THELOGICALINDIAN - Japanese fintech aggregation Atom Solutions addled a affiliation with Philippine outsourced acquittal solutions aggregation Bayad Center to acquiesce Eternal Coin XEC users to pay their account bills with badge in the Philippines according to a columnist absolution aggregate with NewsBTC on Feb 8
The Atom Solutions Team
As appear by the columnist release, this will accredit across Filipino workers to abutment their families and pay their account bills with greater ease. This is one of the aboriginal moves fabricated by Atom Solutions to cede their Eternal Coin badge applied and advantageous in circadian life. Furthermore, the close additionally affairs to accredit Peer to Peer (P2P) lending on a committed belvedere employing the token.
There are XEC exchanges in three countries, namely the Philippines, Japan, and Hong Kong area users can appoint in absolute affairs 24/7 via smartphone or computer. Also, bisected of the transaction fees generated for bill payment, remittance, buy and advertise action on the arrangement are redistributed to XEC holders. On the abstruse side, this asset is hosted on a centralized ledger, not on a blockchain, which grants the aggregation the adeptness to about-face counterfeit transactions.
One of the company’s primary objectives is to bear a practical, crypto-based, all-embracing settlements service. At large, the aggregation is attempting to break the weakness of the accepted all-embracing settlements solutions by alms a remittance account that is both faster and cheaper to use.
Moreover, there is one above obstacle to developing a adjustment band-aid based on cryptocurrency which the aggregation is additionally aggravating to tackle: volatility. Because of the accepted amount fluctuations archetypal of cryptocurrencies, the amount of a remittance can alter abundantly over time.
The company’s band-aid to this botheration is what it calls the Equivalent Value Overseas Remittance Arrangement (EVOR). This system, according to Atom Solutions, can break this botheration by acceptance the sender to acquirement cryptocurrency with his bounded authorization bill and accelerate it anon to the receiver. The receiver’s wallet, on the added hand, could accept the money already in his bounded currency.
The fees of the remittance are reportedly 2 pesos (roughly $0.1) back the destination bill is the aforementioned as the bill which is actuality sent, and 5 pesos (about $0.26) back the destination bill is different.
This is potentially a way lower amount according to remittance prices calculator. The cheapest advantage to accelerate 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 beatific funds.
According to a address published in December 2018 by the apple bank, the all-around boilerplate recorded basal remittance amount added to 7.01 percent in the fourth division of aftermost year, back compared to the third division of 2018. Still, Asia is the best aggressive region, with an boilerplate remittance amount of 5.23 percent. The best big-ticket region, on the added hand, is Sub-Saharan Africa, with an boilerplate remittance amount agnate to 8.97 percent.
