Coins.ph and Pays0 Join Forces to Revolutionize PHP-to-Crypto Transactions in the Philippines

A groundbreaking partnership between Coins.ph, a leading cryptocurrency exchange in the Philippines, and Pays0, a Bangko Sentral ng Pilipinas (BSP)-licensed electronic money issuer and payment systems operator, is set to redefine how Filipinos engage with digital finance. This collaboration enables direct conversions between Philippine pesos (PHP) and cryptocurrencies through Pays0’s platform, targeting Overseas Filipino Workers (OFWs), businesses, and the underbanked with faster, cheaper, and more secure financial solutions powered by blockchain technology.

• Core Offering: Seamless PHP-to-crypto and crypto-to-PHP conversions via Pays0’s platform.
• Target Users: OFWs for remittances, businesses for cross-border payments, and the underbanked for financial access.
• Tech Advantage: Utilizes stablecoins and blockchain for cost efficiency, speed, and security.

A Remittance Lifeline in Dire Need of Disruption

The Philippines is a remittance-driven economy, with millions of families relying on funds sent by OFWs from countries like the United States, Singapore, Saudi Arabia, and the United Arab Emirates. According to the BSP, personal remittances climbed 2.6% year-on-year to a staggering $9.40 billion in Q1 2025, up from $9.15 billion in the same period of 2024. Cash remittances alone hit $8.44 billion in the first three months of 2025, reflecting a 2.7% growth. These numbers aren’t just stats—they’re a testament to the sweat and sacrifice of Filipinos abroad. Yet, traditional remittance channels have long been a predatory mess, with fees gouging up to 5-10% per transaction and processing times dragging on for days or even weeks due to bureaucratic middlemen. It’s a broken system ripe for a blockchain beatdown.

Enter the Pays0 and Coins.ph partnership, which aims to flip the script by leveraging stablecoins like USDT—a cryptocurrency pegged to the U.S. dollar to avoid the wild price swings of assets like Bitcoin—and decentralized ledger technology (DLT), the core of blockchain that records transactions on a transparent, tamper-proof system without needing banks or intermediaries. Picture an OFW in Riyadh sending money to their family in Quezon City: instead of losing a chunk to fees and waiting days, the transfer happens in minutes via a digital wallet, with costs slashed to a fraction, thanks to innovative PHP-to-crypto conversion benefits. For the uninitiated, a crypto wallet is simply a digital app or tool to store and manage cryptocurrencies securely, while a private key acts like a secret password granting access to those funds—lose it, and you’re screwed, so guard it like your life depends on it.

Penny Jing, CEO and Founder of Pays0, articulated the mission behind this collaboration with precision.

“The collaboration with Coins.ph is a key step in building a future-oriented, inclusive financial ecosystem. We have not only seen the urgent need for modern financial services in businesses, but also the strong desire from everyday users for compliant and comprehensive financial tools, including digital assets.”

Wei Zhou, CEO of Coins.ph, doubled down on the transformative potential of blockchain tech.

“From businesses optimizing their financial operations to individuals seeking efficient remittance options, this partnership highlights how blockchain technology is leading innovation and enables more user-centric financial solutions.”

Beyond Remittances: Cross-Border Business and Financial Inclusion

This partnership isn’t just about helping OFWs—it’s also a game-changer for businesses navigating the murky waters of cross-border payments. Imagine a small exporter in Davao sending goods to Malaysia: traditional bank transfers often mean hefty currency conversion fees and delays that choke cash flow. With direct PHP-to-crypto conversions integrated into Pays0’s platform, as detailed in the Pays0 and Coins.ph partnership compliance with BSP regulations, these transactions could clear faster and cheaper, letting businesses reinvest savings instead of feeding the bloated coffers of financial gatekeepers. It’s a practical use case of blockchain that cuts through the red tape of B2B payments—think of it as a digital express lane bypassing the old toll roads.

Equally critical is the focus on financial inclusion. Nearly 44% of the bankable population in the Philippines remains unbanked or underbanked, often due to lack of documentation, distrust in centralized systems, or living in remote areas with no bank branches. This partnership offers a lifeline through regulated digital platforms, allowing anyone with a smartphone to access financial services—whether they’re in the heart of Metro Manila or a far-flung barangay with patchy internet. It’s not just tech for the geeks; it’s a stepping stone for everyday Filipinos to join the digital economy, no paperwork required, aligning with broader digital finance trends in the Philippines for 2025.

Regulatory Backbone: Trust Under BSP Oversight

Before we get too starry-eyed, let’s talk trust. The crypto space is a wild west, riddled with scams and rug pulls that prey on the naive. What sets this partnership apart is its regulatory grounding. Both Pays0 and Coins.ph operate under strict BSP oversight, with Coins.ph licensed as a virtual asset service provider (VASP). This isn’t some shady outfit promising 100x returns overnight—it’s a compliant operation backed by the central bank’s framework for electronic money and digital assets, as outlined in discussions about Coins.ph’s role in the Philippine crypto landscape. The BSP itself has underscored the importance of remittances to the nation’s economy.

“The sustained growth in personal remittances continues to support domestic consumption and economic activity in the Philippines. The steady flow of funds from Filipinos overseas remains a critical lifeline for many families and communities across the country.”

This regulatory stamp isn’t just a formality; it’s a shield against the chaos that often taints crypto ventures, ensuring users can engage with confidence rather than crossing their fingers and hoping for the best.

The Flip Side: Challenges That Can’t Be Ignored

Now, let’s cut the hype and face the gritty reality. Blockchain remittances sound sexy, but they’re not a magic bullet. Cybersecurity is a glaring issue—hacks and phishing attacks can drain wallets faster than you can say “private key.” Just look at the recent spate of breaches in the region; one wrong click, and your life’s savings vanish into the digital ether. Then there’s the digital literacy gap. Not every OFW or rural farmer knows how to navigate a crypto wallet or secure their funds—hell, even tech-savvy folks mess up. Without robust education, this tech risks being a toy for the elite rather than a tool for the masses, a concern echoed in community discussions on platforms like Reddit regarding blockchain remittances.

Infrastructure is another hurdle. While smartphone penetration is climbing, internet access in rural Philippines hovers around 60%, with spotty connections plaguing remote areas. Blockchain is useless if you can’t even load the app. And let’s not pretend fintech is immune to homogenization. If partnerships like this just mimic traditional banking with a crypto sticker slapped on, they’re not disrupting jack—they’re just repackaging the same old garbage. True innovation demands bold moves, not press release buzzwords.

Stablecoins vs. Bitcoin: A Necessary Compromise?

As a Bitcoin maximalist, I’ll admit a grudging respect for stablecoins in this context. Bitcoin remains my north star—the ultimate decentralized store of value and future of money—but it’s not built for the microtransactions and stability remittances demand. Stablecoins like USDT, and even alternatives like USDC, dominate here due to their pegged value and liquidity, especially in Asia, offering significant benefits for OFW remittances with speed and lower fees. That said, USDT isn’t flawless; controversies over Tether’s reserves raise eyebrows about whether it’s truly backed 1:1 by dollars. Still, for now, it’s a practical bridge to onboard users into crypto.

Looking ahead, Bitcoin could still carve a niche in remittances via Layer 2 solutions like the Lightning Network, a secondary layer that enables fast, near-zero-fee transactions on top of Bitcoin’s secure base. It’s not mainstream yet, but it aligns with the long-term vision of decentralization over centralized stablecoin issuers. For advocates of effective accelerationism—pushing tech adoption at warp speed—this partnership is a stepping stone. It’s not pure Bitcoin, but it’s dragging people into the fold, one cheap transfer at a time.

The Bigger Picture: Fintech Boom and Global Parallels

Zooming out, this collaboration mirrors a fintech explosion in the Philippines, fueled by a young, tech-hungry population and digital payment adoption surpassing 50% as of 2023. The BSP is fanning the flames with new digital bank licenses and experiments like PHPX, a Philippine Peso stablecoin on the Hedera network. But it’s not just a local story—countries like Argentina and Brazil are also turning to stablecoins for remittances and wealth preservation amid economic turmoil. This global shift shows blockchain isn’t a fad; it’s a fundamental rewrite of financial rails, as explored in insights on how blockchain aids remittance solutions.

Yet, a shadow looms with the BSP’s flirtation with Central Bank Digital Currencies (CBDCs). State-backed digital pesos could either complement or compete with private platforms like Pays0 and Coins.ph, raising questions about whether governments will tighten the leash on decentralized tech. Will blockchain truly level the playing field, or are we hyping a tool that could be co-opted by the same powers it aims to disrupt? Only time will tell, but we’ll be watching every move, especially as blockchain-based remittance solutions continue to evolve in the Philippines.

Key Questions and Takeaways on PHP-to-Crypto Innovation

• How does the Coins.ph and Pays0 partnership benefit Filipinos with remittances?
  It offers direct PHP-to-crypto and crypto-to-PHP conversions, cutting costs and accelerating transfers for OFWs using blockchain and stablecoins like USDT.
• What role does blockchain technology play in transforming remittances in the Philippines?
  Blockchain eliminates costly intermediaries, delivers near-instant transactions, and secures funds on transparent ledgers, revolutionizing remittances for millions.
• Why is financial inclusion a priority for this crypto collaboration?
  With nearly half of Filipinos unbanked or underbanked, this regulated platform provides access to digital finance, empowering both rural and urban communities.
• How does BSP regulation impact trust in PHP-to-crypto services?
  BSP oversight ensures compliance and legitimacy for Coins.ph and Pays0, safeguarding users from the rampant scams that plague the crypto space.
• What challenges could stall blockchain adoption for remittances?
  Cybersecurity risks, digital illiteracy, and poor rural internet access are major hurdles, demanding education and infrastructure to drive widespread success.
• Can Bitcoin compete with stablecoins in remittances down the line?
  While stablecoins lead for stability, Bitcoin’s Lightning Network could enable fast, low-cost transfers in the future, aligning with pure decentralization goals.

The road ahead for digital finance in the Philippines is equal parts exhilarating and treacherous. Partnerships like this one between Pays0 and Coins.ph are a tangible step toward cheaper, faster, and more inclusive financial systems. They’re not perfect, and they’re not Bitcoin-exclusive, but they’re a hell of a start in proving blockchain’s worth to the masses. As we push the boundaries of decentralization, disrupt the status quo, and accelerate toward a freer financial future, every transaction counts—whether it’s a remittance from Dubai or a B2B payment in Cebu. Let’s keep the pressure on, question everything, and build a world where money works for people, not against them.