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Coins.ph Teams Up with OK Remit to Enable Low-Cost Remittances from Japan to the Philippines via RippleNet
Today, Asian Net Co., Ltd., a money transfer company in Japan operating under the brand name of OK Remit, and Coins.ph, one of the top mobile wallet service providers in the Philippines, jointly launched the On-Demand Liquidity (ODL) service on RippleNet – Ripple’s global payments network. Ripple is the leader in enterprise blockchain and cryptocurrency solutions.

The partnership – established through SBI Ripple Asia, a joint venture between SBI Holdings and Ripple – will enable OK Remit to connect with Coins.ph and the digital asset trading platform, SBI VC Trade via RippleNet, for instant and low cost cross-border payments from Japan to the Philippines. ODL leverages the digital currency XRP as a bridge between two fiat currencies, which eliminates the need to prefund in a destination market, thereby lowering operating expenses, freeing up capital, and accelerating the growth of their payments businesses.

The Philippines ranks 3rd in foreign working population in Japan. As of October 2021, remittances from Japan to the Philippines totaled an approximate US$1.6 billion. With the introduction of ODL, OK Remit strives to provide top-class services and stay true to their motto of ‘Speed and Safety’. President of OK Remit, Shujen Higashida said, “We are pleased to be working with Coins.ph and Ripple to bring crypto-asset technology to our international money transfer service. As travel restrictions have relaxed since the beginning of 2022, we want people who come to Japan to have a fast and affordable way to send money back home. OK Remit is committed to further expand our relationship with RippleNet and hopes to be able to offer similar services in other countries,“

Jayson Mandal, International Department Manager of Asian Net Co., Ltd added: “Our partnership with Coins.ph to launch RippleNet's ODL service in Japan is a significant accomplishment, and is a key factor in reaching and penetrating the Filipino market - one of our biggest markets. We constantly look at incorporating innovative technologies to address the needs of foreign residents in Japan and to meet a high level of customer satisfaction.“

Through partnerships with forward-thinking businesses like OK Remit and Coins.ph, RippleNet is poised for explosive growth in the APAC region, with ODL volume totaling over US$1 billion in Q1 alone.

About OK Remit
OK Remit, and its brand holder Asian Net was licensed by the Kanto Regional Financial Bureau on November 21, 2017. As a money transfer company, OK Remit is committed to offer global standards of security and compliance to international laws. OK Remit aims to provide the millions of people residing in both Japan and other regions a link through their services.

About Ripple
Ripple is a crypto solutions company that transforms how the world moves, manages and tokenizes value. Ripple’s business solutions are faster, more transparent, and more cost effective – solving inefficiencies that have long defined the status quo. And together with partners and the larger developer community, we identify use cases where crypto technology will inspire new business models and create opportunity for more people. With every solution, we’re realizing a more sustainable global economy and planet - increasing access to inclusive and scalable financial systems while leveraging carbon neutral blockchain technology and a green digital asset, XRP. This is how we deliver on our mission to build crypto solutions for a world without economic borders.

About Coins.ph
Launched in 2014, Coins.ph is the most established brand in the Philippines and has more than 16 million users. Through the easy-to-use mobile app, users can buy and sell a variety of cryptocurrencies and access a wide range of financial services. Coins.ph is fully regulated by the Banko Sentral ng Pilipinas and is the first crypto-based company in Asia to hold both Virtual Currency and Electronic Money Issuer licenses from the central Bank. For further information, contact marketing@coins.ph

For more information about Coins.ph, visit https;//coins.ph and follow us on Facebook, Twitter, and Instagram.


ATM (via Cash Deposit)

You can send funds by depositing cash at your nearest ATM by using the designated OK Remit send card which will be provided to you by OK Remit. You may also use Japan Post Bank ATMs

Internet Banking (via Account Transfer)

You can also send funds by Account Transfer through OK Remit's issued account number.


Bank Account (via Account Transfer)

Your beneficiary can receive the sent funds through their registered bank account.

Cash Pickup (via authorized payout locations)

Your beneficiary can receive the sent funds by over-the-counter at authorized OK Remit payout locations.

Home Delivery Transaction (For selected countries only)

In some countries in which home delivery option is available, your beneficiary will be asked to present a transaction number and a legal Identification Document to confirm the itdentity of the receiver prior to releasing the sent funds.

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Maximum Remittance Limit
Limit per transaction 1,000,000 JPY
Twice per Day
Monthly maximum limit 2,000,000 JPY
Annual maximum limit 5,000,000 JPY
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