Coins.ph Expands Crypto Payment Network in the Philippines

Coins.ph has made a significant step towards increasing its presence in the Philippine market by expanding its QR-code crypto payment network. The company, which is the leading crypto platform in the country, has added support for Bitcoin (BTC) and Ethereum (ETH), enabling merchants to receive cryptocurrency payments through the country's standardized QR payment system.

The QRPH system, developed under the Bangko Sentral ng Pilipinas (BSP), automatically converts crypto into Philippine pesos at the point of sale. This move is expected to increase adoption of stablecoin payments in the Philippines, particularly among merchants who can now receive cryptocurrency payments without the need for conversion.

Wei Zhou, CEO of Coins.ph, stated that the addition of new tokens to its QRPH crypto payments feature is a significant achievement. He emphasized that this expansion is part of the company's plan to redefine what a digital wallet can do and make stablecoin payments more viable in the Philippines.