Coins.ph, a crypto-native financial services platform based in the Philippines, has integrated with the Circle Payments Network (CPN) to facilitate faster and more cost-efficient cross-border payments into the Philippines for institutions, platforms, enterprises, and end-users.
As a beneficiary financial institution (BFI) within CPN, Coins.ph will offer payout capabilities across its network of over 120 local banks and e-wallets. This integration aims to streamline settlement into Philippine Pesos (PHP) utilizing compliant, blockchain-powered infrastructure.
The collaboration is intended to modernize global value movement into the Philippines. Financial institutions connected to CPN can now benefit from near-instant settlement and direct local currency distribution through Coins.ph. This infrastructure is expected to result in lower fees, competitive foreign exchange rates, and near-instant access to funds for end-users, including Overseas Filipino Workers (OFWs) and their families, as well as various enterprises. Real-time payment status updates are also designed to enhance transparency throughout the transaction process.
Wei Zhou, CEO of Coins.ph, stated, “Joining Circle Payments Network makes the Philippine Peso a native part of the internet economy. Through this integration, we’re helping to modernize how value moves into the Philippines by reducing the costs and delays often associated with legacy cross-border infrastructure, while improving the speed and predictability of local payouts.”
Irfan Ganchi, SVP of Product Management, Payments at Circle, commented, “Coins.ph’s integration with CPN strengthens local payout capabilities in the Philippines. By enabling PHP payouts through CPN, Coins.ph helps institutions deliver real-time, compliant settlement in one of Southeast Asia’s most dynamic markets, supporting our shared vision for a more inclusive and interoperable financial system.”
Coins.ph, established in 2014, operates as an all-in-one financial application that combines traditional finance with digital assets. It functions as the Philippines’ leading cryptocurrency exchange, licensed by the Bangko Sentral ng Pilipinas (BSP) as both a virtual asset marketplace and a mobile wallet. The platform enables users to trade, make payments, and utilize crypto remittance services for sending and receiving funds.
Circle Payments Network (CPN) is operated by Circle Technology Services, LLC (CTS), which provides products and services to financial institutions for CPN access and integration. CPN connects participating financial institutions globally, with CTS serving as the technology service provider. CTS facilitates the connection between financial institutions to communicate and settle directly, but it does not hold funds or manage accounts on behalf of customers. Transactions facilitated by CPN are executed by participating financial institutions at their own risk, subject to CPN Rules and the CPN Participation Agreement.
