MANILA, Philippines & London, United Kingdom – Coins.ph, the Philippines’ largest crypto exchange and one of the fastest-growing digital wallet platforms, today announced a major partnership with global remittance service provider BCRemit that will enhance how overseas Filipinos send money home.
For years, overseas Filipinos have been burdened by the high costs of traditional remittance channels, which typically charge fees of 5% to 10% of the transaction amount, on top of hidden markups in exchange rates. These slow transfers often take days to settle, further reducing the final amount received by families. Starting November 1, 2025, Filipinos in the United Kingdom, the European Union, the US, and Canada can bypass these inefficiencies. Thanks to a new stablecoin-powered payment corridor from Coins.ph and BCRemit, they can now send money to the Philippines instantly and for a fraction of the cost—saving up to 80% or more compared to traditional bank transfer fees.
How does it work?
The technology behind the stablecoin rails is simple. When a money sender initiates a transfer through BCRemit’s web or app, the sender’s currency (example €,£,$), is instantly converted into a stablecoin like USDC or USDT—a type of digital money with a fixed, stable value.
This stablecoin then instantly travels across a high-speed blockchain network. Once it reaches the Philippines, Coins.ph instantly converts the stablecoin back into Philippine Pesos (PHP) and deposits the funds directly into the recipient’s Coins.ph web or app account. The recipient can then move the funds into his preferred e-wallet or bank account.
This process allows recipients to receive the money in minutes, unlike traditional remittance methods that can sometimes take 3-5 days. It also cuts out multiple traditional bank intermediaries, allowing recipients to receive more out of the remitted funds.
In 2026, Coins.ph and BCRemit also intend to roll out a QR-Payment Collection feature for outbound remittances . This means that senders will be able to pay via QR and thereby facilitate outbound payments from the Philippines back to the UK, Europe, US and Canada.
Money senders can enjoy peace of mind when sending money as the partnership is grounded in regulatory compliance as both Coins.ph and BC Remit are licensed by the Bangko Sentral ng Pilipinas (BSP). Coins is licensed as both a Virtual Currency Exchange (VCE) and an Electronic Money Issuer (EMI) while BCRemit holds a license to operate as a Money Service Business.
“This collaboration with BCRemit completely aligns with the company’s mission to make innovative digital finance accessible to every Filipino,” said Wei Zhou, Coins.ph Chief Executive Officer. “By integrating stablecoin rails into remittances, we’re unlocking near real-time, low-cost transfers that give overseas Filipinos and their families more value, transparency, and financial freedom.”
“Millions of Filipino workers and their families across the UK, Europe, the US, and Canada deserve a remittance solution that matches the speed and efficiency of the modern digital economy. Our partnership with Coins.ph is delivering just that: a new stablecoin-powered rail that instantly benefits these millions,” said Oliver Calma, Founder and CEO of BCRemit referring to the more than five million Filipinos in the region.
“Looking ahead, the planned integration of QR-Payment Collection early next year will be a huge leap, enabling not only inbound flows but also outbound remittances, truly creating a full financial bridge that keeps more hard-earned money in the hands of Filipino families,” Calma added.
To start sending remittances powered by stablecoin technology, create your BCRemit account now and get ready to send money faster than ever. Experience near-instant deposits powered by having a fully verified Coins.ph web or app account. For more details, visit www.coins.ph or www.bcremit.com.
