Single Unified Checkouts
Leading Philippine crypto-native digital wallet Coins.ph announced pioneering Stablecoin Payment functionality via QRPh which enables users to settle transactions using PHP, stablecoins, or a combination of both in a single, unified checkout flow.
The landmark feature, as detailed in the platform’s official website, has effectively bridged the gap between digital asset portfolios and daily commerce – being immediately compatible with nearly 700,000 QRPh-enabled merchants across the country, ranging from small local enterprises to major retail chains.
Low-Cost and Safe
Under the guidance of Bangko Sentral ng Pilipinas (BSP), participating payment service providers nationwide utilize QRPh as the National QR Code standard that unifies various domestic cashless payment schemes that use the QR code as a form factor. It provides a quick, low-cost and safe method to pay, transfer and receive funds from other banks and e-money accounts in the Philippines.
Pioneering the Philippine market as the first e-wallet to integrate QRPh Stablecoin payment, Coins.ph’s innovation sets a new standard for use of cryptocurrency as a versatile financial tool.
“This initiative is part of Coins’ broader effort to make crypto more usable in everyday scenarios and to simplify merchant QR transactions for users who hold funds across different asset types”, Coins.ph CEO Wei Zhou said.
USDT and USDC in Initial Rollout
For the initial rollout, Coins.ph has prioritized the two most liquid and widely held stablecoins globally: USDT and USDC, while more tokens are slated for integration in the coming months.
The BSP has also previously approved Coins.ph’s introduction of PHPC in 2024, a stablecoin designed to maintain a steady value, pegged at 1:1 ratio to the Philippine peso.
