Based in California, Palarin is a startup that works to transform remittances using bitcoin technology. It offers an online exchange wallet that provides bitcoin access to the Philippines market. It allows users to send money to the Philippines using bitcoins while allowing recipients to receive funds in the local currency. Migrant users of the wallet are able to select how much they want to buy in the digital currency at a price set by Palarin and then make a fiat currency deposit. Filipinos who want to purchase bitcoins are required to deposit the needed amount in pesos at a member bank. The company was founded in 2014.