Over-the-counter (OTC) cryptocurrency service Moneybees has opened three new outlets in the Philippines this month. Moneybees aims to boost local Bitcoin and Ethereum transactions with the opening of these cryptocurrency exchange outlets. The outlet will accommodate the growing demand for OTC transactions. The announcement came following a partnership with money changer service Tivoli Money Exchange.  

Philippines Interested in Virtual currencies

According to Bangko Sentral ng Pilipinas, the central bank of the Philippines, the country is witnessing a rise in interest in digital currencies to facilitate payment, remittances, and other transactions associated with digital assets. Moreover, during the first half of 2020, the Philippines has addressed 59 billion worth of transactions.

Paulo del Puerto, CEO of Moneybees, said:

“With the rising demand for cryptocurrency trading and investment, we aim to facilitate two billion pesos worth of transaction volume in 2021. To serve more customers, we’re also looking at opening more outlets in malls around the Philippines and partner with major market players in the remittance and money exchange industry. We target to open 100 outlets by the end of the year.”

“The partnership with Tivoli is a great step for us to fulfill our mission of making crypto more accessible in the Philippines by providing a familiar and secure way of buying and selling crypto via OTC. Having Tivoli as a partner is a great milestone, but we are only starting.”

Customer Service at the Crypto Exchange Outlets

Moneybees plans to expand services from four Tivoli outlets to 100 outlets in 2021. The outlets will handle the surging demand of OTC transactions among Filipino cryptocurrency users, investors, and traders.

Moneybees’ customers can cash out their trading gains from exchanges not having peso cashouts in Trinoma, Glorietta, and Okada branches of Tivoli Money Exchange. The service supports all crypto users who currently use Bitmex, Binance, and other exchange wallets.