Philippine-developed blockchain platform Xode Blockchain is expanding its enterprise presence through partnerships with remittance provider iRemit Inc. and IoT Technology Inc. The collaborations will explore blockchain applications designed to improve cross-border money transfers, agricultural data management, and business operations.
The companies signed separate agreements with Xode on Oct. 31, 2026, establishing a framework for integrating the blockchain network into existing commercial processes. Initial projects will focus on improving remittance settlement and developing systems for collecting, verifying, and preserving agricultural data.
The partnerships represent Xode’s effort to extend blockchain technology beyond digital asset applications and introduce it into practical business operations, including financial services, agriculture and industrial automation.
Xode and iRemit Target More Efficient Cross-Border Payments
Under its agreement with iRemit, Xode will examine how blockchain infrastructure can improve international money transfers by streamlining transaction processing, verification and reconciliation.
The proposed integration aims to establish a transparent and tamper-resistant record of transactions from the initial sender to the final beneficiary. By allowing participating parties to access a common transaction record, the companies expect to reduce operational inefficiencies and improve the reliability of remittance processing.
The initiative addresses an important segment of the Philippine economy, where overseas Filipino workers (OFWs) regularly send money to support families at home.
According to the Bangko Sentral ng Pilipinas, overseas Filipinos transferred $35.6 billion through formal banking channels in 2025. Meanwhile, figures cited by Xode from a 2026 US Federal Reserve analysis of World Bank data indicated that the global average cost of sending $200 stood at approximately 6.5% in 2025.
Xode co-founder and president Gahum Vincent Garcia indicated that blockchain-based transaction records could help reduce inefficiencies in international transfers and improve settlement transparency. He also emphasized that lowering transaction expenses could increase the amount of money reaching recipient families.
iRemit Expects Lower Operating Costs for OFWs
For iRemit, integrating blockchain technology could reduce administrative expenses by automating certain processes and lowering manpower requirements. The resulting cost savings could provide the company with greater flexibility to offer competitive foreign exchange rates, discounts and promotional incentives to overseas workers.
iRemit chief operating officer Ma. Cristina Castillejo said the company expected automation to reduce operational costs, potentially allowing more resources to be directed toward improving services for OFWs.
The initial implementation will concentrate on strengthening existing remittance operations rather than immediately introducing more advanced digital financial products.
Castillejo also highlighted the importance of customer education and transaction security before expanding the company’s blockchain-based financial services.
iRemit currently provides several payment options, including bank-to-bank transfers, cash pickups and door-to-door delivery. Its services also cover government contribution payments and real estate collections.
Xode and IoT Technology Explore Blockchain-Based Agricultural Data
The second partnership will focus on combining blockchain infrastructure with Internet of Things (IoT) devices and artificial intelligence for enterprise applications.
IoT Technology president Warren Enteria said the proposed agricultural project would use sensor-equipped drones to collect information related to farming activities and carbon measurements. The collected data would subsequently be recorded on Xode’s blockchain network, creating a traceable digital repository.
The initiative could eventually support the development of carbon credits by providing landowners with verifiable agricultural and carbon-related records that may be used when offering credits to prospective buyers, subject to government standards and certification requirements.
The companies are still evaluating the pilot project’s technical and operational requirements, including funding, deployment capacity and resource allocation.
Beyond agricultural applications, the agreement will explore opportunities in logistics, fleet management, manufacturing, industrial monitoring and business automation.
Xode Positions Its Layer-1 Network for Enterprise Adoption
Xode describes itself as a Philippine-developed layer-1 blockchain, meaning it operates an independent underlying network that developers and businesses can use to build applications and services.
The company indicated that the agreements establish the foundation for further collaboration, although actual implementations will depend on technical development, commercial feasibility, and applicable regulatory requirements.
Garcia said partnerships with established businesses would help Xode understand industry-specific requirements and develop blockchain applications capable of addressing existing operational challenges.
The collaborations could also create opportunities for Filipino developers and technology companies to participate in enterprise blockchain development.
By pursuing applications across remittances, agriculture, and industrial operations, Xode is seeking to demonstrate how blockchain infrastructure can deliver practical efficiencies for businesses while supporting broader digital transformation in the Philippines.