Global payments provider Veem and Coins.ph announced an expansion of their partnership Thursday to streamline cross-border transactions from the United States and Canada to the Philippines.
The collaboration introduces a new channel for corporate payouts and contractor payments that utilizes digital settlement methods to reduce costs and processing times.
The expanded model allows Veem to use Coins.ph as a local payout provider to bypass traditional international wire fees and slow bank settlement cycles. By maintaining liquidity in advance, Veem enables Coins.ph to manage local compliance checks and convert dollars into Philippine pesos for disbursement through domestic bank networks and digital wallets.
The companies are also exploring the use of stablecoins like USDC to further accelerate settlement.
The service targets the growing sector of Filipino remote workers, freelancers and virtual assistants who often face high foreign exchange rates and complex payment processes. Under the new system, North American businesses can manage mass payouts and track reconciliation through a single platform while recipients choose their preferred local delivery method.
Coins.ph chief executive Wei Zhou said the partnership addresses long-standing friction in the payment corridor between North America and Southeast Asia.
