Coins.ph Expands QRPh Crypto Payments With BTC and ETH Support

• Users may easily switch between fiat and digital assets within a single checkout process since stablecoins are at the heart of the system.
• By scanning the national QR code standard created by the BSP, the integration enables users to transact at an estimated 700,000 QRPh-enabled shops around the Philippines.

Coins.ph announced the addition of Bitcoin (BTC) and Ethereum (ETH) to its QRPh cryptocurrency payment feature, expanding a system that currently allows customers to pay retailers throughout the country using stablecoins like USDT.

By scanning the national QR code standard created by the Bangko Sentral ng Pilipinas (BSP), the integration enables users to transact at an estimated 700,000 QRPh-enabled shops around the Philippines. There is no need for manual pre-conversion since cryptocurrency balances are immediately converted into Philippine pesos at checkout.

The deployment of QRPh-compatible cryptocurrency payments by Coins.ph earlier this year, which added USDT functionality to the country’s QR infrastructure, provided the foundation for this development. It was the first time a digital wallet in the Philippines allowed direct cryptocurrency payments using a national QR code architecture, incorporating stablecoins into a system previously utilized for regular transactions. The first launch resulted in a significant transaction volume driven by USDT payments.

Users may easily switch between fiat and digital assets within a single checkout process since stablecoins are at the heart of the system. This is especially important in the Philippines, which receives over $38 billion in remittances annually, making it one of the world’s biggest receivers. The usage of stablecoins for cross-border transfers has grown, enabling receivers to retain value in digital dollars and now use it directly inside the local economy without the need for further conversion stages.

While preserving a cohesive payment experience based on practical use, the inclusion of BTC and ETH broadens the spectrum of accepted assets inside the same infrastructure.

Wei Zhou, CEO of Coins.ph, said:

Under BSP regulation, Coins.ph functions as a licensed provider of virtual asset services and an issuer of electronic money. A nationwide standard called the QRPh system was created to make payments between financial institutions and retailers safe and compatible.

With over 15 million users, or around 13.4% of the population, the Philippines is one of the top regions in the world for cryptocurrency adoption.

The next wave of international money transfers is being built by Coins.ph. Businesses and individuals may access digital assets, transfer money internationally, convert currencies, make payments, and access an expanding range of financial services, from credit and credit cards to investments and treasury, all via a single platform. Coins.ph facilitates quicker, more affordable, and round-the-clock money transfers by fusing local payment rails with stablecoin-powered settlement.