Cryptocurrency exchange Coins.ph has partnered with global remittance provider BCRemit to launch a new blockchain-based remittance service that aims to make sending money to the Philippines faster and more affordable.
Starting Nov. 1, Filipinos in the United Kingdom, European Union, United States, and Canada can send money home through BCRemit using stablecoin technology.
The new system converts the sender’s currency into a stablecoin such as USDC or USDT, transfers it instantly via blockchain, and then converts it back into Philippine pesos upon arrival.
Funds are deposited directly into the recipient’s Coins.ph account and can be transferred to local banks or e-wallets.
The process allows near-instant transfers, compared to the three to five days typical of traditional remittance methods. According to both firms, users can save up to 80 percent in fees by bypassing bank intermediaries and exchange rate markups.
Both Coins.ph and BCRemit are regulated by the Bangko Sentral ng Pilipinas (BSP). Coins.ph is licensed as a Virtual Currency Exchange and Electronic Money Issuer, while BCRemit operates as a registered Money Service Business.
Coins.ph CEO Wei Zhou said the partnership supports the company’s mission to make digital finance accessible to Filipinos.
“By integrating stablecoin rails into remittances, we’re unlocking near real-time, low-cost transfers that give overseas Filipinos and their families more value and transparency,” he said.
BCRemit founder and CEO Oliver Calma said the initiative addresses the needs of millions of overseas Filipino workers in major remittance markets.
He added that a QR-based payment feature will be introduced in 2026 to enable outbound remittances from the Philippines to the UK, Europe, US, and Canada.
The new service can be accessed through BCRemit’s website or app, with recipients required to have verified Coins.ph accounts.
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