Crypto, Blockchain to Spur Philippine Remittance Market

A study by data provider Ken Research has found that the increasing popularity of digital currencies is expected to revolutionize mobile financial services in the Philippines by using cryptocurrencies, biometrics and wearable technologies.

The findings were contained in the study titled, Philippines Money Transfer and Bill Payment Market Outlook to 2023, which predicted that the volume of remittances in the country would reach $42 billion by 2023. It added that the expansion of financial inclusion in the country, as well as the banked population, is envisioned to offer opportunities for banks to raise their market penetration further moving forward.

“International remittance market in the Philippines will continue to be driven by increased migration of Filipinos to o…

This article appeared first on Cryptovest

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.