The service uses a stablecoin-powered payment corridor. First, a sender initiates a transfer via BCRemit. BCRemit then converts their currency, such as Euros or Pounds, into a stablecoin like USDC or USDT.
The platform sends this stablecoin via a blockchain to Coins.ph in the Philippines, which instantly converts it back into Philippine Pesos and deposits the funds into the recipient’s account.
This process allows recipients to receive funds in minutes, bypassing traditional bank intermediaries that can take three to five days. Both companies are licensed by the Bangko Sentral ng Pilipinas (BSP), ensuring regulatory compliance.
Wei Zhou
Wei Zhou, CEO of Coins.ph, stated, “This collaboration aligns with our mission to make innovative digital finance accessible. By integrating stablecoin rails, [we are providing] near real-time, low-cost transfers that give overseas Filipinos and their families more value.”
Oliver Calma, Founder and CEO of BCRemit, noted that the stablecoin rail provides immediate benefits for millions of Filipino workers in those regions.
He also shared plans for 2026 to roll out a QR-Payment Collection feature, which will enable outbound remittances and create a complete two-way payment channel.
