Published on September 15th, 2015 | by bitcoin0
Bitcoin Solutions by Rebit Aims at the Two Billion Dollar Trade from Canada to the Philippines
Filipino workers spend around USD$2 billion in transaction and conversion fees when sending money back to their families.
The company is seeking to get a significant share of the Philippines-to-Canada remittance market and process as many remittance payments as possible using Bitcoin technology.
Speaking to Bitcoin Magazine, Satoshi Citadel Industries CEO John Bailon explained:
“We’re aiming high.
The timing is right, and with partners like ZipZap, building the open remittance network on top of the blockchain is now a reality.
“Because we use Bitcoin at Rebit, we’re open to receive transactions from any individual or company, effectively an open network for remittances,” explained Bailon.