it allows us to drastically simplify a remitter’s user experience while still taking full advantage of the utility of Lightning.”

It is estimated that this new partnership between CoinCorner and Pouch will save more than $2 billion annually in remittances from the U.K. and Europe to the Philippines. The Lightning Network allows for users to make international payments quickly and at low cost, making it an ideal solution for people who need to send money home from abroad. This new partnership will make it even easier for users to take advantage of the Lightning Network, and is sure to be a major benefit for people in the Philippines.

By admin