BCRemit, a Filipino-led digital remittance company, says it has processed more than $1 billion in transactions since its founding in 2016. The milestone comes as the company marks its 10th anniversary and prepares to widen its services beyond retail money transfers. Manila Standard reported that the platform has handled more than one million transactions across its network. Founded by overseas-worker father and son Oliver and Jose Angelo Calma, BCRemit says its products were shaped by the cost and delays that families often face when sending money home.
The company usesblockchain technology and US-dollar stablecoinsto support cross-border transfers. BCRemit said its average transaction cost is about 1 percent, compared with a global remittance-cost average of 6.4 percent cited in the report. It operates in 24 countries and promotes near-instant transfers, contrasting that experience with the three-to-five-day processing times associated with some traditional banking channels. The claims describe BCRemit’s stated operating model and should not be read as an independent audit of transaction speed or pricing.
For users sending money to the Philippines, BCRemit supports transfers to local bank accounts, cash-pickup outlets and e-wallets including GCash and Maya. Its BCRemit Pay service also supports payments for government obligations such as SSS and Pag-IBIG contributions and loan repayments, along with property bills and mobile top-ups. These features position the company as more than a remittance rail, although availability, fees and eligibility can vary by destination, payment method and corridor.
BCRemit is now developing payment services forsmall and medium-sized businesses, BPO firms and freelancers. It plans to offer white-label payout integrations to third-party financial institutions and has identified Saudi Arabia, Australia, Japan and South Korea as priority expansion markets. The company also aims to serve more than 10.8 million overseas Filipinos. Those plans could broaden the platform’s role in enterprise payments, but the report does not state that every planned corridor or integration is already live.
