Manila, June 10, 2025 – Coins.ph, the Philippines’ leading crypto exchange with over 18 million users, announced that its Philippine Peso-backed stablecoin, PHPC, is exiting the Bangko Sentral ng Pilipinas (BSP) Regulatory Sandbox. This marks a major milestone for the digital currency, making all remaining PHPC fully redeemable and enabling greater minting capacity to support larger, seamless transactions.

The sandbox pilot began in 2024 and quickly showed PHPC’s strength in stability, security, and utility. Within just two months, it exceeded all key performance indicators (KPIs), confirming demand and use cases among Filipinos. Completing the sandbox period positions PHPC for broader adoption across the country’s growing digital currency ecosystem.

With regulatory limits now lifted, Coins.ph is preparing to expand PHPC operations by increasing supply to meet rising demand. This next phase opens doors for higher transaction volumes and new use cases—particularly in areas like remittances and cross-border payments.

"Exiting the BSP sandbox is a pivotal moment for PHPC and the broader growth of digital currency adoption in the Philippines," said Wei Zhou, CEO of Coins.ph. "We believe PHPC can make a real impact where Filipinos need it most—faster and cheaper money transfers."

One of the most important use cases is remittances. As one of the world’s top recipients of overseas funds, the Philippines stands to benefit greatly. PHPC aims to eliminate traditional intermediaries and reduce processing times from days to minutes, giving users more direct access to their money without needing a bank.

The successful exit from the sandbox also reinforces the Philippines’ position as a regional leader in stablecoin innovation. Coins.ph’s collaboration with the BSP sets the foundation for how digital assets can work safely and effectively within the national financial system.

"This milestone reflects BSP’s support for digital innovation and our commitment to building secure, user-friendly financial products," added Zhou. "We’re excited to work with regulators, partners, and the community to help modernize how money moves in and out of the Philippines."

Compliance & Stability

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As part of the exit process, Coins.ph will continue meeting all BSP requirements, including regular audits, public disclosures, and smart contract security checks. PHPC remains 1:1 backed by cash and equivalents in Philippine bank accounts. Users can continue depositing and withdrawing PHPC through the Coins.ph app and website.

About Coins.ph

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Coins.ph is the Philippines’ leading crypto exchange and digital wallet, serving over 18 million users. Founded in 2014, the platform offers access to crypto trading, bill payments, mobile top-ups, and stablecoin services. Coins.ph is committed to advancing financial inclusion and innovation in the country.

About PHPC

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PHPC is a Philippine Peso-backed stablecoin launched by Coins.ph under the BSP’s Regulatory Sandbox. It is fully backed by cash in local banks, maintains a 1:1 peg to the Peso, and is designed to make digital transactions faster, safer, and more efficient for Filipinos.

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