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Philippine digital asset exchange Coins.ph has entered into a strategic partnership with digital financial services provider Remitly to roll out a stablecoin-enabled remittance solution targeting Overseas Filipino Workers (OFWs) in the United States and Canada.
The new service is designed to enable near-instant, low-cost cross-border transfers by converting foreign fiat currencies—specifically US and Canadian dollars—into stablecoins for settlement in Philippine pesos. Funds are credited directly to recipients’ Coins.ph e-wallets or linked bank accounts.
The initiative addresses a major remittance corridor. An estimated four million OFWs live in the US and Canada, and remittances from these two countries account for about 45 per cent of total inflows to the Philippines.
Under the arrangement, Remitly uses a stablecoin payment rail to process international transfers. Fiat funds sent by users abroad are converted into stablecoins on Remitly’s platform before being settled locally in pesos, significantly reducing processing times and transaction costs.
Coins.ph Chief Executive Officer, Wei Zhou, said the collaboration reflects a broader push to embed digital assets into everyday financial infrastructure. He noted that leveraging stablecoins can lower costs and deliver near real-time transfers, improving value and financial resilience for overseas Filipinos and their families.
While the service is initially focused on North America, the underlying technology could be expanded across Remitly’s broader global footprint, which spans more than 170 countries and serves approximately 8.9 million quarterly active users.
Remitly’s Vice President of Business Development, Gene Nigro, said the integration of stablecoin technology supports the company’s mission to deliver more efficient and impactful remittance services. According to him, the goal is to ensure that a greater share of every dollar sent reaches the families who depend on these transfers.
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