HWGG partners with VCPI, provides Filipinos with alternative way for money transfer

Fresh from the XEM-PHP direct trading victory, Virtual Currency Philippines Inc (VCPI) continues its aggressive expansion this time with the inclusion of HWG Cash.

This after Malaysia-based investment holding and blockchain technology company HWGG Captal P.L.C. announced its partnership with VCPI, Digital News Asia reports.

By including HWGG Capital’s Labuan Financial Services Authority (LFSA) approved and regulated blockchain asset HWG Cash, Filipinos, especially those working abroad, can now have another option to safely send money at a relatively lower cost.

HWGG Capital CEO Gavin Lim expressed as much in an interview with Digital News Asia.

“By working with VCPI, Filipinos working overseas can use the infrastructures of and HwgPay wallet for sending money back home, which safer and lower in transaction costs, ” Lim said.

Lim also intimated his excitement over the partnership with VCPI. “This will show how blockchain techonology will impact the future of financial services, ” he said in an interview with Digital News Asia.

VCPI, for its part, reiterated its goal to make its BSP-licensed digital assets exchange platform VHCEx one of the leading virtual currency exchange platforms in the world.  “We firmly believe in ensuring the convenience and happiness of our customers by staying competitive, ” VCPI President Jenn Lim said in the same interview.

VHCEx remains to be one of the most used digital exchanges platforms, especially in Southeast Asia. This is because it has a listing of numerous cryptocurrencies mostly in circulation in said region. Just last week, VHCEx listed XEM-PHP as part of its coin offering.

This VCPI-HWGG partnership is said to be mutually beneficial. On one hand, VHCEx customers can gain access to all the potentials of HWG Cash including money management, purchase, and storage as well as HWGG’s main line of business of resorts, entertainment, and travel in Southeast Asia. On the other, HWGG can explore the Philippine market, giving Filipinos the option to convert digital assets to HWG cash minus the difficulty and expensive fees.

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Written by Lea Reyes

Lea Sicat Reyes is a freelance journalist based in Negros Oriental, Philippines. She has held various teaching and writing posts since 2005. Currently, she is a school administrator for a local middle school and is a columnist and editor for the Negros Chronicle.


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