Circle Collaborates With Philippines Exchange To Promote USDC Remittances
Portfolio Pulse from Khyathi Dalal
Circle Internet Financial, the issuer of USDC, has partnered with Coins.ph, a leading cryptocurrency exchange and digital wallet provider in the Philippines, to promote USDC-denominated remittances. The partnership aims to provide a secure, low-cost, and almost-instant solution for international money transfers. Coins.ph has 18 million Filipino users. The Philippines is the fourth largest recipient of remittances in the world, with remittances forming a major contributor to the country's economy.
October 11, 2023 | 9:48 pm
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PayPal, a competitor of Circle, may face increased competition as Circle expands its partnerships and promotes its USDC stablecoin for remittances.
As Circle expands its partnerships and promotes its USDC stablecoin for remittances, it could pose a threat to PayPal's market share in the remittance sector. This could potentially have a negative impact on PayPal's stock in the short term.
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