Remitly and Coins.ph announced a strategic collaboration to launch a stablecoin-powered remittance solution to provide near-instant and low-cost money transfers to the Philippines.
The partnership allows Remitly to process funds from more than 170 countries through the regulated local infrastructure of Coins.ph. The system converts fiat currency, such as US or Canadian dollars, into stablecoins to facilitate near-real-time settlement and reduce latency for recipients.
The initiative targets a significant market, as approximately 4 million overseas Filipino workers reside in the United States and Canada. These two nations account for 45 percent of total remittances sent back to the Philippines.
Coins.ph chief executive Wei Zhou said stablecoins are evolving into essential global infrastructure. He noted that the partnership aims to democratize finance and provide overseas Filipinos with greater financial resilience by reducing costs.
Remitly vice-president of business development Gene Nigro said the integration of stablecoin technology with the company’s global network supports its mission to transform lives through trusted financial services.
Under the new system, funds can be delivered directly into a Coins.ph Philippine peso e-wallet or a connected bank account.
