PhilippinesAbout
Coins.ph is a Philippine crypto and payments platform founded in January 2014. It has been supervised by the Bangko Sentral ng Pilipinas (BSP) since 2014 and holds BSP virtual asset and electronic money issuer licences. It says it was the first crypto-based company in Asia to hold both kinds of licence from a central bank, and that it has more than 16 million registered users.
A team led by chief executive Wei Zhou acquired the company from Indonesia's Gojek (now GoTo). Coins.ph offers crypto buying, selling and spot trading, bill payments, remittances and merchant payments.
In May 2024 the BSP approved Coins.ph to issue PHPC, a peso-pegged stablecoin, under its regulatory sandbox. PHPC is backed by cash and cash equivalents held in Philippine bank accounts and launched on the Ronin blockchain in July 2024. In June 2025 it exited the sandbox after meeting the BSP's performance indicators. Coins.ph kept holder disclosure, regular BSP reporting and third-party audits of reserves and smart contracts in place. The company promotes stablecoins as a cheaper channel for overseas remittances.
Policy engagement
Piloted PHPC, a Philippine peso stablecoin, in the BSP regulatory sandbox from 2024; in June 2025 PHPC exited the sandbox, lifting minting limits, with holder disclosure, BSP reporting and reserve audits kept in place.
Key actions
CEO Wei Zhou said Coins.ph was still waiting for a crypto-asset service provider licence under the SEC rules issued in January 2025.
SourceWei Zhou spoke on stablecoins for cheaper remittances at a Fintech Alliance Philippines and OWWA programme for overseas Filipino workers in Hong Kong.
SourcePHPC exited the BSP regulatory sandbox, lifting minting limits while holder disclosure, BSP reporting and reserve audits stayed in place.
SourceReceived BSP approval to launch PHPC, a Philippine peso stablecoin, under the central bank's regulatory sandbox.
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