Fintech and digital asset expansion in the Philippines

The Philippines continues to expand its fintech and digital asset capabilities through new payment and remittance initiatives. Initially, Coins.ph introduced enterprise tools including QRPh crypto payments and a stablecoin-enabled service called ‘Move’ to accelerate domestic transfers. Concurrently, the Bank of the Philippine Islands (BPI) launched a pilot with Meridian, supervised by the Bangko Sentral ng Pilipinas, to use stablecoin settlement rails for cross-border remittances targeting freelancers and overseas workers.

Following these developments, the sector saw further expansion in digital banking and utility services. MariBank began surveying users regarding interest in integrated cryptocurrency features, such as stablecoin savings and crypto-based checkouts. Additionally, Coins.ph expanded its bill payment capabilities through an integration with the Bayad network, adding nearly 300 merchants to its directory to facilitate real-time processing for utilities and government contributions.

Recent developments show Coins.ph further strengthening its infrastructure through a partnership with Skyro to expand digital payment and disbursement capabilities using the QR Ph standard. Furthermore, the Philippine Department of Trade and Industry has issued new guidelines that allow government agencies to procure specialized technologies, such as blockchain, from international sources in instances where such technology is unavailable locally.