Remitly, a global digital money transfer provider, and Coins.ph, the Philippines’ leading licensed crypto exchange, are joining forces to make sending money home faster, cheaper, and simpler. Their new partnership leverages stablecoins—a type of digital asset pegged to traditional currencies—to enable near-instant remittances from key markets like the US and Canada directly to the Philippines.
For millions of overseas Filipino workers, speed and cost matter. The US and Canada alone account for 45% of remittances to the Philippines, and with about four million Filipinos working abroad in these countries, this innovation could make a real difference for families waiting for essential funds.
Through this solution, Remitly converts sent flat (either in US or Canadian dollars) into stablecoins, which are then settled almost instantly via Coins.ph’s regulated local infrastructure. Recipients can access their funds directly in PHP, either in their Coins.ph e-wallet or connected bank accounts—no lengthy waits, no high fees.
“Stablecoins are rapidly shifting from niche technology to essential global infrastructure. By partnering with a trusted global leader like Remitly, we are democratizing finance by leveraging stablecoins to cut costs and provide near real-time transfers, ensuring every dollar saved gives overseas Filipinos and their families more value and financial resilience,” said Wei Zhou, Coins.ph Chief Executive Officer.
Gene Nigro, Remitly’s VP of Business Development, added, “By integrating stablecoin technology with our trusted global network, we are accelerating our mission to transform lives with trusted financial services, ensuring that every dollar means more for the families that rely on these essential transfers.”
