The Philippines has long been one of the world’s top recipients of remittances, with over $38 billion sent in 2024 alone, marking a continued rise that underscores the vital role overseas Filipino workers (OFWs) play in the national economy. Yet, despite the importance of these inflows, the traditional remittance infrastructure remains expensive, slow, and limited in accessibility.
Coins.ph is redefining this landscape. By harnessing the power of blockchain technology and stablecoins, Coins.ph is transforming cross-border payments into faster, cheaper, and more transparent experiences for businesses and individuals alike.
“Traditional remittance methods present challenges with cost, speed, and accessibility,” says Wei Zhou, CEO of Coins.ph. “Coins.ph leverages blockchain and stablecoins to offer faster, affordable, and always-available services—directly solving the pain points that have long burdened the market.”
The crypto advantage: Lower fees, faster transfers, greater access
Remittances to the Philippines are still largely processed via conventional banking or money transfer channels, where average fees can range between 6–7%, and transactions often take 2–5 business days to clear.
Additionally, recipients often lose value due to unfavorable exchange rates and limited banking hours.
Coins.ph flips this model on its head:
- Transaction fees as low as 0.1–0.3%
- Transfers completed in minutes, not days
- 24/7 service availability, unlike banks or remittance counters
- No hidden charges or exchange markups, ensuring full transparency
The use of stablecoins—digital tokens pegged to fiat currencies—eliminates value fluctuations, meaning recipients receive the exact intended amount regardless of currency volatility or delays.
By eliminating intermediaries and enabling direct wallet-to-wallet transactions, blockchain significantly reduces cost and friction, making it an ideal remittance solution for enterprises and everyday users.
Driving financial inclusion
According to the Bangko Sentral ng Pilipinas (BSP), more than 44% of Filipino adults remain unbanked. Coins.ph is addressing this by building a robust domestic network to bring digital financial services to underserved communities.
The company has formed key partnerships with trusted local providers, including:
- Dragonpay – A leading payment gateway with deep infrastructure for cash-in and cash-out services across the country
- Tala Financing, Pisopay, Paynet, Yeecopay, and Pays0 – Expanding financial access in rural and lower-income areas
“By partnering with Coins.ph, we continue our mission of expanding access to secure and innovative financial solutions,” says Robertson “Dick” Chiang, CEO of Dragonpay. “This collaboration is helping to ensure that technology truly serves the people who need it most.”
Seamless global payments through strategic partnerships
Beyond Philippine borders, Coins.ph is playing a growing role in the global remittance ecosystem. The platform powers cross-border flows through partnerships with international players like Veem, BC Remit, and Stables.
It is also part of Mastercard’s Crypto Credential, which boosts trust and compliance in blockchain-based payments.
As a design partner of the Circle Payments Network, Coins.ph is working to scale its remittance capabilities further by expanding settlement options and adding more stablecoin pairs to its platform, making global payments even more accessible and reliable.
The future of remittance is crypto-powered
As more businesses and financial institutions recognize blockchain technology’s operational and cost-saving benefits, crypto-based remittances are quickly gaining traction. Coins.ph is at the forefront of this shift—bridging digital innovation with everyday financial needs in one of the most remittance-dependent economies in the world.
With a mission rooted in financial inclusion and innovation, Coins.ph is not just offering an alternative—it’s building the future of remittance.
To explore remittance solutions with Coins.ph, contact:
📧 payments-business@coins.ph
