Bitcoin remittances ’20 percent’ of South Korea-Philippines corridor

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Bitcoin adoption within a general remittance marketplace is starting to uncover a initial genuine signs of life. According to a owner and CTO of BloomSolutions, Luis Buenaventura, bitcoin powered remittances now comment for 20% of a Asian remittance mezzanine between South Korea and a Philippines. “$35-40M a year is bitcoin, substantially some-more than that,” he told BNC during an interview. According to a universe bank, US$215 million upheld by a mezzanine final year.

– Luis Buenaventura, Founder and CTO, BloomSolutions, Inc.

BloomSolutions’ flagship product is a sell height leveraging bitcoin for cheaper general remittance. The business indication has fast turn a nascent niche remuneration sector, and there are several companies opposed for a cube of a new marketplace in a Philippines. Payphil, Sentbe, and SCI’s Rebit all contest directly with BloomSolution, while determined bitcoin sell businesses in a area, like Korbit and Coinplug, are also active in a market.

Korbits CEO and Founder, Tony Lyu, has seen clever direct for cross-border


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