HONG KONG: As online news resource cnLedger reported on Twitter June 25 quoting Chinese cryptocurrency news media, the company formerly known as AliPay developed and piloted its “first blockchain-based electronic wallet cross border remittance service” between Hong Kong and the Philippines.
The recipients were AliPayHK and GCash, a Filipino payment app which recently became compatible with AliPay.
“Using blockchain to achieve cross-border remittances is one of my most concerned projects in the past six months. Starting from Hong Kong, this service (AliPayHK) will be brought to the rest of the world in the future,” cnLedger quotes Ma as saying about the project.
The move signals a broad committal to Blockchain from e-commerce giant AliPay, and comes as Filipino remittances form the focus for an increasing number of remittance solutions using the technology.