Coins.ph, one of the country’s leading digital asset platforms, is exploring new ways to expand the reach of its Philippine peso-pegged stablecoin, PHPC, through participation in the Arc public testnet, an enterprise-grade blockchain network launched by a subsidiary of Circle Internet Group, Inc. (NYSE: CRCL) — the company behind USD Coin (USDC).
The move marks another step in Coins.ph’s efforts to enhance the efficiency of digital payments and cross-border remittances, a key lifeline for millions of Filipinos working overseas.
Having completed the Bangko Sentral ng Pilipinas (BSP) Regulatory Sandbox Framework for PHPC in June 2025, the company is now preparing to file for expanded minting capacity and wider stablecoin applications in high-volume transactions and international transfers.
Wei Zhou, CEO of Coins.ph
“We are continuously evaluating technologies that can enhance the utility and efficiency of PHPC for all Filipinos,” said Wei Zhou, CEO of Coins.ph. “Arc Public Testnet presents a compelling environment to explore how we can further reduce the cost and increase the speed of remittances. Our goal is to build the next wave of local Web3 financial services on a foundation of robust and user-centric technology.”
Bringing digital bayanihan to financial innovation
If successful, Coins.ph’s participation in the Arc public testnet could enable PHPC to operate within an enterprise-grade blockchain ecosystem designed for stablecoin swaps and foreign exchange (FX) liquidity.
The result could be near-instant, 24/7 cross-border transfers at a fraction of current transaction costs — a significant potential benefit for Overseas Filipino Workers (OFWs) who send billions of pesos home each year.
Beyond remittances, the testnet also opens new opportunities for Coins.ph’s developers to experiment with decentralized finance (DeFi) and Web3 services, leveraging Arc’s Ethereum Virtual Machine (EVM)-compatible architecture. This compatibility allows developers to build and deploy new financial applications seamlessly while maintaining the stability of a peso-backed digital asset.
Balancing innovation and regulation
Coins.ph emphasized that its exploration of the Arc testnet is still subject to regulatory review and approval. The company reaffirmed its commitment to working closely with Philippine regulators to ensure that PHPC operates within a fully compliant and secure framework.
“We want to show that innovation and regulation can go hand in hand,” Zhou said. “PHPC’s development is guided by the same principle that has defined Coins.ph since day one — empowering Filipinos through accessible, transparent, and safe financial technology.”
About Coins.ph
Founded in 2014, Coins.ph is an all-in-one financial app licensed by the Bangko Sentral ng Pilipinas (BSP) as both a virtual asset service provider and mobile wallet. It enables users to trade digital assets, pay bills, and send or receive funds instantly and affordably — combining the convenience of traditional finance with the innovation of blockchain technology.
