NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Crypto Startup’s Partnership to Let Users Pay their Bills with Crypto in the Philippines

NewsBTC
NewsBTC
6 years ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Japanese fintech company Atom Solutions struck a partnership with Philippine outsourced payment solutions company Bayad Center to allow Eternal Coin (XEC) users to pay their utility bills with token in the Philippines, according to a press release shared with NewsBTC on Feb. 8.

atom

The Atom Solutions Team

As reported by the press release, this will enable overseas Filipino workers to support their families and pay their utility bills with greater ease. This is one of the first moves made by Atom Solutions to render their Eternal Coin token practical and useful in daily life. Furthermore, the firm also plans to enable Peer to Peer (P2P) lending on a dedicated platform employing the token.

There are XEC exchanges in three countries, namely the Philippines, Japan, and Hong Kong where users can engage in direct transactions 24/7 via smartphone or computer. Also, half of the transaction fees generated for bill payment, remittance, buy and sell activity on the network are redistributed to XEC holders. On the technical side, this asset is hosted on a centralized ledger, not on a blockchain, which grants the company the ability to reverse fraudulent transactions.

One of the company’s primary objectives is to deliver a practical, crypto-based, international settlements service. At large, the company is attempting to solve the weakness of the current international settlements solutions by offering a remittance service that is both faster and cheaper to use.

Moreover, there is one major obstacle to developing a settlement solution based on cryptocurrency which the company is also trying to tackle: volatility. Because of the usual price fluctuations typical of cryptocurrencies, the value of a remittance can vary greatly over time.

The company’s solution to this problem is what it calls the Equivalent Value Overseas Remittance System (EVOR). This system, according to Atom Solutions, can solve this problem by allowing the sender to purchase cryptocurrency with his local fiat currency and send it immediately to the receiver. The receiver’s wallet, on the other hand, could receive the money already in his local currency.

The fees of the remittance are reportedly 2 pesos (roughly $0.1) when the destination currency is the same as the currency which is being sent, and 5 pesos (about $0.26) when the destination currency is different.

This is potentially a way lower price according to remittance prices calculator. The cheapest option to send money from Japan to the Philippines, WorldRemit, costs about 1.53 percent of the value, while the second-cheapest option, Transferwise, costs 2.83 percent of the sent funds.

According to a report published in December 2018 by the world bank, the global average recorded minimal remittance cost increased to 7.01 percent in the fourth quarter of last year, when compared to the third quarter of 2018. Still, Asia is the most competitive region, with an average remittance cost of 5.23 percent. The most expensive region, on the other hand, is Sub-Saharan Africa, with an average remittance cost equivalent to 8.97 percent.

Tweet123Share196ShareSend
NewsBTC
NewsBTC

NewsBTC

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

SpacePay Is Solving the One Problem That Held Crypto Back for Years

SpacePay Is Solving the One Problem That Held Crypto Back for Years: Presale Is On

For a long time, crypto payments have been hard to use. They were supposed to be quick and easy, but...

ericdunne519 4 days ago
Why SpacePay Is the Go-To App for Hassle-Free Crypto Payments

Why SpacePay Is the Go-To App for Hassle-Free Crypto Payments

You’d think by now you could buy a latte with Bitcoin, but nope. It’s 2025, and we’ve had digital currencies...

ericdunne519 1 week ago

How Cryptomus Ensures Compliance: KYC & AML In Crypto Payments

Until recently, the crypto world was associated with anonymity and freedom from government control. But the popularity of Bitcoin and...

News BTC 1 week ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Why SpacePay Is Tipped to Be the Favorite Crypto Coin of 2025

Why SpacePay Is Tipped to Be the Favorite Crypto Coin of 2025

ericdunne519 12 hours ago

Jemlit vs Mystery Box World: Кой е “царят” на мистериозните кутии?

Nikolay Aleksiev 18 hours ago
SpacePay Takes the Lead

Best Crypto Presale in 2025: SpacePay Takes the Lead

ericdunne519 2 days ago

Premium Sponsors

Press Releases

  • Top kryptoměna ke koupi dříve, než vzroste o 2 200 %, podle Cathie Wood

    Top kryptoměna ke koupi dříve, než vzroste o 2 200 %...

    5 hours ago
  • The smartest way to make money in 2025: Invest in cloud...

    11 hours ago
  • Od Bitcoinu k BTC Bull: Kde leží skutečný potenciál?

    ...

    11 hours ago
  • Bitcoin vs. Gold: Which Is the Best Investment In 2025?

    12 hours ago
  • Profit of $5,735, senior trader uses Ripple (XRP) to open...

    12 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.