Blockchain-Powered Remittance Project REMIIT Proposes to Build an Eastern Union by 2020 With Philippines' Leading Remittance Company Bloom

SINGAPORE, December 28, 2018 (Newswire.com) -  Blockchain-powered remittance platform project REMIIT has partnered with the Philippines representative money transfer company Bloom Inc. on how to activate the REMIIT platform and conduct joint marketing.

Bloom is one of the BIG 3 companies in the Philippines remittance industry and has been operating the business in more than 10 different countries including South Korea, Hong Kong and Vietnam. The Philippines is a country with high barriers to financial services with only three out of five people having access to bank accounts. Not only have these people provided money-saving services in the Philippines to send and receive money safely, but they also are standing at the forefront of innovation using bitcoins to send money to many countries.

REMIIT has been looking into Bloom's experiences, know-how and networks in the Philippines and overseas remittance markets and is expected to be a bridgehead for exploring other Southeast Asian markets. REMIIT and Bloom decided to cooperate in various fields such as co-marketing for platform activation, business expansion and market exploration. Bloom will also be participating as REMIIT’s early platform testing partners. REMIIT, with the vision of providing a simplified, friendly and error-free remittance platform, shows strong ambitions in entering the US$650 billion remittance market.

REMIIT’s CEO Stevie An said, "Bloom is a trustworthy company and has never had a problem in the past two-and-a-half years with more than 100,000 remittance transactions to the Philippines, and Israel Keys is also an advisor to the project. Bloom will enter the platform and this will attract more money-transfer service providers from all over the world. We have established a stronger partnership through a token swap and will cooperate closely to promote REMIIT’s overseas remittance platform in the future."

Finally, An added, "By sharing our long-term vision with Bloom, we will strive to cooperate with each other to become the Eastern Union of Asia by 2020, based on a stronger partnership than before." The two companies that have been leading the practical implementation of blockchain technology have many people paying attention to what they have to bring next.

For more info, email [email protected].

Source: REMIIT