There are 10 million Filipinos working outside of the Philippines. They send money back home regularly, to the tune of $32.21 billion last year. Traditional methods of remittance cost Filipino overseas workers about 5% of the amount sent. Using our stablecoin ROKS, we can reduce this cost down to 1% or even less. Initially, ROKS remittance cost is between 2 to 3% which will go down to 1% by popularizing the use of ROKS as medium of exchange
We are introducing a USD-equivalent stablecoin, ROKS, to help Filipino overseas workers reduce the cost of sending money back home to support their families.