Coins.ph Expands QRPh Crypto Payments to Include Bitcoin and Ethereum, Enhancing Accessibility for Filipinos

Coins.ph Expands QRPh Crypto Payments to Include Bitcoin and Ethereum

In a significant move for the Philippine digital asset landscape, Coins.ph has announced the expansion of its QRPh crypto payments feature to support Bitcoin (BTC) and Ethereum (ETH). This update enables users to seamlessly spend these popular cryptocurrencies at approximately 700,000 QRPh-enabled merchants across the nation.

The payment system leverages QRPh, the national QR standard developed by the Bangko Sentral ng Pilipinas (BSP), allowing for automatic conversion of digital assets into Philippine pesos at the point of sale. This rollout follows the successful integration of stablecoins Tether (USDT) and USD Coin (USDC) into the national QR payment infrastructure, marking a significant step toward broader cryptocurrency adoption in everyday transactions.

Streamlined Transaction Process

According to a company statement, the new feature simplifies the transaction process by automatically handling asset conversion and merchant payment in a single step at checkout. In the event of a transaction failure, the system reverses the asset conversion, ensuring that successful merchant refunds are processed in Philippine pesos. Coins.ph has indicated that additional tokens and integrations are on the horizon, further enhancing user experience.

The expansion comes at a time when the Philippines is emerging as a prominent player in the digital asset market, boasting over 15 million cryptocurrency users and an impressive $38 billion in annual remittances.

Targeting the Remittance Market

During a recent company event, Coins.ph Global Marketing Director Amira Alawi highlighted the platform’s focus on the Overseas Filipino Worker (OFW) remittance market. Traditional remittance fees, which typically range from 3% to 5%, can be a burden for many. Alawi emphasized that the new integration allows recipients to retain funds in USDT or convert them to Philippine pesos directly on their mobile devices, providing a more cost-effective solution.

Additionally, Coins.ph is positioning itself as a backend infrastructure layer for traditional business-to-business (B2B) entities and remittance groups, facilitating cheaper cross-border transfers, especially on weekends and holidays. The platform currently operates cross-border mechanisms in Thailand, Brazil, and Mauritius, with plans to launch in Hong Kong soon. The ultimate goal is to make the QRPh payment system borderless.

A Vision for the Future

“The future of crypto adoption will be driven by utility,” stated Coins.ph CEO Wei Zhou. “By expanding QRPh crypto payments to Bitcoin and Ethereum, we’re making digital assets practical, accessible, and relevant to everyday Filipino life.”

As Coins.ph continues to innovate and expand its offerings, the company is poised to play a pivotal role in shaping the future of cryptocurrency in the Philippines and beyond.

For more updates on the evolving crypto landscape in the Philippines, stay tuned to our latest episodes and articles.

This article is published on BitPinas: Coins.ph Expands QRPh Crypto Payments to Support Bitcoin and Ethereum.