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Manila Bulletin devider Business devider Banking & Finance devider BCRemit targets global migrant market with 23-country expansion

BCRemit targets global migrant market with 23-country expansion

Published Mar 11, 2026 06:01 pm
BCRemit, a Philippine-owned fintech firm, has expanded its digital remittance network to 23 countries as it prepares to pivot from a Filipino-centric service to a broader global financial platform, the company announced on Tuesday.
The expansion marks a strategic shift for the Manila-based firm, which now intends to compete for a share of the migrant remittance markets in India, Mexico, and China. Beyond retail transfers, BCRemit is developing a suite of cross-border payment tools specifically designed for small and medium-sized enterprises, business process outsourcing firms, and the growing freelancer economy.
"Our mission has always been to show that Filipino-led innovation can offer transformative solutions to the world," said Oliver Calma, founder and chief executive officer of BCRemit. Calma noted that the company’s roadmap involves positioning itself as a global financial partner capable of navigating the world’s most dynamic economies while maintaining a foundation in Filipino service values.
The company has processed more than one million transactions since its inception in 2015, representing a total volume of more than 33.6 billion pesos. This operational scale comes as the Philippines continues to see robust inflows; remittances reached 162.9 billion pesos in November 2025 alone. To capture more of this volume, BCRemit plans to launch a QR-payment collection feature in 2026 through a partnership with Coins.ph. This integration is intended to streamline outbound remittances from the Philippines and deepen connectivity with existing e-wallet ecosystems.
A core component of BCRemit’s growth strategy is its technical collaboration with Circle Internet Financial. By utilizing blockchain infrastructure and the USDC stablecoin, the platform has reduced the cost of cross-border transfers to approximately 1%. This is significantly lower than the global average remittance cost of 6.4% cited by international monitors. The use of stablecoin technology also allows the firm to bypass the traditional three-to-five-day settlement delays associated with legacy banking correspondence, offering near-instant liquidity to recipients.
Gio Calma, co-founder and director, said the drive for technical efficiency is rooted in the personal experiences of the founding family, who relied on remittances while the elder Calma worked overseas. The firm, which is regulated by the Bangko Sentral ng Pilipinas, the U.K. Financial Conduct Authority, and the Bank of Canada, among others, eventually envisions a full-service financial ecosystem. This long-term roadmap includes the introduction of credit products, dedicated e-wallets, and investment vehicles to serve the 10.8 million Filipinos living abroad and the broader global migrant workforce.
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