MANILA, Philippines — Global digital remittance company Remitly has partnered with Coins.ph, the Philippines’ leading licensed crypto exchange and digital wallet, to launch a new remittance solution aimed at making money transfers to the Philippines faster, cheaper, and more accessible.
The collaboration leverages stablecoin technology to modernize cross-border payments, offering overseas Filipinos a more efficient way to send money home while ensuring recipients receive funds quickly in Philippine pesos.
Faster and More Affordable Transfers
Under the partnership, Remitly will use stablecoins—digital assets pegged to traditional currencies such as the US dollar—as an intermediary for remittances. Funds sent through Remitly are converted into stablecoins, transferred securely, and then settled into pesos through Coins.ph.
This approach significantly reduces processing time and transaction costs, allowing recipients to receive funds near-instantly compared to traditional bank-based remittance channels that can take days.
Money sent through the service can be received directly into Coins.ph e-wallets, where users can cash out to local banks, pay bills, purchase load, or use funds for daily transactions.
Boost for Overseas Filipino Workers
Remittances play a crucial role in the Philippine economy, with millions of Overseas Filipino Workers (OFWs) supporting families back home. The United States, Canada, and other overseas markets account for a large share of annual remittance inflows.
By improving speed and lowering fees, the Remitly–Coins.ph partnership aims to ensure that more of each peso sent reaches families, helping them cover essential expenses such as food, education, healthcare, and utilities.
What the Companies Say
Coins.ph executives said the partnership reflects the growing role of stablecoins as practical financial infrastructure, not just speculative assets. They emphasized that the solution supports financial inclusion by making cross-border payments more affordable and accessible.
Remitly, meanwhile, said the integration aligns with its mission to build trusted financial services that help immigrants and their families thrive, adding that stablecoin technology allows the company to improve efficiency while maintaining strong compliance standards.
Regulated and Secure
Coins.ph is fully regulated by the Bangko Sentral ng Pilipinas (BSP) as both a virtual asset service provider and remittance agent, ensuring the service complies with Philippine financial and consumer protection regulations.
Both companies stressed that security, transparency, and regulatory compliance remain central to the partnership.
A Step Toward Modern Remittances
The Remitly–Coins.ph collaboration highlights a broader shift in the global remittance industry, where fintech firms are increasingly adopting blockchain-based rails to improve speed, reduce costs, and expand access to financial services.
As demand for faster and more affordable money transfers continues to grow, the new solution positions both companies at the forefront of next-generation remittance services for the Philippines.