Direct Agent 5 Inc., a BSP licensed remittance provider, has partnered with a hybrid e-wallet company Surge Mobile Access Inc. to offer fast and low-cost remittance services. Their brick and mortar over the counter (OTC) called Surge Direct Xpress (SDX), uses cryptocurrency paired with traditional and mobile distribution channels to benefit Filipinos here and abroad. Surge Mobile Access CEO RJ Lizarondo III says: “Our main goal is to give back to our community through the power of blockchain technology.”
The first product from SDX is their stablecoin token. The alliance between these two companies merges Surge Mobile Access’ robust digital assets and sizable community, which as of now encompasses fifteen churches globally and their millions strong congregation’s mobile network, with DA5’s 4,000-plus branches/partners nationwide and abroad. Their blockchain based global money remittance and bills payment service promises faster, cheaper services and fees for users everywhere.
Surge Mobile Access CEO RJ Lizarondo III officially signs partnership with Da5 CEO Raymond Babst
Unlike traditional banks which utilize the SWIFT payment system to send money and various intermediary banks which tend to delay and add additional fees, SDX relies on the blockchain to allow peer-to-peer transfer between sender and receiver. The only added difference is that aside from allowing transfer directly to digital wallets like most crypto systems, the SDX system also has a tie-up with a network of actual branches for the crypto-to-fiat conversion. This is something that many Filipinos still prefer as they are used to this.
New Strategic Partnership (L-R: Jay Em, Justine Em, RJ Lizarondo III (Surge), Raymond Babst, Jonathan Lizarondo (DA5), Charles Inducil (Acceptar Group)
SDX has created a cross-platform seamless system that will truly showcase the benefits of blockchain technology paired with a digital app. This technology aims to speed up remittances for Filipinos worldwide at lower fees. It will also provide new rewards and value-added services through the SDX token and the ecosystem around it.
With this new SDX token, not only will they be rewarded, Overseas Filipino Workers (OFW’s) will now have faster and inexpensive options when it comes to sending money back to the Philippines. (Remit-Save-Reward Program).