Moneybees, Tambunting Bring Crypto To 97 Pawnshop Branches Nationwide | BitPinas

To further extend the reach of its crypto services, over-the-counter (OTC) cryptocurrency exchange and licensed virtual asset services provider (VASP) Moneybees recently announced its strategic partnership with pawnshop conglomerate Tambunting Kahera ng Bayan branches.

The collaboration aims to enhance the availability of cryptocurrency financial services in the Philippines, focusing on Forbes Park in Makati and rural, remote regions across the country.

Moneybees and Tambunting’s Kahera ng Bayan

According to the media release, the collaboration includes various pawnshop brands under Tambunting Kahera ng Bayan which aim to expand market reach, target new customer segments, and promote financial inclusion, particularly in underserved communities nationwide.

The other pawnshops are JPT Central in Forbes Park, Aurotam Pawnshops, Prime Phil-Asia Star Pawnshops, Prime Quality Supreme Nation Pawnshops, Prime Sealand Pawnshops, and Reliance Prime Equity Pawnshops.

Tambunting Branches to Be Utilized for Crypto Transactions

Moreover, through the partnership, Moneybees will utilize 97 Tambunting branches across the Philippines to enable effortless conversion of digital currencies into pesos. 

In a statement, the firms highlighted that this extended network will allow both novice and experienced crypto traders to engage in over-the-counter transactions, expanding access to financial products beyond traditional banking services.

Jay Ricky Villarante, Moneybees’ Chairman and CEO, expressed optimism about the partnership, highlighting its potential to enhance financial access, spur innovation, and elevate customer experiences.

“Through our partnership, we aim to democratize access to financial services, particularly for those living in rural or remote areas, thereby contributing to the advancement of the financial inclusion goals set by the Bangko Sentral ng Pilipinas.”

Jay Villarante, CEO, Moneybees

On the other hand, Miguel Tambunting, CEO and President of Tambunting Kahera ng Bayan, highlighted the transformative potential of virtual assets and the increasing demand for Virtual Asset Service Providers in the global financial landscape.

“There is a huge surge in interest in cryptocurrencies because it is a powerful representation of value that can be traded or used for a number of use cases, such as investment and payments—anywhere, anytime. Partnering with Moneybees provides satisfying solutions to a growing number of financial needs for the customers, and shores up our virtual asset capabilities in the areas of trade, remittance, investment, and crypto-fiat exchange, and opens up e-commerce growth opportunities in the future.”

Miguel Tambunting, CEO, Tambunting

In addition, the media release noted that Moneybees and Tambunting Kahera ng Bayan will work together to establish a virtual asset management ecosystem.

In 2022, Moneybees and Tambunting teamed up, designating Tambunting pawnshops as one of Moneybees’ partner over-the-counter (OTC) outlets, offering cryptocurrency buy and sell services.

Available Crypto in Moneybees

• Bitcoin (BTC)
• Ethereum (ETH)
• Litecoin (LTC)
• USD Tether (USDT)
• Bitcoin Cash (BCH)

Other Moneybees News

In January, Moneybees partnered with JK BitcoinHub, operated by PSulit Money Changer, to launch an OTC cryptocurrency exchange service which aims to introduce a customer-centric platform for trading cryptocurrencies.

At the second Philippine Block Awards last year, Moneybees CEO Villarante is one of the 12 Blockchain Champions where the event recognized their significant contributions to the blockchain industry.

In 2023, Moneybees shared that their partnership with Monteal Money Changer Services, which caters in-person cryptocurrency transactions, continues to thrive despite pandemic-related disruptions.

In 2022, Moneybees partnered with ACM Business Solution Inc. to launch cryptocurrency buy and sell services through its GoVIP centers.

This article is published on BitPinas: Moneybees, Tambunting Bring Crypto OTC Services Nationwide

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