The Philippines is the 3rd largest remittance market in the world behind China and India, with a full 10% of its GDP coming from remittance payments. Satoshi Citadel Industries offers a way for individuals to send payments back to their families, without the standard 8-10% fee or the long wait time for people to receive their money–and with the average remittance size of $200, every penny and second counts.
Users are able to send remittances either directly by bitcoin through their website, and they have also partnered with several Korean companies to send remittance payments by changing Korean Won to Bitcoin, and then Bitcoin into Philippine Piso. Receivers are able to choose between having the funds deposited directly into a wallet built into the platform, or pick up their money in cash. SCI also helps facilitate the purchase of Bitcoin in The Philippines and allows users to store and convert their Bitcoin into fiat currency.
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