Photo source: Unsplash.com (Provided by Coins.ph)

The Philippines has shown regulatory openness to digital currencies. The Bangko Sentral ng Pilipinas (BSP) has issued guidelines on virtual currency exchanges, requiring them to register and comply with anti-money laundering (AML) and consumer protection policies. This regulatory framework has helped build public trust while still allowing innovation to thrive. Additionally, the government's support for blockchain technology and digital financial services signal a long-term interest in integrating this innovation to the formal economy.

Coins.ph is one of the most prominent cryptocurrency platforms in the Philippines. Founded in 2014, it allows users to buy, sell, and store cryptocurrencies such as Bitcoin and Ethereum, as well as perform financial transactions like mobile load purchases and bill payments. Currently it is also helping transform the Philippine remittance market through blockchain technology and stablecoin solutions.

Photo source: coins.ph

As international remittances continue to play a crucial role in the Philippine economy, Coins.ph is becoming one of the preferred partners for businesses seeking efficient cross-border payment solutions. 

The Philippines continues to be a major recipient of remittances, totaling $38 billion in 2024, an increase from the previous year. Despite its growth, conventional remittance rails still inadequately serve businesses and consumers. This is due to average transaction costs of 6% to 7%, lengthy processing times of at least 2-5 business days, limited availability during banking hours, and concealed charges through unfavorable exchange rates. 

"Traditional remittance methods present challenges with cost, speed, and accessibility. Coins.ph leverages blockchain technology and stablecoins to provide a solution that offers faster, affordable, and always-available services, directly addressing these pain points for businesses and their customers." said Wei Zhou, CEO of Coins.ph.  

Blockchain solution is the future of remittance

Coins.ph's stablecoin infrastructure may help improve remittance efficiency by reducing transaction fees to 0.1%-0.3%, enabling fund transfers within minutes, providing 24/7 availability, and ensuring transparent transactions with fair exchange rates and no hidden fees.  

Through blockchain technology, Coins.ph makes cross-border transactions easy and low-priced. This technology cuts out the need for many intermediaries, which means low fees for businesses and consumers. By utilizing stablecoins which are designed to hold a steady value, this makes the amount of money sent unchanged during the transfer.  

Strategic partnerships in action

Coins.ph is working with key local players to strengthen its domestic footprint and drive financial inclusion across the Philippines. This includes DragonPay, one of the country's most established payment gateways with extensive cash-in and cash-out infrastructure.  

"At DragonPay, our mission has always been rooted in financial inclusion—making secure, reliable, and accessible payment services available to every Filipino, regardless of where they are or how they choose to transact. By partnering with Coins.ph, we continue this mission by supporting innovative remittance solutions that not only reduce costs and delays but also expand access for underbanked communities across the country. This is a crucial step in ensuring that technology truly works for the people it aims to serve," said Robertson "Dick" Chiang, Founder and CEO of DragonPay.  

Other local partners include Tala Financing, PisoPay, PayNet, Yeecopay, and Pays0, —each playing a role in helping expand access to digital payments and financial services.  

Outside the country, Coins.ph continues to support global players such as Veem, BC Remit, and Stables for cross-border flows. Coins.ph is part of Mastercard's Crypto Credential, helping enhance trust and compliance in blockchain transactions. Coins.ph is also a design partner of Circle Payments Network, with a goal to enable more seamless and reliable global payments. 

Blockchain-based remittances continue to gain adoption as more businesses recognize the efficiency benefits. Coins.ph is positioned to be one of the leads In this transition with plans to expand settlement options and add more stablecoin pairs. 

To partner with Coins.ph today, contact payments-business@coins.ph.