Sending Money to the Philippines

jed

Now that coins.asia is connected to Stellar it is quick and easy to pay out to anyone in the Philippines.

Here is how you do it:
1) get lumens
2) use getstargazer.com or Centaurus or some other Stellar wallet that supports multi-currency payments and federation.
3) Click Send
4) for the address enter to <phone number>*coins.asia or <email>*coins.asia where phone number or email is of the person in the Philippines to receive the money
5) select PHP as the receiving currency
6) You will be shown an exchange rate
7) Click ok
8) a few seconds later the person in the Philippines will get a text or an email telling them how to pick up the cash.

Your starting currency can be XLM or anything that has orders to XLM or EURT.

bkolobara

jed When you receive an email or sms, how easy is it to turn this into cash? Do you know the exact steps on the receiving side? Can this only be claimed in specific cities?

dzham

bkolobara

If you are already a client with coins.ph, it's a very simple procedure.
I have their app installed in my phone, and get notifications on all incoming transactions.
I see the notification, the funds are added to my balance, and then I can chose how to deal with it.
I can keep it within coins.ph, as PHP, or I can use one of their cash out mechanisms to send it to a bank account, withdraw at an ATM, pick up at a remittance center, etc..

Remittance shops/money transmitters are everywhere, since you have Filipinos working abroad sending money home, and people in the cities sending money to relatives in the country side. I probably have five-ten places less than a five minute walk from where I live.

AlMYap

How about the other way around? like someone from Philippines sending PHP asset to my Stellar wallet (I live in New York)

Can someone from there use Coins.ph and send PHP to my stellar address (the one with 56 characters)?

Would appreciate your answer

AllenCarloProndo

Hi anyone can help?

I wrongfully sent xlm directly to my coins.ph wallet address expecting it would automatically be converted into php

https://stellarchain.io/tx/b138d5276cf85792b509f583283f87225d8eb452c808c26614d7310ce12a5a41 (txid)

mokebolix

Liquidity looks pretty terrible for sending to philippines. In fact, there is 0 liquidity on the books right now. Jed, can you comment on Stellar's partnerships with these corporations. Surely you would require them to have some minimum level of service if you yourself are advertising these features.

inative

Couple months ago I was exploring the market making options with PHP-coins.asia. All my attempts to create offers failed on authorization. When I asked them what's wrong, some helpdesk person answered that it's "for accredited partners only" and to "stay tuned when it'll be open to the public". Nothing changed since that. I guess the single buy/sell offers in current XLM/PHP orderbook are placed directly by them.

Maybe somebody who knows more about their roadmap could cast some light on when common market-makers will be able to contribute liquidity to their orderbooks?