MANILA, Philippines--(BUSINESS WIRE)--Coins.ph, the Philippines' leading crypto-native financial services platform, has joined Circle Payments Network (CPN) to enable faster, more cost-efficient cross-border payments into the Philippines for institutions, platforms, enterprises and end users.
As a beneficiary financial institution (BFI) on CPN, Coins.ph provides payout capabilities across its local network of over 120 local banks and e-wallets, streamlining settlement into Philippine Pesos (PHP) through compliant, blockchain-powered rails.
Modernizing Cross-Border Value Movement
This integration aims to simplify and modernize global value movement into the Philippines. Financial institutions across CPN can now benefit from near-instant settlement and direct local currency distribution via Coins.ph.
For end users, including Overseas Filipino Workers (OFWs) and their families, as well as enterprises, this infrastructure translates to lower fees, competitive FX rates, and near-instant access to funds. Real-time payment status updates also provide transparency throughout the process.
"Joining Circle Payments Network makes the Philippine Peso a native part of the internet economy," said Wei Zhou, CEO of Coins.ph. “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.”
“Coins.ph’s integration with CPN strengthens local payout capabilities in the Philippines,” said Irfan Ganchi, SVP of Product Management, Payments at Circle. “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.”
About Coins.ph
Coins.ph is an all-in-one financial app for millions, seamlessly fusing traditional finance with digital assets. Established in 2014, it stands as the Philippines' premier cryptocurrency exchange. Licensed by the BSP as both a virtual asset marketplace and a mobile wallet, the platform empowers users to trade, execute payments, and utilize crypto remittance for sending and receiving funds quickly and affordably, all in one secure place.
About Circle Payments Network
Circle Technology Services, LLC (CTS) is the operator of Circle Payments Network (CPN) and offers products and services to financial institutions that participate in CPN to facilitate their CPN access and integration. CPN connects participating financial institutions around the world, with CTS serving as the technology service provider to participating financial institutions. While CTS does not hold funds or manage accounts on behalf of customers, we enable the global ecosystem of participating financial institutions to connect directly with each other, communicate securely, and settle directly with each other. CTS is not a party to transactions between participating financial institutions facilitated by CPN who use CPN to execute transactions at their own risk. Use of CPN is subject to the CPN Rules and the CPN Participation Agreement between CTS and a participating financial institution.
Contacts
Media Contact:
Coins.ph
Amira Alawi
Global Marketing Director
E: amira.alawi@coins.ph