Fasset partners with Coins.ph to launch “Pinoy Send,” enabling Filipino expatriates in the UAE to send up to ₱ 50,000 to the Philippines within seconds.
What’s the significance: Coins.ph said the partnership will provide overseas Filipino workers in the UAE a fast, secure, and affordable way to support and send money to their families.
Key details:
- Fasset, a Dubai-based fintech startup, partnered with Coins.ph to introduce “Pinoy Send.”
- The companies stated that the initiative aims to empower OFWs by providing them with accessible financial tools to support their families and invest in their future.
- It was launched on November 4th, 2024, the service allows Fasset users in the UAE to send up to ₱50,000 to the Philippines in just 5 to 7 seconds.
- The firms highlighted that Pinoy Send offers zero fees, competitive exchange rates, and rapid delivery.
Exclusive promotion: Fasset and Coins.ph are offering a promo until November 15th.
- Users who apply the code ‘KABAYAN5’ during registration will receive a 5% cashback on their first transaction, up to AED 25.
How It Works:
- Download the Fasset app.
- Use the code KABAYAN5 at registration.
- Complete verification.
- Deposit AED.
- Access Pinoy Send and add an end user.
- Send money.
Key quote:
“With Pinoy Send, we are addressing the real needs of Filipino expatriates who seek to support their families back home. We are committed to offering a seamless cost-effective solution that ensures their hard-earned money reaches its destination quickly and safely. This initiative reflects our dedication to empowering individuals and strengthening communities through accessible financial services.”
Umair Javed, Chief Business Officer, Fasset
What is Fasset: Fasset is a Dubai-based fintech startup focused on enabling secure global investments, having raised $26.7 million in funding and being granted a VASP license by Dubai’s Virtual Asset Regulatory Authority (VARA).
Wei Zhou, CEO of Coins.phstated that Pinoy Send makes it easier and more affordable for Filipinos in the UAE to support their families in the Philippines, addressing the high demand in the UAE-Philippines corridor, especially during the holiday season.
The bottom line: As the OFW community grows, efficient remittance solutions are needed and “Pinoy Send” by Fasset and Coins.ph addresses this by using blockchain for faster, more affordable transfers.
Worth reading: Last month, Coins.ph partnered with Mastercard and the Stellar Development Foundation to integrate Mastercard’s Crypto Credential solution into the Stellar blockchain, aiming to make cross-border crypto remittances faster, cheaper, and more secure, particularly for the Philippines.
This article is published on BitPinas: Fasset, Coins.ph Launch ‘Pinoy Send’ for Fast Remittances
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