Digital remittance firm Remitly and Philippine-licensed crypto exchange Coins.ph have launched a stablecoin-powered remittance solution designed to enable near-instant, lower-cost money transfers from key overseas markets to the Philippines.
The partnership leverages the growing global adoption of stablecoins as digital assets increasingly move beyond niche use cases and into mainstream financial infrastructure.
Under the new setup, funds sent through Remitly from its global network — covering more than 170 countries and serving about 8.9 million quarterly active users — are processed directly via Coins.ph’s regulated local infrastructure.
The initial focus includes corridors from the United States and Canada, which together account for about 45% of total remittances to the Philippines. There are an estimated four million overseas Filipino workers in those two countries.
The new rail converts fiat currency — US or Canadian dollars — into stablecoins, allowing near-real-time settlement with minimal latency. Recipients receive Philippine pesos directly into their Coins.ph PHP e-wallets or linked bank accounts.
Coins.ph chief executive officer Wei Zhou said the collaboration reflects the maturing role of stablecoins in global finance.
“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.”
Remitly vice president for business development Gene Nigro said the integration strengthens the company’s core mission.
“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.”
