Broxus, a leading developer of Everscale infrastructure, has announced the upcoming release of a Philippine blockchain remittance service that will be hosted on the Everscale network. Everscale, as the most scalable blockchain in existence, has the unique ability to support such a large user base without the load slowing down the network or increasing transaction costs.
The service is the result of a new partnership between Broxus and DA5, one of the Philippines’ largest money transfer services, and marks the first step in Everscale’s planned rollout of a plethora of products and platforms. tailored to Filipino and Asian audiences, including local crypto ATMs.
Since the beginning of 2022, Everscale has made significant inroads into the Asian digital currency market. In the spring of this year, the network hosted the EVERPOINT conference in Bali, celebrating its second anniversary and recognizing its ascendant position in the Asian market. On the heels of this conference, the network’s native EVER currency was listed on two of the world’s largest exchanges, Huobi and KuCoin, each with massive user bases in Asia.
Everscale has an unrivaled technical foundation that allows it to scale to any network load, regardless of size, without the load affecting network processing times or transaction costs. As it is the fastest blockchain that exists today and among the cheapest, with fractional transaction fees, Everscale is the ideal blockchain to launch stablecoins, both for private companies and governments, in the form of CBDC.
The Everscale network has built a sizable community, largely due to its technical advantages and the elite DeFi offerings available in its ecosystem. The Broxus development team has played a key role in building this ecosystem and launching its core platforms. Broxus’ flagship platforms and products include Octus Bridge, a cross-chain bridge platform that allows users to transfer liquidity to and from nearly all major blockchain networks quickly and at fractional costs, and FlatQube DEX , which in addition to swaps provides users with a number of yield farming and staking opportunities and EVER Wallet, Everscale’s most popular wallet that facilitates the use of all platforms in the ecosystem.
Now, the possibilities inherent in the network are crystallizing in the form of a new stage of releases aimed at the Philippine and Asian markets. The campaign was made possible through a partnership with DA5, one of the largest money transfer services in the Philippines. DA5 has been operating in the Philippines for over 15 years as one of Western Union’s leading Authorized Direct Agents. DA5 has led the borderless payments revolution in the country, and with this partnership, has its sights set on a new dawn of economic opportunity for Filipinos, through the benefits of digital currencies and DeFi.
The first rollout of the campaign will be the release of Everscale’s new stablecoin pegged to the Philippine peso. The Philippine economy is one of the most formidable in the world and inextricably linked to global finance. Despite this, it has been significantly underserved in terms of digital finance offers. After the release of the stablecoin, users in the Philippines will be able to exchange fiat directly for its digital counterpart at low fees and gain direct entry into the many opportunities and benefits of DeFi.
Once the stablecoin launches, a full rollout of crypto and DeFi products and platforms will follow, including support for QR-based transactions. One of the biggest releases to follow will be the introduction of crypto ATMs, where users can exchange fiat for digital currencies and vice versa.
ATMs will be made possible by the experts at ATM Direct. Direct ATMis the software and hardware division of Evercash Banka fintech company focused on creating a seamless crypto-fiat gateway for international cryptocurrency integrations, and a founding partner of the Everscale DeFi Alliance.
The DA5 team, with CEO, CTO and Founder of Broxus
Reached to comment on the launch of the peso-pegged stablecoin, DA5 CEO Raymond Babst said, “The partnership between DA5 and Everscale will redefine the way traditional remittances are conducted in the Philippines. Through the use of cutting-edge blockchain technology, DA5 will finally be able to offer Filipinos a safer way to send money to the Philippines at a fraction of the cost of what banks and corporations traditional money transfer services currently charge. We are also excited to be the first to offer nationwide Crypto ATMs to complement our more than 2,500 branch network locations across the country by the end of the year.”
When releasing the stablecoin and Everscale’s future plans in the region, ATMDirect CEO Alex Shternshis said, “ATMDirect will launch a network of ATMs in the Philippines to support adoption of the new Crypto Peso. Our company will provide both withdrawal and deposit services on our own ATM network as well as integration services with existing ATM networks in the Philippines.This will provide long-awaited new opportunities for residents of the region. .
DA5 CEO Raymond Blast and Broxus Founder Sergey Shashev officially establish partnership
Everscale’s technological superiority has led it to join the ranks of Asia’s largest blockchains, and it seeks to further cement its position by developing localized ecosystems in a number of Asian and other countries. Representatives of the network will deliver keynote speeches at the Global Blockchain Summit to be held in October this year. Looking ahead to the event, Everscale will continue to roll out and grow its Asian and Philippine offerings.
Commenting on Everscale’s future plans, Sergey Shashev, Founder of Broxus, said, “The Everscale network has the most advanced technology of any existing blockchain and is therefore capable of bringing unprecedented efficiency to flows. exchanges of capital and goods for all the countries concerned. That’s why 11 states are considering Everscale’s technology as the basis for their CBDCs.
Founded in 2006, Direct Agent 5, Inc. is a company created to serve the needs of overseas foreign workers (OFW) in partnership with well-established companies primarily engaged in the following businesses: pawnshops, money exchange , shopping malls and grocery stores. The company has achieved synergy across its holdings by combining the locational strength of its own diverse networks with the vast customer base of international and local money transfer companies. On November 27, 2006, the company processed its first international money transfer service transaction.
On December 15, 2021, DA5 signed an agreement with Impero Consortium Management Corporation, becoming the Technical Due Diligence Partner serving the “OBFTS (Offshore Blockchain and Fintech Solutions) Group” of the Freeport Area of Bataan Authority (AFAB). ) in the Phillippines. DA5 is a pioneer in promoting blockchain technology throughout the ASEAN region. This comes in support of the government’s efforts to make the Philippines a safe haven for blockchain companies that are engaged in business development such as tokenization and alternative finance.
Over the years, the company has launched new products and services for existing and potential partners. The DA5 family continues to strive to provide worthwhile services in the hope of a self-reliant Filipino community.
Everscale is a new and unique blockchain design that features a scalable decentralized world computer combined with a distributed operating system. Everscale is based on a platform called Ever OS, capable of processing millions of transactions per second, with full Turing smart contracts and decentralized user interfaces.
Everscale introduces new and unique properties, such as dynamic multithreading, loose majority consensus, and distributed programming, that allow it to be scalable, fast, and secure at the same time. It is governed by a decentralized community based on meritocratic principles via the loose majority voting protocol.
Everscale has powerful development tools, such as compilers for Solidity and C++, SDKs and APIs, client libraries ported to over 20 languages and platforms, and a range of browsers and decentralized wallets enabling many applications in the DeFi, NFT, tokenization and governance domains. .
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