is a mobile Bitcoin wallet tailored for the unbanked population in the Philippines

Year: 2013coins
Country: Philippines

  • was founded to use bitcoins as a means to provide cheaper and better financial services for millions of underbanked people in Asia.
  • To help the Filipino population that remains unbanked, proposes money transfers and bill-payment solutions based on a Bitcoin wallet. Thus, its mission is to accelerate financial inclusion in Southeast Asia thanks to Bitcoin blockchain technology and a mobile application.
  • By using the wallet, that money can be picked up at a retail store, or delivered door-to-door, or deposited into 24 different banks. No bank account is therefore needed.


  • Funding options: There are 4 ways to add funds to the account:
    • Send your Bitcoin from an external wallet to your Bitcoin Wallet
    • Place an “Add Money” order and drop the cash in retail store partners
    • Request for a payment from someone by sending a request form
    • Bank deposit
    • Online bank transfer
    • Remittance center (via DragonPay)
    • Earn rewards through missions and referrals
  • Payment options:
    • Cardless ATM Instant Payout (with CoinXpress)
    • Select any bank where you can conveniently get the cash
    • Turn my Bitcoin into cash
    • Other options (see here)
  • Business Model: It is a fee-based model. They charge a minimal fee of 1% (added to the Bitcoin price subtotal) to cover transaction costs on buy orders (more information here). However, they do not charge any transaction fees on cash-out orders.

Consumer Benefits

  • Inclusive: quick subscription, no minimum deposits, and no monthly fee.
  • User friendly:  the solution is fully mobile which allows anyone to access the service quickly with a simple smartphone.
  • Cheaper: the solution is more competitive than the local and traditional remittance banking services. Remitting using Bitcoin significantly lowers transaction fees.
  • Uber for banking: turns every Filipino with a mobile phone into an ATM.
  • No value fluctuations risk: the Peso Lock Wallet is  tied to a specific Peso value, using the current sell rate. As long as you keep your Bitcoin in your Peso Lock Wallet, you will be able to encash it for that amount.
  • Buy load: for any local network operator, you can buy load instantly. Moreover, you get 5% back on each load.

How To Use 

  • Placing an “Add Money” order
    • Create an “Add Money order” by choosing among different ways to cash-in (these options comprise 17,000+ locations nationwide).
    • Indicate the amount needed to cash in and where you want to deposit the money.
    • Make the deposit at the specified place.
    • The money is either received on the Peso Wallet, or on your Bitcoin Wallet.
  • Requesting for a Payment
    • Request a peer with his or her email address, mobile phone or Facebook account.
    • will send a payment to that person.
    • Once they’ve completed the form, the funds will be automatically credited to the Peso Wallet.
  • Sending Bitcoin from an external wallet
    • Choose your other Bitcoin wallet (ex. Coinbase, BitGo,
    • Send Bitcoin easily to your wallet simply by using your receiving address.
  • Earning rewards
    • You can earn both Peso and Bitcoin rewards by completing various missions and referring your friends to use


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