Coins.ph, a leading electronic money issuer (EMI) and licensed crypto and digital wallet platform in the Philippines, signed a memorandum of understanding (MOU) with Vietnam’s Best Way Corp. (FinFan) to streamline and expand cross-border remittance and payment flows between the two countries.
The agreement was finalized during the Singapore Fintech Festival.
Coins.ph said in a statement the strategic partnership aims to enhance remittance services for individuals and families, offering a faster, more transparent and cost-efficient solution.
The collaboration is set to promote financial inclusion and cross-border efficiency across Southeast Asia’s growing digital society, it said.
Under the MOU, Coins.ph will use its licensed infrastructure to independently manage the conversion of funds into US dollars.
These funds will then be sent as a standard international fiat remittance to FinFan’s account for local dollar disbursement in Vietnam.
FinFan is a trusted financial technology company licensed by the State Bank of Vietnam to provide legal international remittance services. Coins.ph is licensed by the Bangko Sentral ng Pilipinas as both a virtual currency exchange and an electronic money issuer.
Coins.ph chief executive Wei Zhou said the partnership “reflects our shared vision of making cross-border money transfers simpler and more inclusive through new technology.”
FinFan chief executive Tuyen Nguyen said they are bridging traditional finance and modern financial solutions to support international partners and remittance recipients across Vietnam and the Philippines.
The collaboration reinforces both companies’ commitment to innovation in the remittance sector, empowering users with a secure, compliant and scalable new-tech cross-border infrastructure.
This technology now accounts for about 23 percent of worldwide remittances. Industry estimates suggest a $250-billion new-technology-driven remittance volume for Asia by 2028.
The appeal of this new technology lies in its ability to facilitate transactions with unmatched speed, often in minutes 24/7, which is often cited as a greater benefit than even the significant cost-efficiency over legacy systems.
