AlipayHK Opens Blockchain Remittance Corridor to the Philippines

The payment affiliate of China's e-commerce giant Alibaba has launched a blockchain-based remittance service between Hong Kong and the Philippines.

AccessTimeIconJun 25, 2018 at 11:01 a.m. UTC
Updated Sep 13, 2021 at 8:06 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Ant Financial, the payment affiliate of Chinese e-commerce giant Alibaba, has launched a blockchain-based cross-border settlement service for consumers.

According to a local news report, Ant Financial announced the blockchain remittance service at a press conference in Hong Kong on Monday, saying it will initially be rolled out for consumers sending funds between Hong Kong and the Philippines.

By integrating its AlipayHK service with GCash – a Philippines-based mobile payment service – using blockchain tech, Ant Financial says the service will save users from having to go to intermediaries and that it will settle their transactions within "seconds."

The banking partner for the new service is Standard Chartered – an institution that is already participating in a blockchain-based cross-border payments pilot alongside Thai banks.

According to the Hong Kong government's latest statistics, by the end of 2016, there were around 200,000 Filipino domestic helpers in Hong Kong, who account for three percent of the city's population, and many of whom will use remittance services to send cash home to family.

Ant Financial added that it plans to add partnerships with mobile networks to build corridors into other regions in the future.

The news of the new remittance service comes just weeks after Ant Financial announced that it raised $14 billion in a Series C round funding, part of which will be devoted to blockchain technology development.

Alipay image via Shutterstock


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.