Coins.ph Adds Bitcoin and Ethereum to National QR Ph, Reaching 700,000 Philippine Merchants

According to Coins.ph, the digital wallet provider added Bitcoin and Ethereum to the Philippines' national QR Ph payment network in June, allowing users to spend crypto across nearly 700,000 merchants nationwide. Transaction data from early deployment showed millions of Philippine pesos spent on everyday purchases including groceries and utilities. CEO Wei Zhou attributed the success to real-time backend liquidations that shield consumers and merchants from price volatility, stating the automation "removes the psychological barrier of cashing out, allowing stablecoins to finally function as actual money."

Coins.ph completed testing of its Philippine Peso-backed stablecoin (PHPC) within the central bank's regulatory sandbox and is finalizing approvals to launch PHPC alongside USDT and USDC, eliminating foreign exchange spreads for local commerce.