Digital asset platform Coins.ph reported a sharp increase in trading activity in 2025, with monthly spot trading volume rising 327% year-on-year and surpassing $500 million (about ₱29.4 billion) in November.
The figure represents a nearly fourfold jump from the $117 million recorded in November 2024, based on the company’s latest available trading data. The exchange also logged a recent peak of $50 million in daily spot trading volume, its highest level to date.
Coins.ph attributed the surge largely to increased use of stablecoins such as USDT and USDC, which are pegged to fiat currencies like the US dollar and are increasingly being used for payments and transfers rather than speculative trading.
“These spot trading milestones are a testament to the critical role stablecoins are playing in modernizing Philippine finance,” said Coins.ph CEO Wei Zhou.
“It signals a strong market appetite for efficient, regulated digital asset trading, especially for our USDT-PHP and USDC-PHP pairs. We anticipate this robust demand will define the trajectory for Coins.ph and the broader digital asset market throughout 2026.”
The company said stablecoins are being adopted for cross-border payments, corporate payouts, contractor compensation, and supplier disbursements, offering an alternative to traditional banking channels in a country heavily reliant on remittances. The Philippines recorded $38.3 billion in remittance inflows in 2024.
Coins.ph also reported strong activity in its over-the-counter (OTC) desk, which caters to high-net-worth and institutional clients executing large transactions. The service is designed to handle trades exceeding ₱1 million without significantly affecting market prices.
The platform added that tighter bid-ask spreads — now as low as 3 basis points, compared with typical industry ranges of 12 to 35 basis points — have helped attract higher-volume traders by reducing transaction costs.
To support continued growth in stablecoin usage, Coins.ph said it has integrated with the Circle Payments Network to enable near-instant peso settlements across more than 120 domestic banks and e-wallets, alongside ongoing education campaigns promoting digital-asset use cases.
