🇵🇭 How much of the 𝗨𝗦$𝟯𝟱.𝟲𝟯 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 in cash remittances to the Philippines is eroded each year by fees averaging 𝟱.𝟳𝟲%?
Our CEO, Sam Su and the Remi team recently visited the Philippines, engaging with Tier 1 banks, leading EMIs, and key payment providers.
One message echoed repeatedly: 𝗿𝗲𝗺𝗶𝘁𝘁𝗮𝗻𝗰𝗲𝘀 𝗳𝗼𝗿 𝗢𝘃𝗲𝗿𝘀𝗲𝗮𝘀 𝗙𝗶𝗹𝗶𝗽𝗶𝗻𝗼 𝗪𝗼𝗿𝗸𝗲𝗿𝘀 (𝗢𝗙𝗪𝘀) represent a flagship space where FIs are all actively focused on strengthening their capabilities and delivering better user experiences.
A significant portion of these inflows comes from key corridors across Asia, the Middle East, and Europe, corridors where Remi already has an active footprint and is scaling with partners. 𝗪𝗲 𝗮𝗿𝗲 𝘀𝗼𝗹𝘃𝗶𝗻𝗴 𝘁𝗵𝗲 𝗿𝗲𝗮𝗹 𝗽𝗮𝗶𝗻 𝗽𝗼𝗶𝗻𝘁𝘀 𝗼𝗳 𝗢𝗙𝗪𝘀, 𝘄𝗵𝗼 𝗰𝗮𝗿𝗲 𝗱𝗲𝗲𝗽𝗹𝘆 𝗮𝗯𝗼𝘂𝘁 𝘀𝗽𝗲𝗲𝗱, 𝗰𝗼𝘀𝘁, 𝗮𝗻𝗱 𝘁𝗿𝗮𝗻𝘀𝗽𝗮𝗿𝗲𝗻𝗰𝘆 𝗶𝗻 𝘁𝗵𝗲𝗶𝗿 𝗿𝗲𝗺𝗶𝘁𝘁𝗮𝗻𝗰𝗲𝘀.
Regulated stablecoins have the clear potential to shorten settlement cycles and reduce costs significantly, however, 𝗺𝗲𝗮𝗻𝗶𝗻𝗴𝗳𝘂𝗹 𝗮𝗱𝗼𝗽𝘁𝗶𝗼𝗻 𝘄𝗶𝗹𝗹 𝘂𝗹𝘁𝗶𝗺𝗮𝘁𝗲𝗹𝘆 𝘀𝘂𝗰𝗰𝗲𝗲𝗱 𝗼𝗻𝗹𝘆 𝗶𝗳 𝘁𝗵𝗲 𝗼𝗽𝗲𝗿𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗶𝗻𝗳𝗿𝗮𝘀𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲 𝗹𝗮𝘆𝗲𝗿 𝗶𝘀 𝘁𝗿𝘂𝗹𝘆 𝗯𝗮𝗻𝗸-𝗴𝗿𝗮𝗱𝗲. At Remi, this is exactly our solution: a robust, compliant digital infrastructure precisely engineered to address these challenges in the remittance space.
We welcome conversations with fellow builders and institutions active in remittances and cross-border payments. Feel free to reach out if you’d like to compare notes from the field.
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