Everscale teams up with DA5 to launch Philippine blockchain transfer service
Broxus, a leading Everscale infrastructure developer, has announced the upcoming release of a Philippine blockchain transfer service to be hosted on the Everscale network. As the most scalable blockchain in existence, Everscale has the unique ability to take on such a broad 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 multitude of products and platforms tailored for the Filipino and Asian audience, including local crypto ATMs.
Since the start of 2022, Everscale has made significant inroads into the Asian digital currency market. This spring, the network hosted the EVERPOINT conference in Bali, celebrating its second anniversary and recognizing its forward-looking position in the Asian market. On the heels of that conference, the network’s original EVER currency was listed on two of the largest exchanges in the world, Huobi and KuCoin, each with huge user bases in Asia.
Everscale has an unparalleled technical foundation that allows it to scale to any network load, regardless of size, without affecting network processing times or transaction fees. Being the fastest blockchain currently in existence and among the cheapest, with fractional transaction fees, Everscale is the ideal blockchain to launch stablecoins, both for private businesses and governments, in the form of CBDCs.
The Everscale network has built a significant community, thanks in large part to its technical advantages and the elite DeFi offerings available in the ecosystem. The Broxus development team has been key in building that ecosystem and launching its lynchpin platforms. Broxus’ flagship platforms and products include Octus Bridge, a cross-chain bridging platform that allows users to transfer liquidity to and from almost all major blockchain networks quickly and at fractional costs, and FlatQube DEX, which in addition to swaps, provides users with a number of dividend farming and staking opportunities and EVER Wallet, Everscale’s most popular wallet that facilitates the use of all platforms in the ecosystem.
Now the opportunities inherent in the network are crystallizing in the form of a new phase of releases aimed at the Philippine and Asian markets. The campaign is made possible thanks to a collaboration 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 the leading authorized direct agents of Western Union. DA5 has spearheaded the borderless payments revolution in the country, and with this partnership has its eyes set on a new dawn of financial opportunity for Filipinos, thanks to the benefits of digital currencies and DeFi.
The first launch 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 markedly underserved when it comes to digital financial offerings. After the release of stablecoin, users in the Philippines will be able to exchange fiat directly with their digital counterpart at low rates and get a direct grip on the many possibilities and benefits of DeFi.
Once the stablecoin is launched, a full rollout of crypto and DeFi products and platforms will follow, including QR-based transaction support. One of the most significant releases to follow will be the introduction of crypto ATMs, where users can exchange fiat for digital currencies and vice versa.
The ATMs will be made possible by the experts from ATM Direct. ATM directlyis the software and hardware division of Evercash Banka fintech company focused on building a seamless crypto-fiat gateway for international cryptocurrency integrations, and a founder of the Everscale DeFi Alliance.
The DA5 team, along with the CEO, CTO and founder of Broxus
Now for comment on the launch of the Peso-linked stablecoin, DA5 CEO Raymond Babst said: “The collaboration between DA5 and Everscale will redefine the way traditional money transfers will be done in the Philippines. Using cutting-edge blockchain technology, DA5 will finally be able to offer Filipinos a more secure way to send money to the Philippines at a fraction of the cost of what banks and traditional money transfer companies currently charge.We are also excited to be the first to offer crypto ATMs nationwide to complement our more than 2,500 branch network locations nationwide by the end of the year.
On the release of the stablecoin and Everscale’s future plans in the region, ATMDirect CEO Alex Shternshis had this to say: “ATMDirect will start an ATM network in the Philippines to support the adoption of the newly launched Crypto Peso. Our company will offer 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 new and long-awaited opportunities for the residents of the area.”
DA5 CEO Raymond Blast and Broxus founder Sergey Shashev officially establish a partnership
Everscale’s technological superiority has made it join the ranks of the largest blockchains in Asia, and it wants to further strengthen 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. Ahead of the event, Everscale will continue to roll out and develop its Asian and Philippine offerings.
Sergey Shashev, founder of Broxus, comments on Everscale’s future plans: “The Everscale network has the most advanced technology of any blockchain in existence and is therefore able to bring unprecedented efficiency to interstate capital and commodity flows for all countries involved. This is why that 11 states are considering Everscale’s technology as the basis for their CBDC.
About DA5
Founded in 2006, Direct Agent 5, Inc. is a company established to cater to overseas foreign workers (OFW’s) partnering with well-established companies primarily engaged in the following businesses: pawn shops, money exchanges, shopping malls and grocery stores. The company achieved synergy throughout its portfolio by pairing the locational strength of its own diversified network with the expansive clientele of international and local remittance companies. On 27 November 2006, the company processed its first international money transfer service.
Last December 15, 2021, DA5 signed an agreement with Impero Consortium Management Corporation to become the technical due diligence partner serving “The OBFTS (Offshore Blockchain and Fintech Solutions) Group” in the Authority Freeport Area of Bataan (AFAB) in the Philippines . DA5 is pioneering the promotion of blockchain technology throughout the ASEAN region. This is in support of the government’s push to make the Philippines a safe haven for blockchain companies engaged in business development such as tokenization and alternative financing.
Over the years, the company has launched new products and services for existing and potential partners. The DA5 the family continues to strive to provide valuable services in hopes of a strengthened Filipino society.
About Everscale
Everscale is a new and unique blockchain design that proposes a scalable decentralized world computer along with a distributed operating system. Everscale is based on a platform called Ever OS, capable of processing millions of transactions per second, with Turing-complete smart contracts and decentralized user interfaces.
Everscale presents some new and unique features, such as dynamic multithreading, soft majority consensus, and distributed programming, which make it possible to be scalable, fast, and secure at the same time. It is governed by a decentralized community based on meritocratic principles via the Soft Majority Voting protocol.
Everscale has powerful developer tools, such as compilers for Solidity and C++, SDK and API, client libraries ported to more than 20 languages and platforms, and a variety of decentralized browsers and wallets that power many applications in the DeFi, NFT, tokenization, and governance domains.
Website: Everscale
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