The friction of moving money across borders into the Philippines is set to decrease as Coins.ph, the country’s leading crypto-native financial platform, officially joins the Circle Payments Network (CPN).
The move aims to modernize cross-border value movement, providing institutions and enterprises with faster, blockchain-powered rails for local currency settlement.
By becoming a Beneficiary Financial Institution (BFI) within the CPN ecosystem, Coins.ph now enables seamless payouts across its massive local network, which spans over 120 banks and e-wallets nationwide.
Modernizing the remittance corridor
The integration represents a significant shift from legacy financial infrastructure to a more “internet-native” economy. For Overseas Filipino Workers (OFWs) and global enterprises, the partnership promises a trifecta of benefits: lower fees, competitive FX rates, and near-instant fund access.
Unlike traditional banking routes that often involve multiple intermediaries and days of delay, the CPN integration allows financial institutions to settle directly in Philippine Pesos (PHP) via Coins.ph. This streamlined process is supported by real-time status updates, offering a level of transparency rarely seen in conventional cross-border transfers.
“Joining Circle Payments Network makes the Philippine Peso a native part of the internet economy,” said Wei Zhou, CEO of Coins.ph. “We’re helping to modernize how value moves into the Philippines by reducing the costs and delays often associated with legacy infrastructure, while improving the speed and predictability of local payouts.”
Strengthening local infrastructure
The partnership arrives at a time when the Philippines continues to be one of Southeast Asia’s most dynamic markets for digital finance.
Irfan Ganchi, SVP of Product Management, Payments at Circle, noted that enabling PHP payouts through CPN strengthens local capabilities and supports a shared vision for an “interoperable financial system.”
The technical heavy lifting is managed by Circle Technology Services, LLC (CTS), the operator of CPN. While CTS functions as a technology service provider rather than a fund manager, it allows global financial institutions to communicate securely and settle directly with one another.
A crypto-native veteran expands its reach
Founded in 2014, Coins.ph has long been the premier cryptocurrency exchange in the Philippines.
As a dual-licensed entity under the Bangko Sentral ng Pilipinas (BSP) — holding both virtual asset marketplace and mobile wallet licenses — the platform has evolved into an all-in-one app for millions of users.
This latest integration with the Circle Payments Network reinforces Coins.ph’s role as a critical bridge between traditional finance and digital assets, ensuring that as the global economy moves toward blockchain-based settlement, the Philippines remains at the forefront of the transition.
