Global remittance firm Remitly and Philippine crypto exchange Coins.ph have partnered to launch a stablecoin-powered remittance rail that promises faster, cheaper, and near-instant money transfers to the Philippines, as stablecoins gain traction as mainstream financial infrastructure.
The collaboration enables Remitly to process funds from all its sending countries — spanning more than 170 markets — directly through Coins.ph’s regulated local infrastructure.
The new setup leverages stablecoin technology to reduce settlement times and lower transfer costs for overseas Filipinos, particularly those in major remittance corridors such as the United States and Canada.
Remitly currently serves an estimated 8.9 million quarterly active users worldwide. The US and Canada alone account for roughly 45% of total remittances to the Philippines, home to about four million overseas Filipino workers (OFWs) in the two countries.
Under the new rail, fiat funds sent in US or Canadian dollars are converted into stablecoins, enabling near-real-time settlement with minimal latency. Recipients receive Philippine pesos directly into their Coins.ph PHP e-wallets or linked bank accounts.
“Stablecoins are rapidly shifting from niche technology to essential global infrastructure,” Coins.ph CEO Wei Zhou said. “By partnering with a trusted global leader like Remitly, we are democratizing finance — cutting costs and delivering near real-time transfers so every dollar saved gives overseas Filipinos and their families more value and financial resilience.”
Gene Nigro, vice president for business development at Remitly, said the integration aligns with the company’s broader mission. “By integrating stablecoin technology with our trusted global network, we are accelerating our mission to transform lives with trusted financial services, ensuring that every dollar means more for the families that rely on these essential transfers.”
Stablecoins move to center stage
The partnership comes as stablecoins increasingly move into the regulatory and commercial mainstream.
Zhou, speaking in a recent interview with ANC’s Market Edge, said Coins.ph is positioning stablecoins as a core pillar of its growth strategy heading into 2026.
“The next phase of growth for crypto is stablecoins,” Zhou said, noting that regulatory frameworks are taking shape in markets such as the US, Europe, Hong Kong, and Singapore. Coins.ph currently supports major US dollar-backed stablecoins across multiple blockchains, including free deposit and withdrawal options designed to encourage everyday use.
Beyond retail remittances, Coins.ph is also opening its stablecoin rails to businesses. Through products such as Coins Web Pay and its crypto-as-a-service offerings, the platform aims to help payment firms, BPOs, payroll providers, and financial institutions lower remittance costs, improve working capital efficiency, and offer crypto services to their own customers.
“We see ourselves as an enabler,” Zhou said. “We’ve built our tech stack not just for our users, but so businesses and banks in the Philippines can integrate crypto, stablecoins, and blockchain into their services.”
Building for scale and everyday finance
Founded in 2014, Coins.ph began as a crypto on-ramp but has since evolved into an all-in-one financial app that blends digital assets with everyday financial tools. The company is expanding beyond crypto trading into payments, remittances, and other financial products, with plans to add cards and broader investment options.
Zhou said Coins.ph is also working to bring Filipino-built crypto projects to a global audience, as the company expands its footprint into markets such as Brazil, Australia, Thailand, and parts of Africa.
“Our core is Filipino, but our ambition is global,” Zhou said in a separate interview with FintechNewsPH. “We want to bring Filipino projects and entrepreneurs in the crypto space to the world.”
As stablecoins move from experimentation to real-world utility, the Remitly–Coins.ph partnership underscores how blockchain-based rails are increasingly being used to solve long-standing challenges in cross-border payments — particularly in remittance-heavy markets like the Philippines, where speed, cost, and accessibility remain critical.
