Tagcash has integrated the Stellar Blockchain to enable movement of money and other assets. Stellar is a decentralised protocol for sending and receiving money in any pair of currencies, including Fiat. More information can be found at the official site at http://stellar.org or a good explanation is also available at https://bitchikka.com/beginners-guide-to-stellar/
Through the use of "Anchors", money enters the system and can be sent to tagcash account holders within 3 to 5 seconds. This means for example, someone in Europe can send Euros to a Tagcash user and it will appear as Pesos in their wallet. Or the same user can have both EUR and PHP wallets with Tagcash and do the conversion themselves and then send or use the Pesos as they need. Anchors are usually government regulated and licensed entities that guarantee the conversion of Stellar assets to its real world equivalent. Tagcash is an anchor for PHP and as a regulated Electronic Money Issuer, must hold equivalent amounts of customer deposited Fiat with financial institutions.
Within the Philippines, Tagcash is working with other e-wallet providers and banks to issue their own Peso tokens on Stellar, allowing 1 to 1 swap via the Stellar decentralised exchange. This means there is no need for API development, at least not for transfer of money. Regulated entities simply exchange credits with each other on entry or exit of funds from their own customer accounts and settle later as needed. For non accredited Emoney issuers, like rural banks, Tagcash can handle the funds, and create white labelled wallets to offer more services.
Tagcash is also working with partners abroad who want to remit money to the Philippines - Partners would buy Pesos using Bitcoin or if agree, exchanged for local currency tokens issued on Stellar. We would then use those tokens within the Tagcash wallet, or liquidate for Bitcoin as and when needed.
Through the use of federation servers, customers can now have a simple address to receive money or assets - eg: mark*tagcash.com, or youremail*tagcash.com. This automatically lets our system know where to direct funds so the user sees it in their balance within a few seconds of sending. We can show you how to set up your own federation server.
For those companies who are already using Stellar, our stellar toml file is available for viewing at https://tagcash.com/.well-known/stellar.toml. If you would like stellar addresses to be authorised so that you can bulk purchase PHP, let us know via chat.
Chat to us via our chat box if you would like to learn more.
Tagcash is a digital wallet developer and platform, building blockchain solutions on Distributed Ledger Technology. Tagcash is regulated by the central bank of the Philippines (BSP), and is authorised as an Electronic Money Issuer (EMI) - https://tagcash.com/emi.pdf