Money.phThe leading crypto platform in the Philippines, has expanded its QR-code payment network in the country, adding support for Bitcoin (BTCand Ethereum (The price of ETH).
This update goes beyond what was established with the original integration of Tether (USDT) and bring alternative payment methods to nearly 700,000 merchants.
At the top of the list is, of course, QRPH, the national standard QR payment system started under the Bangko Sentral ng Pilipinas (BSP), which automatically converts crypto into Philippine pesos on commercial sites.
“The addition of new tokens to our QRPH crypto payment portfolio is a great achievement following the introduction of USDT payments in the Philippine economy,” Wei Zhou, CEO of Coins.ph, told Finbold.
Stablecoin price history
As mentioned, the latest expansion is part of the company’s plans stablecoin highest salary in the Philippines.
The initial implementation of the system introduced USDT in the QR code architecture and recorded the first strong events, as it enabled the Philippine wallets to be able to use money directly through the international communication channels.
“We’re not just adding new tokens, we’re redefining what a digital wallet can do. This is the future of finance, and we’re making the world’s most popular currency a part of Filipinos’ daily lives,” he said. Zhou added.
At the moment, stablecoins remain at the center of the model, which is not surprising considering that the market is made up of a lot of remittances. As a matter of fact, the Philippines receives $38 billion a year.
As a result, digital assets, such as USDT, are the most popular way to move value across borders before spending it locally without other means of exchange.
In addition, the Philippines remains one of the most active crypto markets in the world, with more than 15 million people, or about 13.4% of the population, using digital currencies.
Image courtesy of Shutterstock
