Alipay Claims Global First with Blockchain Remittance

Alipay’s Hong Kong unit launched remittances between its users and GCash customers in the Philippines, a move touted as the first mobile wallet-based cash transfer tool secured by blockchain technology.

In a statement, Alipay parent Ant Financial said using blockchain segmented and streamlined the remittance process to improve the speed, transparency and security of delivery compared to traditional international transfer methods.