Manila, Philippines – Coins.ph recently partnered with Remitly, a digital financial services provider specialising in international remittances, to introduce a stablecoin-powered payment rail designed to improve the speed and cost efficiency of cross-border money transfers to the Philippines.
The initiative is aligned with the increasing adoption of stablecoins in global remittance and payments markets, where digital assets are being used to streamline settlement processes and reduce friction in international fund flows.
Through the new arrangement, Remitly will process funds from its sending markets through Coins.ph’s regulated local infrastructure. Remitly operates across more than 170 countries and serves around 8.9 million quarterly active users.
“By partnering with a trusted global leader like Remitly, we are democratising finance by leveraging stablecoins to cut costs and provide near real-time transfers, ensuring every dollar saved gives overseas Filipinos and their families more value and financial resilience,” Wei Zhou, chief executive officer of Coins.ph, stated.
The solution is particularly relevant for remittance corridors from the United States and Canada, which together account for approximately 45% of total remittance inflows to the Philippines and support an estimated four million overseas Filipino workers.
The cross-border payment flow uses a stablecoin settlement mechanism, with funds sent in US or Canadian dollars converted into stablecoins before being cleared locally. This approach enables near-real-time settlement with reduced latency, allowing recipients to receive Philippine peso funds directly into their Coins.ph e-wallets or linked bank accounts.
“Integrating stablecoin technology with our trusted global network helps accelerate our mission to transform lives with trusted financial services, ensuring that every dollar means more for the families that rely on these essential transfers,” Gene Nigro, VP of business development at Remitly, commented.
By combining Remitly’s global remittance network with Coins.ph’s locally licensed platform, the collaboration seeks to enhance the reliability and efficiency of cross-border payments into the Philippines while maintaining regulatory compliance.
