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Cointext: crypto payments via SMS also in the Philippines
Cointext: crypto payments via SMS also in the Philippines
Crypto

Cointext: crypto payments via SMS also in the Philippines

By Fabio Lugano - 3 Jan 2019

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Cointext has announced the launch of its crypto payment service via SMS in the Philippines.

Cointext allows users to transfer Bitcoin Cash without any data service, only with simple, old-fashioned SMS, so it is very suitable for those who are travelling or for areas where data coverage is not optimal.

The service directly connects telephone numbers to BCH wallets using an access point, all done on the blockchain which connects the two services.

For this reason, the transfer is safe and cannot be hacked.

To start using it, simply send a message to a telephone number previously connected to a BCH wallet.

The service is useful in countries where data coverage is not homogeneous or where the population, perhaps due to age, economic or cultural restrictions, is not very open to the adoption of smartphones: in fact, even an old mobile phone can be used to access the service.

At the same time, however, the operator cannot fail to comply with national regulations for financial transfers.

A part from legal problems, Cointext does not require registrations, exchanges, complex KYC procedures or storing private keys.

With the addition of the Philippines, the service is now active in 39 countries including Ukraine, Turkey, Hong Kong, Israel, the Palestinian Territories and even Italy, where it is very useful for remittances towards countries with poor banking systems.

Founder and CTO Vin Armani said, commenting on the expansion:

“The ability to send value over SMS is tailor-made for The Philippines. Remittances are a big part of the economy and Filipinos are already big adopters of cryptocurrency, especially Bitcoin Cash”.

 

Fabio Lugano
Fabio Lugano

Graduated with honors from Bocconi University, Fabio is a consultant for companies and wounded shareholders of the Banche Venete. He is also the author of "Scenari Economici", and lecturer and analyst of cryptocurrencies since 2016.

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