The partnership with Hong Kong-based Payssion will allow Coinify to expand its services and target a wider range of users in SouthEast Asia, Europe, Latin America, the Middle East and Africa by enabling all merchants of the online platform to accept bitcoins.
“Bitcoin is a revolution for the global payments space, making the payments easier and less costly. Bitcoin and blockchain currencies supplement our global payments method services well, as they can be very helpful for our clients to cover more countries and reach more people,” announced Payssion CEO Dong Liu.
Coinify will provide important payment infrastructure for Payssion and guide the merchants to accept 16 blockchain payment methods via its API.
“Coinify takes the worry of price fluctuations from us and our clients, so that we can focus on bringing better payment experience to our clients and they can accept Bitcoin payments just like any other local payment method,” added Liu.
Over the past few months, the firm has secured exclusive deals with Hong Kong-based financial brokerage HelloMarkets and smart asset technology provider Digix to help users in the Southeast Asia region to leverage Bitcoin in trading valuable assets.
“This new partnership means another building block in Coinify’s growing presence in the Southeast Asia. There are plenty of opportunities for Bitcoin to develop and grow in the area, and it seems to grow month by month,” stated Morten Bebe, Sales Manager at Coinify.
Coinify aims to maximize the potential of Bitcoin in the Southeast Asian market by substituting Bitcoin for major currencies, guide businesses to benefit from Bitcoin, and revolutionizing traditional forms of remittance with a new generation of Bitcoin-based decentralized payments.
Today, the SEA region has one of the highest remittance flows, with remittances to and from the Philippines and Vietnam accounting for more than half of the region. Furthermore, India and the Philippines are two of the largest remittance markets in the world.
“The top remittance corridors for SEA countries in 2014 are the US-Philippines, US-Vietnam, and UAE-Philippines routes. In terms of intra-region corridor, Malaysia—Indonesia was the largest route in 2014,” explains financial data provider Reportlinker.
In the upcoming months, Coinify will continue to increase their presence in the Southeast Asia region and revolutionize traditional means of payments.