{"id":65676,"date":"2022-08-11T16:16:46","date_gmt":"2022-08-11T13:16:46","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=65676"},"modified":"2025-09-06T21:17:43","modified_gmt":"2025-09-06T18:17:43","slug":"stablecoins-based-remittance-and-payments-service-to-be-launched-in-the-philippines","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/stablecoins-based-remittance-and-payments-service-to-be-launched-in-the-philippines\/","title":{"rendered":"Stablecoins-based remittance and payments service to be launched in the Philippines"},"content":{"rendered":"

The Philippines-based Direct Agent 5 (DA5), which operates one of the country’s largest networks of money-transfer points, together with Broxus, will launch a service for transactions using stablecoins. The integration will run on the Everscale blockchain, ForkLog learned from project representatives.<\/p>\n

DA5 will issue a stablecoin pegged to the Philippine peso. Tokens can be transferred using QR codes. In addition, the project’s partners plan to open a network of crypto ATMs capable of exchanging stablecoins for the Philippine peso. The operation will be carried out by Everscash Bank, which is part of the Everscale DeFi Alliance.<\/p>\n

\"\u041d\u0430
Broxus founder Sergey Shashev (left) and DA5 chief executive Raymond Babst (right) sign a partnership agreement. Source: Broxus<\/figcaption><\/figure>\n
\n

“The partnership between DA5 and Everscale will change the approach to remittances in the Philippines. By leveraging blockchain we will finally offer Filipinos a safer way to send money at a fraction of the cost charged by local banks and traditional financial services for similar services. We are also proud to be the first company to roll out a nationwide network of ATMs \u2014 they will be deployed in more than 2,500 locations across our network by the end of the year,” said DA5 chief executive Raymond Babst.<\/p>\n<\/blockquote>\n

Broxus founder Sergey Shashev noted that Everscale is currently being considered in 11 countries as a basis for issuing CBDC<\/a>.<\/p>\n

In June 2022, popular Asian cryptocurrency exchanges KuCoin and Huobi carried out a listing<\/a> of the native Everscale token.<\/p>\n

In spring 2021, the Chinese blockchain platform BSN, added<\/a> support for Everscale, supported by authorities.<\/p>\n

Follow ForkLog’s Bitcoin news on our Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Philippines-based Direct Agent 5 (DA5), which operates one of the country’s largest networks of money-transfer points, together with Broxus, will launch a service for transactions using stablecoins.<\/p>\n","protected":false},"author":1,"featured_media":65677,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"3","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1777,435,807],"class_list":["post-65676","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-everscale","tag-philippines","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"3","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/65676","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=65676"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/65676\/revisions"}],"predecessor-version":[{"id":65678,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/65676\/revisions\/65678"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/65677"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=65676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=65676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=65676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}