Filipino Bank announces Remittance Platform in Japan With IBM

5 Months ago / News / Ecosystem

The Rizal Commercial Banking Corp (RCBC) in the Philippines, in collaboration with IBM and two Japanese Banks, is ready to launch a blockchain-based remittance platform. The initiative will utilize IBM’s blockchain pilot platform to facilitate the sending of money back home by Filipino citizens, who work in Japan. First Senior Vice President of RCBC, Manny T. Narciso, said in regards to the developments that they are partnering with two Japanese banks to use the technology in serving the OFWs in Japan. He added, “It will make remittance faster and cheaper for the OFWs in Japan as we will collect less [sic] fees”.