Atom Solutions Co., a Japan-based fintech firm, said it will launch what it claims to be the world's least expensive international remittance service starting in March, in a company release.

The remittance rate will be 0.5 percent above the interbank Transfer Middle Rate, according to the announcement. The service will have a sending fee of about five cents.

The company said it will initially offer remittance services between South Korea and the Philippines and expand into a total of 10 countries, according to the release. The service will not be offered through traditional banks, but using peer-to-peer transfer through an Eternal Wallet, of which there are about 40,000 users, according to the website.