Veem has expanded its partnership with Coins.ph to improve cross-border payouts from the United States and Canada to the Philippines, adding new settlement rails including stablecoins and faster treasury mechanisms aimed at small businesses, freelancers and outsourcing firms, the companies said.

Under the updated arrangement, Coins.ph will continue to serve as Veem’s local payout infrastructure, handling currency conversion, compliance and distribution across more than 100 Philippine banks and e-wallets. The companies said the model allows Veem to hold U.S. dollar liquidity while using digital settlement rails such as USDC before converting funds into pesos locally.

Veem first partnered with Coins.ph in 2020. The expansion, announced in 2026, targets a growing segment of cross-border payments tied to contracting and outsourcing. Traditional correspondent banking systems typically settle in two to five days and are not optimized for high-frequency business payouts, according to the companies.

Veem Chief Executive Marwan Forzley said the upgraded corridor is designed to offer a “faster, cheaper, scalable alternative to traditional banks,” particularly for small enterprises and contractors paid by U.S. firms. Coins.ph Chief Executive Wei Zhou said the partnership “empowers Filipino freelancers and SMEs with reliable instant payouts.”

The Philippines is one of the world’s largest outsourcing hubs, with business process outsourcing firms, freelancers and remote workers frequently paid from North America. The country also receives more than $36 billion in annual remittances, with the United States accounting for the largest share, according to World Bank data.

Coins.ph is licensed by the Bangko Sentral ng Pilipinas (BSP) as an electronic money issuer and virtual asset service provider, allowing it to convert foreign currency and manage compliance for digital asset-linked settlement. The companies said the model removes intermediary correspondent banks, reduces cut-off constraints and enables 24/7 treasury settlement.

Analysts say global payment firms have increasingly turned to stablecoins such as USDC for enterprise settlement because they can minimize foreign exchange pre-funding and reduce operational costs, though regulatory treatment varies across jurisdictions.

The companies did not disclose transaction volumes or fee changes. They said U.S. and Canadian small businesses and contractors are the core senders in the corridor, with Filipino freelancers, outsourcing firms and remote workers as primary recipients.

Veem operates a global business-to-business payments platform, while Coins.ph provides digital wallet and off-ramp services in the Philippines. Further details on commercial terms were not made public.

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