- Coins.ph adds BTC and ETH payments to the Philippines QRPh system.
- Users can use crypto for transactions with 700,000 QRPh.
- Stablecoins remain important for everyday crypto transactions and payments.
Coins.ph has expanded its QRPh crypto payment services to support the transition to Bitcoin and Ethereum, expanding the use of digital assets within QR payments in the Philippines.
The Manila-based crypto platform announced on May 19 that users can now pay merchants nationwide using Bitcoin (BTC) and Ethereum (ETH) through QRPh, the national QR code standard developed by the Bangko Sentral ng Pilipinas (BSP).
The expansion builds on Coins.ph which already released a QRPh-compatible stablecoin, which launched USDT support earlier this year.
Under the system, cryptocurrencies are converted into Philippine pesos upon checkout, allowing users to pay merchants directly without having to convert digital assets into local currency.
Coins.ph estimates that this integration will enable cryptocurrency payments for approximately 700,000 QRPh merchants nationwide.
Crypto payments thrive within the QR infrastructure
The latest update expands the number of cryptocurrencies supported within the existing QR payment system in the Philippines.
QRPh serves as a global QR standard designed to facilitate digital payments between financial institutions and merchants across the country.
Earlier this year, Coins.ph became the first digital wallet provider in the Philippines to integrate direct crypto payments into QR codes via stablecoin support.
The company said the initial release of USDT led to a significant increase in revenue and reflects consumer demand for crypto-based payments that are being integrated into everyday finances.
With the addition of Bitcoin and Ethereum, Coins.ph now adds access to two of the world’s largest cryptocurrencies while maintaining the same payment method used for stablecoin payments.
The company said the system allows users to scan QRPh codes for merchants while the machine converts cryptos into Philippine pesos in real time.
Stablecoins remain among the money transfer cases
Coins.ph said stablecoins continue to play an important role in large-scale payments, especially given that the Philippines is one of the world’s largest remittance markets.
The country receives $38 billion in annual revenue, according to the company.
Stablecoins are becoming part of cross-border payments, allowing recipients to receive and store digital dollar assets before they are exchanged or destroyed locally.
Coins.ph reported that QRPh’s integration enables users to move between fiat currencies and digital assets within a single payment method, eliminating the extra steps that are often required for crypto transactions.
The addition of Bitcoin and Ethereum expands the payment system and maintains what the company described as a unified payment system used on a daily basis.
Coins.ph shows the great growth of crypto
Coins.ph operates as a Virtual Asset Service Provider and Electronic Money Issuer under BSP regulations.
The Philippines remains one of the fastest growing markets in the world. According to the company’s statement, the country has more than 15 million crypto users, representing about 13.4% of the population.
Wei Zhou, CEO of Coins.ph, said:
“Adding new tokens to our QRPH payment platform is a great step forward following the popular introduction of USDT payments in the Philippine economy. We are not only adding new tokens, we are redefining what a digital wallet can do. This is the future of finance and we are making the world’s most popular cryptocurrencies a part of everyday cryptocurrencies.”
Coins.ph said its comprehensive platform integrates digital assets, payments, remittances, foreign exchange services, investment funds, and commodities into a unified financial system designed to support businesses and consumers.
