Ronin, the blockchain developed by Sky Mavis, and local crypto platform Coins.ph are working on a plan that would allow the PHPC stablecoin to be used for everyday purchases through the Philippines’ QRPH system, potentially making crypto spendable at more than 600,000 merchants nationwide once regulatory approvals are secured.
The announcement, made during the YGG Play Summit, outlines an initiative to integrate PHPC — a Philippine peso–backed stablecoin issued on the Ronin network — with the country’s national QR code payment standard.
If approved, users would be able to pay with PHPC through the Ronin Wallet in the same way they currently use mobile wallets that support QRPH.
QRPH underpins billions of digital transactions in the Philippines each year as the Bangko Sentral ng Pilipinas (BSP) pushes toward greater cashless adoption.
Digital payments accounted for 57.4% of retail transactions in 2024, with more than two-thirds of person-to-merchant payments made digitally, according to BSP data.
The Philippines is also one of the world’s largest remittance destinations, receiving more than $40 billion last year — a scale that industry players say makes efficient and low-cost payment options increasingly important.
PHPC, launched in July 2024 under the BSP’s regulatory sandbox, is designed to maintain a 1:1 value with the Philippine peso. Reserves are managed by Coins.ph, a licensed virtual asset service provider.
Ronin and Coins.ph said the planned integration supports their broader goal of enabling more practical uses for digital assets in the region, including payments, savings, and remittances.
Sky Mavis co-founder Jeffrey Zirlin noted that the move builds on early experiments during the 2021 pandemic when some merchants began accepting tokens like SLP and AXS.
If regulators approve the initiative, PHPC could be added to the QRPH network as early as 2026.
