In other news, Western Union is collaborating with blockchain firm Coins.ph for Philippines remittances, Coindesk reported. Through the arrangement, domestic and international payments land in the digital wallets of the “over 5 million” users of Coins.ph. The crypto firm’s co-founder and CEO, Ron Hose said, according to reports, “There are many overseas Filipino workers who send money back home regularly and are always looking for additional remittance options that will make it most convenient for their loved ones to receive money.”
On another note, digital currency exchange owner Quadriga Fintech Solutions Corp. has received the green light from a Canadian court to move to a process for bankruptcy from creditor protection, Bloomberg reported. Quadriga is said to owe customers $195 million or C$260 million following the death of founder Gerald Cotten, who reportedly didn’t tell someone how to access client digital currencies. At the beginning of April, Ernst & Young said in a report that the likelihood that Quadriga comes out of restructuring “appears remote” and that asset recovery investigation could be handled better in bankruptcy.
And BMW, as well as General Motors, are getting behind the blockchain to share data for autonomous cars, Coindesk reported. Exploratory work is reportedly done through a consortium that was put together last year called the Mobility Open Blockchain Initiative (MOBI). A General Motors manager, Michael Filipowski, told the outlet, “I am excited to chair the AVDM working group and kick off the development of our collaborative efforts with the other OEM [original equipment manufacturers] and supplier MOBI members.”
