Sun. Mar 3rd, 2024

• CoinCorner has partnered with Pouch, a Lightning service provider based in the Philippines, to enable customers in the U.K. and Europe to use their Send Globally feature to transfer funds to the 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, making global payments instant.
• The partnership will allow for more than $2,412,600,000 (£2 billion) to be remitted from the U.K. and Europe to the Philippines each year.

CoinCorner, a cryptocurrency exchange and wallet provider, has recently partnered with Pouch, a Lightning service provider based in the Philippines, to enable customers in the U.K. and Europe to use their Send Globally feature to transfer funds to the country. This will help to facilitate the remittance of more than $2,412,600,000 (£2 billion) from the U.K. and Europe to the Philippines each year.

Send Globally utilizes the Lightning Network, which is a decentralized network of payment channels used to facilitate low-cost, instant transactions between two parties. The network enables one fiat currency to be converted into bitcoin, which is then sent over the Lightning Network to a receiving entity. This receiving entity then converts the bitcoin into another fiat currency, making global payments instant.

CoinCorner and Strike recently enabled users from Europe, the U.S. and the U.K. to send money quickly and at low cost to Ghana, Kenya and Nigeria through the Send Globally feature. This partnership with Pouch will now make it possible for customers in the U.K. and Europe to send funds to the Philippines. Ethan Rose, the CEO of Pouch, expressed excitement about this new partnership and the possibilities it will open up. He commented, “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.” Danny Scott, the CEO of CoinCorner, echoed these sentiments, adding, “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.”

Overall, this new partnership between CoinCorner and Pouch will make it much easier for customers in the U.K. and Europe to transfer funds to the Philippines. By utilizing the Lightning Network, customers will be able to enjoy the benefits of low-cost, instant payments. This will be a great opportunity to demonstrate the power of Bitcoin and the Lightning Network, while also serving to improve the financial well-being of many individuals in the Philippines.

By admin