Coins.ph, the Philippines’ leading crypto platform in the country, has joined the launch of the Circle Payments Network (CPN), a groundbreaking initiative from global financial technology company Circle. This collaboration marks a significant step towards revolutionizing cross-border payments for millions of Filipinos, making sending and receiving money from overseas faster, more affordable, and accessible than ever before.
Coins.ph is proud to be the only Philippine platform to be named a design partner in this project, underscoring its commitment to bringing cutting-edge financial solutions to the Filipino people.
By working alongside global financial powerhouses like Banco Santander, Deutsche Bank, Société Générale, and Standard Chartered Bank to name a few, Coins.ph is at the forefront of shaping the future of international money transfers in the Philippines.
CPN is governed by a robust framework that requires participants to meet strict eligibility standards, including licensing, AML/CFT compliance, financial risk management, and cybersecurity protocols. By leveraging USDC, a digital token pegged 1:1 with the US Dollar, and other regulated stablecoins, CPN enables seamless connectivity to domestic real-time payment systems worldwide, while upholding the compliance, security, and trust required for financial institutions to meet their regulatory obligations. This innovative network aims to address the inefficiencies of the current system, offering a modern way to move money globally with the speed and transparency of the internet.
“At Coins.ph, our priority has always been to empower Filipinos with convenient and reliable financial services,” said Wei Zhou, CEO of Coins.ph. “Our partnership with Circle on the Payments Network is a game-changer for the countless Filipino families who depend on remittances from loved ones working abroad. The current cross-border payment system often involves lengthy delays and high fees, placing an undue burden on these hardworking individuals and their families.”
In the announcement made by Circle, Jeremy Allaire, Co-Founder, Chairman and CEO of Circle says “Since our founding, Circle’s vision has been to make moving money as simple and efficient as sending an email.” CPN is a significant step in making that vision a reality for businesses worldwide.”
Coins.ph is committed to working closely with Circle and other partners to ensure the CPN meets the needs of Filipinos, paving the way for a more financially inclusive and globally connected future for all.
![](https://2ndopinion.ph/wp-content/uploads/2024/11/300x250.png"")
