Global payments firm Veem and local digital wallet Coins.ph have expanded their partnership to support faster and cheaper payments from the United States and Canada to the Philippines, adding new digital settlement options, including stablecoins.
Under the expanded arrangement, Coins.ph continues to serve as one of Veem’s local payout partners in the Philippines, handling domestic disbursements for corporate payouts, contractor fees, and supplier payments.
The companies said the setup is designed to shorten settlement times and reduce costs compared with traditional international bank transfers, while remaining compliant with Philippine regulations.
The partnership targets persistent issues in cross-border payments to the Philippines, including high wire fees, unfavorable foreign exchange rates, and multi-day settlement delays.
These frictions are particularly felt by Filipino freelancers, virtual assistants, and small outsourcing firms that depend on regular payments from overseas clients.
Veem said its licensed collection infrastructure in North America now works alongside Coins.ph’s local payout rails. Funds are pre-positioned in US dollars, allowing Coins.ph, a BSP-licensed financial services provider, to conduct local compliance checks, convert funds to pesos at disclosed FX rates, and release payments through domestic channels.
The companies are also exploring digital settlement options such as USDC as part of future product development.
For US and Canadian businesses, the integration provides a single platform for managing mass payouts, tracking transactions, and reconciling payments to Philippine-based workers and suppliers. For recipients, the firms said the service enables quicker access to funds, wider payout options across banks and e-wallets, and lower overall costs.
“This partnership brings together Veem’s robust global payment network with Coins.ph’s deep local payout capabilities, creating a market-leading experience,” said Marwan Forzley, Veem CEO and co-founder.
“By leveraging the pre-funded model and Coins.ph’s local expertise, we can deliver a faster, cheaper, and far more scalable solution for paying the Philippines than traditional banks or remittance rails can offer. It is a win-win for our customers and the Filipino workers they rely on.”
Coins.ph chief executive Wei Zhou said the expanded collaboration aligns with the company’s goal of improving access to financial services.
“Partnering with Veem is a significant step forward in our mission to bring fast, affordable, and compliant financial services to the Philippines,” Zhou said.
“By combining Veem’s robust global payment network with Coins.ph’s regulated, localized expertise, we are not just speeding up transfers, we are empowering Filipino freelancers and small businesses by ensuring they get paid reliably, instantly, and with maximum value.”
