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"!! Hot NEWS -  Money transfers with Coins.ph and Stellar
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We’re excited to announce our collaboration with Stellar.org to further our mission of accelerating financial inclusion in Southeast Asia
Stellar.org  is a nonprofit organization that supports the Stellar network, a free, open-source network that connects diverse financial systems and lets anyone build low-cost financial services for their community. 
As a result, soon you will be able to send money to anyone in the Philippines to a Coins.ph wallet via an institution connected to the Stellar network.  

Quote:“Connecting Coins.ph to the Stellar remittance network will allow more Filipinos abroad to have fast, low cost access to remitting funds back home, something we are obviously very excited about.”
- Ron Hose, Co-Founder and CEO of Coins.ph 


Global Money Transfers
Additionally, Stellar today announced partnerships with three more financial institutions that will enable low-cost global money transfers to IndiaEurope and cross-border M-PESA payments to and from KenyaGhana and Nigeria. With one technical integration, these companies have expanded access and decreased costs considerably for their customers:
  • Flutterwave, a cutting-edge pan-African financial technology and services company, will use Stellar to support cross-border payments for M-Pesa, a mobile platform for money transfer and financial services. For the 21 million M-Pesa users who are limited to transacting in Kenya, this move will expand their ability to send payments regardless of whether they are based in Kenya, Ghana or Nigeria. 
  • ICICI Bank, India’s largest private sector bank, is integrating with the Stellar network to support money transfers internationally and within India. ICICI is planning to launch a pilot program on Stellar for cross-border payments without traditional wire fees. Additionally, ICICI is launching a mobile wallet application with a Stellar backend, which they will potentially roll out to their entire customer base. 
  • Tempo Money Transfer, a high-tech European licensed remittance provider headquartered in Paris, France, has integrated with the Stellar network. Starting today, people can send global remittances to Europe through Tempo, and to financial institutions, such as Coins.ph in the Philippines, which are connected to the Stellar network.

Soon these financial institutions will be able to transact with each other in 3-5 seconds, without the friction and barriers that contribute to higher fees. A key advantage of the Stellar network is that, with a single integration, financial institutions immediately gain access to all the other institutions on the Stellar network. For example, all the financial institutions on the Stellar network will be able to send money seamlessly to the Philippines through Coins.ph, to India through ICICIand from Europe through Tempo.  

Faster and Frictionless Remittances
The integration with Coins.ph is particularly noteworthy, since overseas Filipino workers around the world sent $26.92 billion back to the Philippines in 2015, making the Philippines the third largest remittance market in the world. In the developing world, a majority of the population is underbanked or unbanked and until now, those sending money to both of these countries were limited to traditional remittance services like Western Union or MoneyGram, which charges steep fees.
In Europe, people will be going online to Tempo’s website (www.tempo.eu.com), or offline to one of the hundreds of authorized Tempo agent locations in Europe to send money to anyone in the Philippines by using the recipient’s name and mobile phone number. Within seconds of the transfer, the recipient will receive an alert on their mobile phone and a Coins.ph account will automatically be created for them. The recipient will be able to claim funds out of their Coins.ph electronic wallet, or by transferring funds directly to their local bank account or by collecting cash at any of 22,000 retail locations across the Philippines, or even by using a card-less ATM withdrawal with special PIN code sent to them from Coins.ph

Quote:“Coins.ph, ICICI, Flutterwave and Tempo are leading the charge to make blockchain real and bringing the benefits of the software to market. While they made the decision to integrate with Stellar because of efficiency and cost, these partnerships bring us closer to our goal of making money move as easily as email. This is the start of achieving our mission of enabling a worldwide financial network that anyone can use.”
- Jed McCaleb, CTO of Stellar.org


About Stellar.org
Stellar.org is a Silicon Valley based nonprofit organization that supports the Stellar network, a free, open-source network that connects diverse financial systems and lets anyone build low-cost financial services—payments, savings, loans, insurance—for their community. The Stellar network enables money to move directly between people, companies and financial institutions as easily as email. This interconnectivity means more access for individuals, lower costs for banks, and more revenue for businesses.
About Coins.ph
Founded in 2014 by Silicon Valley entrepreneurs Ron Hose and Runar Petursson, Coins.ph is Southeast Asia’s leading blockchain-based payments platform that enables anyone, including those without bank accounts, to easily access financial services directly from their phone. UsingCoins.ph, customers have access to a mobile wallet and services such as remittances, airtime, bill payments, and online shopping at over 63,000 merchants who accept digital currency. Operating in the Philippines and Thailand, Coins.ph’s mission is to increase financial inclusion by delivering financial services directly to people through their mobile phones.

About Flutterwave
Flutterwave is a platform as a service for processing any method of payment across African countries. We enable hundreds of millions of dollars in payments across Credit and Debit Cards, Bank Accounts (ACH) and Mobile Money payments for Global Merchants and Pan-African Financial Institutions looking to build cross-border acquiring and disbursement capability across Africa. Flutterwave is a YCombinator company backed by some of Silicon Valley’s most influential investors including Greenvisor Capital, Greycroft, Khosla Impact Ventures, Social Capital Partnership, Western Technology Investments, Omidyar Network, and VC Fintech Accelerator (powered by Fidelity National Information Systems) among others.
About ICICI Bank Ltd
ICICI Bank Ltd (NYSE:IBN) is India’s largest private sector bank with consolidated total assets of US $138.67 billion at March 31, 2016. ICICI Bank’s subsidiaries include India’s leading private sector insurance companies, securities brokerage firms, mutual funds and private equity firms. ICICI Bank’s presence currently spans 17 countries, including India.
About Tempo
Tempo Money Transfer is a technology-driven international payment services provider headquartered in Paris, France, offering both online and offline remittances to more than 100 countries across the globe.  Partnered with numerous local banks and with an extensive authorized agent network in Europe, Tempo is enjoying rapid growth.
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