2019 Ver 1.2

01. Overview

02. Project Background

03. Overseas Remittance

04. Crypto Currency Exchange

05. Microfinance

06. Blockchain Technology

07. Company Profile

08. Team Member

09. Roadmap

10. Legal Disclaimer

11. Reference

The Philippines-based Japhil Global Coins Corporation (J-PGC), established in 2018, brings a streamlined approach to three business segments.The first is international money transfers, with a focus on remittances for Overseas Filipinos Workers (OFW), from Asia to the Philippines. The second is crypto currency exchange, with a focus on OFW users. The third is microfinance.

Blockchain technology is expected to solve the problems of OFW.However, the price volatility of the crypto market only attracts users for speculation and the problems remain unsolved. In the Philippines, high mobile phone usage rates have given rise to new customer behavior, industry disruption, and adoption of emerging technologies. This disruption has created an opportunity to drive down transfer times and the cost of international remittances. Through the remittance platform (the Platform) and crypto exchange,J-PGC has harnessed the power and popularity of mobile phones, making OFWs’ money as mobile as the OFWs earning it. J-PGC increases the accessibility of remittances to the Philippines for both the sender and recipient, saving OFWs time as well as money through its low remittance fees and competitive foreign exchange. Eventually, J-PGC will provide the one-stop solution platform which connects all our services including the remittance, crypto exchange and microfinance lending platforms. This platform will be integrated with blockchain technology, AI and other cutting-edge technologies to provide the best possible solutions for OFWs and the Philippines economy.

We have discussed three different business models. All three products require unique solutions and technologies, but the customers hold the same pains across the platforms such as highly priced commissions, non-transparency and slow processes. Since J-PGC will develop each solution, we have plans to integrate all solutions into one comprehensive platform. Customers can seamlessly switch the services across platforms, and move and manage the funds. J-PGC also has a plan to issue a prepaid card to customers, so that customers can deposit the crypto currency into the card and use it for shopping or withdraw cash from ATMs.

XPGC's token was issued by XPGC HOLDINGS LIMITED, a Hong Kong company.XPGC will be integrated into J-PGC Platform to provide a crypto based international remittance service once the crypto currency market is stabilized. We are aiming to launch this service between 2020 and 2021. Until then, we will focus on developing our products and create customer base and revenue. Once XPGCs are implemented into our system, XPGC will be used as utility tokens and represent a unit of account to be used within the J-PGC ecosystem to pay the transfer and foreign exchange fees associated with remittances. The XPGCs can be kept in the users’ own wallet or on J-PGC’ s wallet.

Despite the significant increase in migration and corresponding growth in international remittances to the Philippines, OFWs face three related significant problems:

In light of the increasing value and frequency of remittances in the Philippines, a well-functioning payment system with low transfer fees and fast transfer ties is a critical aspect of the remittance of OFWs’ funds to the Philippines.

A major issue facing OFWs is the unfamiliarity and inexperience with the banking system for both the OFWs and those that they are remitting money to. According to the World Bank, over 2 billion people are “unbanked” , meaning that they do not have access to banking services. According to the Philippines Central Bank, 86% of Filipino households are unbanked or do not have a deposit account.

As a result, in order to remit money to the Philippines, OFWs must rely on traditional remittance methods, i.e. “brick and mortar” networks operated by Remittance Service Providers (RSPs) which have historically dominated transactions. In order to initiate a cash-to-cash transfer, both the sender and receiver must visit an agent’ s office in order for the transfer to take place. This can result in unnecessary and costly travel for recipients that do not live close to an RSP or an agent of an RSP, and long wait times for those sending money. Additionally, transfers are often costly due to high fees and poor exchange rates, and can take several days. Despite the issues associated with the traditional means of transfer, it accounts for a significant portion of the OFW remittance market. Market Size / Number of Overseas Filipino Workers and Amount of Annual RemittanceAccording to estimates from the Philippine Overseas Employment Administration, roughly 9.5 million to 12.5 million Filipinos currently work or reside abroad. Between April 2016 and September 2016, the Philippine Statistics Authority estimated that 2.3 million OFWs worked abroad in 2017. As a result of its high number of OFWs, the Philippines is one of the largest beneficiaries of international remittances, having received over US $31 billion from OFWs in 2016, which was more than 10% of the Philippines’ GDP for that year.

For the “unbanked” , international remittances are based on cash-to-cash transfers which results in longer wait times

The cost of sending money continues to be high and regressive, and well above the United Nations’ Sustainable Development target goal of 3% of each remittance

Significant foreign exchange spreads are often hidden from the consumer3

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According to the Philippines Central Bank, in July 2017, personal remittances from OFWs amounted to US$2.6 billion, an 8.7% increase year-on-year. On a cumulative basis, personal remittances from OFWs from January to July 2017 rose by 5.9%, reaching US$17.9 billion. The steady growth in personal remittances drew support from the remittance inflows from land-based OFWs with work contracts of one year or more, amounting to US$13.8 billion. Compensation of sea-based workers and land-based workers with short-term contracts (excluding their expenditures abroad), reached US$3.6 billion. Similarly, cash remittances from OFWs coursed through banks, aggregating US$2.3 billion in July 2017, saw a 7.1% increase from the level recorded in the same month last year. Cash remittances from land-based workers (at US$1.8 billion) and from sea-based workers (at US$0.5 billion), rose by 6.8% and 8.4%, respectively, compared to the levels reported a year ago. Per country, the primary contributors to the growth in cash remittances during the month are the United States (with 3.3 percentage points contribution to growth), United Arab Emirates (UAE) (1.1 percentage points), Singapore (0.8 percentage point), and Japan (0.6 percentage points).

On a year-to-date basis, cash remittances posted a 5.0 percent growth, reaching US$16.1 billion in January to July 2017. Cash remittances from both land-based and sea-based workers reached up to US$12.8 billion and US$3.3 billion, respectively. Cash remittances coming from the United States, Saudi Arabia, UAE, Singapore, Japan, United Kingdom, Qatar, Kuwait, Germany and Hong Kong comprised of about 80% of total cash remittances in the first seven months of 2017. As demonstrated by these figures, OFWs play a pivotal role in sustaining the Philippines’ community. The chart below shows the increasing value of remittances between 2010 and 2017 in the Philippines:The sustained growth in OFW remittances was supported by a stable and increasing demand for skilled Filipino workers abroad. Preliminary data from the Philippine Overseas Employment Administration showed that between January and July 2017, the total number of deployed OFWs reached 1,222,003, which is approximately 58% of the total number of OFWs deployed for the year 2016 at 2,112,331.

According to the Migration and Remittance Data published by the World Bank, there are approximately 250 million international migrants around the globe, which is likely to increase due to income gaps and inequality, demographic imbalances, and environmental change. The UN estimates that in most developed countries worldwide, migrants make up more than 10% of the population on average. According to the International Fund for Agricultural Development (IFAD) in 2017, between 2007 and 2016, global remittances to developing countries increased by 51%, while the number of migrants from these same countries increased by 28%. Asia is the highest originating region, hosting 77 million migrants, with 48 million remaining within the region. Hong Kong, Japan, Malaysia, Singapore, South Korea and Thailand are the main regional hubs, hosting between 1 million to 3 million migrants each.

Corresponding to this growth in migration is a significant and continued rise in money remitted each year, resulting in a sizeable and growing market for global money transfers. According to the World Bank, in 2015, remittance flows to developing countries reached US$432 billion, which is more than three times the size of official development assistance. In 2016, remittances totaling US$537 billion were received worldwide, growing at a CAGR of 10.4% since 2000. The World Bank projects that an estimated US$6.5 trillion in remittances will be sent to low and middle-income countries between 2015 and 2030.

Remittances are vital for receiving families - approximately three quarters of family remittances are used to cover immediate basic needs, while the remainder is used to

cover long-term goals such as education and health, savings and investments, small assets and other income-generating activities. According to IFAD, an estimated 800 million people worldwide are directly supported by remittances. When taken together, the senders and recipients who comprise the remittance network amount to approximately 1 billion people, which translates into one out of seven people in the world.

Remittances are often “corridor specific” , which refers to the flow of remittances between two specific countries. Certain corridors are highly active, while others are less so. The size of a remittance market in a country is determined by a country’ s population, its political stability and the number of migrants living in developed countries. The distribution of remittances across the globe is highly concentrated in a small number of countries, with 80% of remittances received by 23 countries. The most dynamic growth in remittances over the past decade has been in Asia, which now receives 55% of all flows.

The top remittances are, in nominal US dollar terms, to India, China, the Philippines, Mexico, and Pakistan, as demonstrated by the table below.

Remittances to, and migration from, the Asia Pacific region changed dynamically from 2007 to 2016. Inflows to the region increased much faster (87%) than migration (33%), reaching US$244 billion in 2016. Asia remains the main remittance-receiving region, with 55% of the global flows and 41% of total migrants. In comparison, European remittances (5%) and migration (19%) had the smallest increases of any region. These numbers indicate that individual migrants from Asia-Pacific are sending on average more money home on a regular basis, while the reverse is true for migrants in Europe, who are sending less. Growth in remittance flows to Africa (36%), Latin America and the Caribbean (18%), and the Near East and Caucasus (37%) are consistent with their increase in migration, 33%, 21% and 38% respectively.

The above numbers indicate that the Asia market for remittances shows the most dynamic growth, and therefore show significant current and future market opportunities for remittance companies with a focus on remittances to Asian countries.

According to the Japanese labor and welfare ministry, in 2016, over 1 million foreign workers were recorded working in Japan. At the end of October 2016, a record 1,083,769 foreigners were working in the country, up 19.4% from a year earlier.

The number of Chinese workers topped the foreign labor list, gaining 6.9% to reach approximately 345,000, accounting for nearly one third of the total. The Vietnamese ranked second, jumping 56.4 percent to approximately 172,000, followed by Filipinos at 128,000, up by 19.7%.

Although many do not have access to an established banking system, access to mobile phones is considerably more common. According to the World Bank, more households in developing countries own a mobile phone than have access to electricity or clean water, and nearly 70% of the bottom fifth of the population in developing countries own a mobile phone. Additionally, the number of internet users has more than tripled in a decade – from 1 billion in 2005 to an estimated 3.2 billion at the end of 2015. In 2015, over 117 million people in the Philippines had cellular subscriptions.

The mobile phones released over the last five years are equipped with functionality that can enable remote mobile payments, allowing access to banking for the unbanked, and providing a significant opportunity to disrupt the global remittance market and the traditional forms of money transfer. According to the AsianBanker, based on WorldRemit estimates, approximately 400 million of the two billion unbanked people in the world have some form of mobile money account. With the rise and adoption of mobile technology and digital platforms, OFWs no longer need to rely on an expensive agents and physical infrastructure-based origination models. OFWs can now send money home quickly using just a smartphone, and at a fraction of the cost of traditional methods.

The discussion below highlights how these trends are related and impact one another, thus driving the global remittance market in the future.

In 2005, the global remittance market was dominated by two to three established players who primarily dealt in cash-to-cash transactions. The market has since evolved, such that the traditional MTO model now faces challenges from new market participants such as hybrid/multi-channel MTOs. As a result of such competition, the remittance market has evolved for the better: prices have declined, networks have

After years of domination, the traditional cash-to cash MTO model is now being challenged by new entrants.

The share of the global remittance industry held by digital global RSPs is still fairly small, however, growth of digital remittance is extremely fast at digital-first start-ups and legacy companies.

The largest market share has been retained by a few legacy global players through consolidation despite the crease of market competitors.

Start-ups are undercutting incumbents' fees in certain corridors; however, legacy firms have matched prices in many major corridors.

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expanded, compliance techniques have improved, and technology has helped to streamline the process.

Banks currently account for the bulk of remittance volume, however, sending countries are shifting significantly toward MTOs as they are generally much less costly than banks to send remittances. According to IFAD, in 2016, MTOs represented more than two thirds of RSPs engaged in sending remittances. The MTO market is currently dominated by large legacy RSPs, which traditionally were based on antiquated technology, with the majority of money transfers made offline and reliant on physical infrastructure. The dominant MTOs tend to maintain prices above the global average until competitors with wide enough networks and more affordable pricing threaten their position, forcing them to lower fees.

The major players’ positions in the industry are beginning to be challenged by the emergence of significant competitors. RSPs compete based on how well they: (1) offer affordable pricing for money transfers; (2) improve the granularity of their network in urban centers and expand their outreach to remote areas; (3) establish solid payment networks in both sending and receiving countries; (4) provide a wide range of financial services to their clients; and (5) comply with regulatory requirements. Over the past few years, new entrants have successfully leveraged digital platforms to meet these needs, allowing them to compete with established, traditional remittance providers both in terms of scale and fees. Although established providers still dominate the global remittance market with large customer bases, extensive agent networks and a high degree of brand recognition, digital start-ups have been growing at a tremendous rate.

The digital remittance model is a nascent but fast-growing business model aiming to tap into a US$600 billion global market by combining competitive pricing, responsive and user-friendly web design, greater fee transparency, and customer service. Global remittances having been estimated to reach US$6.5 trillion between 2015 and 2030, and traditional money transfer companies charging up to 10% for transactions, it’ s easy to see how billions of dollars worth of fees can be pocketed by these growing digital remittance companies.

J-PGC’ s new remittance model is to increase the convenience and accessibility of a transfer, lower remittance costs per transaction, and offer a low exchange. The remittance platform is an experienced online international money transfer service provider, offering safe, secure and affordable online remittance solutions, and has partnered with J-PGC to expand its network to remittances originating from Japan to the Philippines, then expand to other countries. To ensure that the transfer is convenient for those on the receiving end, J-PGC will be partnered with local Filipino banks, such as BDO, the largest bank in the Philippines. J-PGC offers direct transfers to recipients’ bank accounts and over 8,700 locations (including banks, ATMs or cash counters around the Philippines) that the recipients can pick up their money from, removing unnecessary and potentially expensive travel for the recipient from the equation. We ensure that the OFWs’ money makes it where it needs to be without any hassle or worry for the OFW. However, as we stated above, existing crypto is too volatile to implement into the system. Therefore, at first, we will build the remittance ecosystem by leveraging the existing partners, and once crypto currency price and market is stabilized, we will start implementing XPGC to the platform.

Through the Platform, users can instantly send money from their computer or mobile phone using the Platform’ s secure and transparent service.

Recipients can pick up cash from partner banks or other locations open 365 days a year, 7 days a week. In some circumstances, the maximum wait time for a recipient to receive funds is one business day, however, in most cases the transfers are instantaneous.

J-PGC operates in the acquisition of cryptocurrency exchange with a platform management license in the Philippines and Asia. The cryptocurrency exchange platform managed by J-PGC possesses the following competitive strengths.

1: We offer a user interface that is easy to use even by OFWs.2: We handle cryptocurrencies that are dominant in international, cross-border money transfers.3. We handle cryptocurrencies that circulate in a large scale such as Bitcoin, Ethereum, Ripple, etc.

We hypothesize that there are many migrant workers overseas such as the OFWs, and many of those feel stressed with sending money globally. We wish to capture this target market perfectly, offer a competitive handling charge, and secure transaction volume to become the Philippines top exchange platform and use this service to contribute to the innovation of global money transfer services all over the world.

Cryptocurrency transaction volume in the Philippines.The Central Bank of the Philippines (BSP) reports that the volume of cryptocurrency transactions in the Philippines from legal tenders and other forms of currency averages about $36,000,000, each month in 2018. In the boom period in 2017, the amount of exchanges from the Peso, the national currency, and other legal tenders to cryptocurrency is about $38,000,000 while the exchange from cryptocurrency to other legal tenders is estimated at about $24,000,000 (http://www.bworldonline.com/philippine-cryptocurrency-transactions-steady/)

The cryptocurrency transaction volume is in a rising trend, and as stated above, the reason for that is that the amount of transfers from families working overseas is about $2.6 billion each year, and cryptocurrency is already in use as an overseas transfer method by the OFWs. The increase in transaction volume is also linked to the Philippines' population. Looking at the Philippines' population pyramid, the population is concentrated in the younger 20-30 years age range. This younger generation established cryptocurrency exchange platforms and cryptocurrency ventures, aiming to solve the money transfer and the national currency issues that they are familiar with.

There are 2 billion people in the world that have no access to a bank. According to a survey by CNN, 77% of the citizens of the Philippines do not have a bank account. In this current condition, loans by microfinances that do not use bank loans as intermediary are more active. According to the BSP, the consumer credit market is estimated at 1.466 trillion PHP. Most of these loans are performed face-to-face with cash money. This causes issues for both sides, where the debtor will have to spend money and time on transportation to visit the loan store, while the creditor will have to spend money on store ownership, employees' salary, and safety measures for the funds. This is one of the causes of the high interest rate in the Philippines. We believe that solving this issue will provide solutions to the debtor.

The solution that J-PGC offers uses customer data collected by overseas money transfer businesses and cryptocurrency services to make a distinctive credit rating, and we also have plans for a non-store operation business that makes the most of smartphones, AI credits, and lending businesses committed to cryptocurrency. This initiative does not only attempt to reduce costs, it also makes it possible to perform credit score calculations instantly and transparently, and curbs the interest rate for the debtors. The final goal is to support the debtor to become economically-independent in the future, and become a business that has social significance.　

By partnering with local governments and Welfare organizations, we plan to develop an unprecedented market.

In this project, in order to realize XPGC, we adopt blockchain technology that can secure high transparency and reliability on the Internet.

Blockchain technology is a distributed ledger technology built on the network and is a secure and highly transparent technology for recording service records that can be applied besides settlement of virtual currency.Since it is more robust, persistent, transparent, and dispersive than management by conventional databases, it is attracting attention in recent years as a record book that guarantees and certifies the authenticity of transactions and contents. "Data tampering Difficult data recording technology ".

In the blockchain, records of transactions occurring in the network are stored in chunks of records called "blocks". In addition to recording the transaction, each block stores information called a hash value indicating the contents of the block generated immediately before. It is a data structure in which the generated blocks connect like chains along the time series. If you try to tamper somewhere in the block generated in the past, you will have to change the hash value of all subsequent blocks, so you can not change in practice. For this reason, the XPGC platform using the block chain has a very excellent data structure for tamper resistance, so it will be a platform that will gain trust from not only users but also creators and related companies.

In addition, there are other benefits of using blockchain technology with XPGC. By using blockchains, since there are many distributed ledgers, there is no fear of server down and hacking is impossible, so the need for server maintenance and security measures can be reduced. Furthermore, the transaction cost and time can also be done smoothly worldwide compared with the conventional approval system. Transactions are verified under the public view, so that it is possible to transfer money quickly and safely without the existence of a trusted third party and to reduce transaction costs and time.

On the XPGC platform, settlement and donation by XPGC token, participation type voting function, digital ticket management after purchasing event tickets, copyright management are carried out using such blockchain technology.The development application program of this project is panned to be shared on Github.

JAPHIL GLOBAL COINS CORPORATIONS(J-PGC)

Address：Mezzanine Area, Shalom Hotel CebuBeside VMA Dental Clinic85 Osmeña Boulevard, Cebu City, Philippines, 6000

XPGC HOLDINGS LIMITED

Address：Rm 2012, 20/F.,Tower 1, The Gateway,25 Canton Road,Tsim Sha Tsui,Kowloon HONG KONG

WEB：https://xpgc.io

Mail:info@xpgc.io

twitter：https://twitter.com/XPGC1

Telegram：https://t.me/xpgc1https://t.me/xpgccommunity

EMMANUEL ROA DUTERTE (President, JPGC)The younger brother of the 16th President of the Philippines, Rodrigo Roa Duterte. He is responsible for providing strategic leadership for the company by working with the Board of Directors and other management to establish long-range goals, strategies, plans and policies. Morse School of Busines in Connecticut, USA with the degree of Bachelor of Science in Management. A former Procurement Manager in Phil-Japan Active Carbon Corp.

Carmelito Edgar Calvo Duterte(Board of Director, JPGC)The 1st cousin of the Philippine President Rodrigo Roa Duterte. He is responsible in managing the operation of the business in Cebu branch, Cebu City, Philippines. Southwestern University, Cebu Philippines with a degree of Bachelor of Science in Commerce. A former District Service Assistant in a big insurance company.

Dr. Gloria Tuquib Duterte (Corporate Secretary, JPGC)Organizer and Chairman of Pagdumala a program that make follow up on admitted patients that are discharged. This is due to working in a Government Office for many years.Southwestern University Aznar Memorial College of Medicine, Cebu City Philippines with a degree of Bachelor of Medicine.She has been the Head of Emergency department and Internal Medicine at Cebu City Medical Center Hospital. She has a connection with the government and has experience as a manager.

Jennifer Gonzales Ang (Manager, JPGC)She provides leadership at all levels of the organization. Supervises on interviewing, hiring, training and disciplining employees as well as coaching and mentoring them. Honors in the University of the Visayas, Cebu Philippines with a degree of Bachelor of Science in Accountancy. A former manager in the Multi-Purpose Cooperative for 14 years and worked also as Manager in St. Paul Sobeys, Alberta, Canada for more than 2 years.

Kazuyuki Kishida(CEO, XPGC HOLDINGS LIMITED)As a businessman engaged in business of various business models.With friendship with OWF, we are developing business that makes full use of international connections such as matching business between Philippines and Japan.Besides specializing in internet marketing, he also serves as an engineer.

Date Milestone2019 Microfinance, business development of crypto currency exchange2019 Tie ups with other utility tokens and loyalty-based points systems (e.g. airlines, convenience stores, hotel points, etc.)2019 Expansion into other services, such as lending, peer to peer lending and data mining2020 Expand international remittance service based on virtual currency2020 Expansion into additional markets

What does a XPGC legally represent ?

XPGCs are utility tokens, which function similar to coupons and represent future access to a company’ s product or service. XPGCs function as a medium of exchange between users and the Platform, which offers the conversion of the XPGCs into transfer fees and exchange rate deduction on a transfer of PHP to the Philippines. XPGCs do not have value or use outside of the Platform and there is no promise of future performance.

XPGCs are not security or equity tokens, securities or for speculative investment purposes. Therefore, XPGCs do not entitle you to any equity, governance, voting or similar right or entitlement in J-PGC or in any of its affiliated companies. XPGCs afford the holder no rights in, or claims to, any of the assets of J-PGC or to in any way share in any profits that J-PGC may achieve. By purchasing XPGCs you are not purchasing an ownership interest in J-PGC, but an entitlement to our services.

The fine print

The white paper has been prepared by XPGC HOLDINGS LIMITED to present relevant information to potential XPGC purchasers in connection with the proposed generation and sale of XPGCs. This material is provided, for informational purposes only and nothing in this white paper shall be deemed to constitute a prospectus or any sort of a solicitation for investment, nor does it in any way pertain to an offering or a solicitation of an offer to buy any securities in any jurisdiction. XPGCs are a utility use product enabling the services provided by the Platform, as detailed above.

This document was not prepared in accordance with laws or regulations of any jurisdiction designed to protect investors. Certain statements, estimates and financial information contained in this white paper constitute forward-looking statements or information. Such forward-looking statements or information involve known and unknown risks and uncertainties which may cause actual events or results to differ materially from the estimates or the results implied or expressed in such forward-looking statements.

This document is subject to change.

World Bank Remittance Data, accessed at: http://www.worldbank.org/en/topic/migrationremittancesdiasporaissues/brief/migration-remittances-data

The United Nations, The International Migration Report 2017, accessed at: http://www.un.org/en/development/desa/population/migration/publications/migrationreport/docs/MigrationReport2017_Highlights.pdf

International Fund for Agricultural Development, Sending Money Home: Contributing to the SDGs, one family at a time, accessed at: https://www.ifad.org/documents/38714170/39135645/Sending+Money+Home++Contributing+to+the+SDGs%2C+one+family+at+a+time.pdf/c207b5f1-9fef-4877-9315-75463fccfaa7 (IFAD)

Philippine Statistics Authority, Statistical Tables on Overseas Filipino Workers, accessed at: https://psa.gov.ph/statistics/survey/labor-force/sof-index

Philippines Central Bank, 2014 Consumer Finance Survey (reported in January 2017), accessed at: http://www.bsp.gov.ph/downloads/Publications/2014/CFS_2014.pdf

Philippines Central Bank, 2014 Consumer Finance Survey (reported in January 2017), accessed at: http://www.bsp.gov.ph/downloads/Publications/2014/CFS_2014.pdf

Philippines Central Bank, 2014 Consumer Finance Survey (reported in January 2017), accessed at: http://www.bsp.gov.ph/downloads/Publications/2014/CFS_2014.pdf

The Asian Banker, Pioneering a mobile-first approach to remittances, accessed at: http://www.theasianbanker.com/category-post-updates?postsubcategory=Research%20Note (the Asian　the Asian Banker)