The Digital Dollar Project announced in a press release that it had completed a pilot study focusing on retail CBDCs, using a digital dollar in remittance payments to the Philippines.
DA5 is one of the leading authorized direct agents of Western Union in the Philippines, with established 1,800 location footprints across the country.
Western Union appears to be preparing to enter the digital asset sector by filing three trademark applications, joining competitors Mastercard, Visa, and PayPal.
MoneyGram has $878 million worth of debt and has been hit hard by the COVID-19 pandemic.
Western Union might say they are staying away from digital currencies, but there was a market too sweet not to tap in the Philippines, and Coins.ph was a willing partner to bring them in.
CEO Hikmet Ersek said Western Union customers are still overwhelmingly in favor of fiat currency.
