Coins.ph

Coins.ph is a Philippine fintech platform that combines everyday payments, cryptocurrency trading, and cross-border remittances in a single BSP-regulated mobile app. Founded in 2014 and operated by Betur Inc and DCPay Philippines Inc, it has processed over $20 billion in total volume and serves more than 5 million verified users. Its most significant blockchain move in recent years is PHPC — the Philippines' first central-bank-regulated peso stablecoin — which launched on Solana in 2024, extending the app's reach into DeFi and on-chain foreign exchange.

Core Mechanism

Coins.ph operates as a multi-license e-wallet and virtual asset service provider (VASP). It holds EMI (Electronic Money Issuer) and EPFS (Electronic Payment and Financial Services) licenses from the Bangko Sentral ng Pilipinas, the Philippine central bank. Users can fund their accounts via bank transfer or cash-in partners, then access payments, trading, and transfers from a unified PHP and USDT wallet. Cryptocurrency positions are held on the platform; on-chain withdrawal is also supported across a range of networks.

The platform runs two trading tiers: a consumer-facing buy/sell interface for straightforward crypto purchases in PHP, and Coins Pro, an advanced order-book exchange with live pricing, limit orders, and real-time market data for more active traders. A TradeDesk service handles institutional-sized orders via a dedicated desk.

Key Features

Payments and bills. Coins.ph connects to over 120 billers across utilities, government services, and financial institutions. Users can pay bills, buy mobile load, or scan QRPh-standard QR codes to pay at physical merchants — a standard now supported by most Philippine banks and e-wallets.

Remittances. International money transfers route through USDT conversion at live rates, bypassing traditional correspondent banking delays. A dedicated domestic transfer function supports wallet-to-wallet sends in real time.

Crypto trading. Over 170 cryptocurrencies are available for purchase against PHP, with Bitcoin and USDT as the primary trading pairs. The platform provides live order books and market data.

Business tools. Merchants can accept in-store QR payments or integrate WebPay for online checkout. A partnership with Skyro, announced at the ASEAN Tech Summit, extends payout infrastructure to business disbursements. Integrations with Bayad expand bill collection reach, and Clear Junction adds European payment corridor support.

PHPC: The Philippine Peso Stablecoin

PHPC is a fully collateralized peso stablecoin issued by Coins.ph and approved under the BSP Regulatory Sandbox Framework. It entered the sandbox in April 2024 and exited in June 2025, gaining unlimited minting capacity after demonstrating compliance under live conditions.

The token pegs 1 PHPC to 1 PHP, backed 100% by a basket of cash, time deposits, and short-term money market instruments held in Philippine banks. Proof-of-Reserves audits are conducted periodically to verify backing.

PHPC launched first on Ronin (the Sky Mavis sidechain) and Polygon, then expanded to Solana in late 2024 following an announcement by CEO Wei Zhou at Solana Breakpoint 2024 in Singapore. The Solana deployment was chosen for its high transaction throughput and low fees — both important for retail-sized remittances and DeFi composability.

On Solana, PHPC targets three specific use cases: cross-border remittances with near-instant settlement, DeFi platform integration, and on-chain FX trading in pairs such as USDC/PHPC, USDT/PHPC, and EURC/PHPC. The Philippines received $33.5 billion in inbound remittances in 2023, making low-cost cross-border flows a material opportunity for the stablecoin.

A partnership with Sky Mavis targets PHPC acceptance at over 600,000 QRPh-enabled merchants nationwide through the Ronin wallet, pending final regulatory approval. A separate integration with the Tempo blockchain enables faster USDT and USDC settlement within the app.

Team and Background

Coins.ph was founded in 2014, making it one of the oldest crypto-focused fintech platforms operating in Southeast Asia. The company has operated under continuous BSP supervision since that year and holds both EMI and EPFS licenses. CEO Wei Zhou, also CEO of the associated Coins.xyz entity, led the Breakpoint 2024 announcement and has publicly positioned the app as a tool for Filipino families and OFWs (Overseas Filipino Workers) managing peso exposure and international transfers.

Audit and Security Status

PHPC is subject to scheduled Proof-of-Reserves audits, with 100% collateral coverage and full reimbursement obligations specified in the whitepaper. The platform maintains active security communications around phishing awareness and wallet permission hygiene. Beyond PHPC reserve auditing, no public third-party smart contract audits were identified in available documentation.

Solana Ecosystem Fit

Coins.ph connects Solana to the Philippine peso economy in a regulated, audited form. PHPC on Solana provides a native on-chain representation of PHP — otherwise absent from DeFi liquidity — enabling FX pairs denominated in pesos to exist on-chain. This gives DeFi protocols a BSP-compliant entry point for Philippine users and offers OFWs and global traders a direct path to move peso-equivalent value using Solana's speed and fee economics. For Solana's ecosystem in Southeast Asia specifically, PHPC is among the few nationally regulated, central-bank-approved stablecoins available on the network.