Singapore-based remittance platform CoinPip has officially launched its crypto to fiat money system.
This would mean that CoinPip users would be able to use cryptocurrencies for remittances or mass payments (for example, salaries).
Countries that would be able to accept crypto payments and then convert them to fiat include most markets in the Southeast Asia region such as Indonesia, Singapore, Malaysia, Thailand, the Philippines, Vietnam, and Cambodia.
Depending on their location, registered CoinPip accounts can also buy and sell cryptocurrencies.
Other upgrades to CoinPip’s platform include additional security features and streamlined registration processes.
“The inclusion of cryptos into the payment system is ultimately geared towards bringing blockchain and digital currencies closer to the mainstream. These embody the CoinPip way of doing transfers — fast, easy, and affordable,” read an official CoinPip press release.
CoinPip is giving a special transfer rate of 0.1 per cent charge for all crypto to fiat transfers. The promotion period will run from November 12 to December 1, 2018.
CoinPip enables users from its 40 serviced countries to remit money to over 200 countries worldwide.
Image Credit: CoinPip