Coins.ph said it has joined the Circle Payments Network to facilitate faster and more cost-efficient cross-border payments into the Philippines for institutions, enterprises and individual users.
As a beneficiary financial institution on the network, the Philippine crypto-native platform provides payout capabilities across more than 120 local banks and e-wallets. The integration aims to streamline settlement into Philippine pesos through blockchain-powered infrastructure.
The partnership seeks to modernize global value movement into the country. Financial institutions on the network can now access near-instant settlement and direct local currency distribution.
For end users, including overseas Filipino workers and their families, the infrastructure is expected to result in lower fees, competitive exchange rates and real-time access to funds.
“Joining Circle Payments Network makes the Philippine peso a native part of the internet economy,” Coins.ph chief executive Wei Zhou said.
