October 30, 2025 | 12:00am
MANILA, Philippines — Overseas Filipinos could soon send money home faster and at a lower cost as digital wallet platform Coins.ph and global remittance provider BCRemit announced a new partnership that will use stablecoin technology to power cross-border transfers starting Nov. 1.
The collaboration allows Filipinos in the United Kingdom, the European Union, the United States and Canada to remit funds instantly to the Philippines, cutting fees by as much as 80 percent compared to traditional channels that typically charge five to 10 percent in transaction costs and take several days to complete.
“This collaboration with BCRemit completely aligns with the company’s mission to make innovative digital finance accessible to every Filipino,” Coins.ph CEO Wei Zhou said in a statement.
“By integrating stablecoin rails into remittances, we’re unlocking near real-time, low-cost transfers that give overseas Filipinos and their families more value, transparency and financial freedom.”
Through this new stablecoin-powered payment corridor, money sent from abroad is first converted into a stablecoin such as USDC or USDT, digital currencies pegged to the dollar.
The stablecoin is then transmitted over a blockchain network before being converted back into pesos by Coins.ph and deposited directly into the recipient’s account. The process bypasses several banking intermediaries, enabling near real-time transfers and allowing recipients to get more from every remittance.
BCRemit founder and CEO Oliver Calma said the partnership directly addresses the needs of millions of Filipino workers and their families abroad, particularly in regions with large Filipino communities.
“Millions of Filipino workers and their families across the UK, Europe, the US, and Canada deserve a remittance solution that matches the speed and efficiency of the modern digital economy,” Calma said.
“Our partnership with Coins.ph is delivering just that: a new stablecoin-powered rail that instantly benefits these millions.”
Both firms emphasized that the service is built on a foundation of regulatory compliance. Coins.ph is licensed by the Philippine central bank as a virtual currency exchange and electronic money issuer, while BCRemit is authorized to operate as a money service business.
The companies also plan to expand the partnership next year with a QR payment collection feature, allowing Filipinos to make outbound payments from the Philippines to the UK, Europe, the US and Canada.
“Looking ahead, the planned integration of QR-Payment Collection early next year will be a huge leap, enabling not only inbound flows but also outbound remittances, truly creating a full financial bridge that keeps more hard-earned money in the hands of Filipino families,” Calma added.
Founded in 2014, Coins.ph is a cryptocurrency exchange offering digital payments, trading and remittance services. BCRemit, based in London, provides digital cross-border money transfers to Filipino and other diaspora markets, leveraging technology to make global remittances faster and more affordable.
