BCRemit marks 10 years and passes US$1 billion in cross-border transfers

The useful part

PH-owned fintech firm BCRemit marks 10 years, surpasses US$1B in cross-border transfers. The milestone its position as a major cross-border payment platform for Overseas Filipino Workers (OFWs) as the company expands into enterprise payments and new regional corridors. Gio Calma, Co-Founder and Director of BCRemit, speaks during BCRemit's 10th anniversary celebration event.

How it works

• Founded in 2016 by former overseas worker Oliver "Bong" Calma and his son Jose Angelo "Gio" Calma, BCRemit was built directly out of the founders' personal experience with the high costs and delays of...
• Rooted in the belief that OFWs deserve to 'send money back home faster,' the platform has now processed over one million transactions across its network.
• "Our mission has always been to show that Filipino-led innovation can offer transformative solutions to the world," said Oliver Calma, Founder and CEO of BCRemit.
• Its international footprint expanded following strategic market entries into Spain in June 2021, backed by licensed entity BC Remittance S.L.
• to establish a regulatory passporting foundation across the European Union, followed by rollouts in Canada in January 2022 and the United States in August 2022.

What to take from it

By leveraging blockchain technology and USD stablecoins, BCRemit has disrupted traditional remittance channels, reducing average transaction costs to approximately 1% with zero hidden fees, cheaper than the global average remittance cost of 6.4%. Beyond standard transfers to Philippine banks such as BDO and BPI, cash pickup locations, and e-wallets like GCash and Maya, the platform offers direct bill payments through BCRemit Pay. Overseas workers can directly settle government obligations, including SSS, Pag-IBIG regular/MP2 savings, and loan repayments, alongside property bills and mobile top-ups.

Example or evidence

• Looking ahead, BCRemit is extending its cross-border settlement capabilities beyond retail transfers.
• Additionally, BCRemit is preparing to launch in high-volume corridors across the Middle East and Asia-Pacific, with priority target markets including Saudi Arabia, Australia, Japan, and South Korea.
• For more information, you may visit https://www.bcremit.com/ or follow them on Facebook, Instagram, and TikTok.

Details worth keeping

LionhearTV Home › Press Release › PH-owned fintech firm BCRemit marks 10 years, surpasses US$1B in cross-border transfers Press Release BCRemit, a Filipino-led global digital remittance company, has crossed US$1 billion in total processed transactions as it celebrates its 10th anniversary. Today, BCRemit operates across 24 countries worldwide. The firm is scaling its payment rails to serve small and medium-sized enterprises (SMEs), business process outsourcing (BPO) firms, and freelancers, while offering white-label payout integrations for third-party financial institutions.

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