For millions of Filipinos working abroad, the monthly “padala” is more than just a financial transaction. It’s a lifeline—a way to pay for a sibling’s tuition, a parent’s medical bills, or a down payment on a dream home. However, the process of sending money across borders has often been plagued by high fees and the anxiety of waiting days for funds to clear.
In a move that promises to change the game for the Global Filipino, Remitly has officially partnered with the Philippines’ premier crypto exchange, Coins.ph. Together, they are launching a stablecoin-powered remittance solution designed for near-instant, low-cost money transfers.
Why This is a Huge Win for the Filipino Community
The scale of this partnership is massive. Currently, there are an estimated four million overseas Filipino workers in the US and Canada. These two countries alone account for 45% of the total remittances flowing back to the Philippines.
By using “stablecoin rails,” Remitly and Coins.ph are removing the friction from this process. Unlike traditional bank transfers that can take days, this new system allows for near-real-time settlement.
What this means for you and your family:
- Near-Instant Delivery: Funds move almost immediately, ensuring help arrives exactly when it’s needed.
- Lower Costs: By cutting out the middlemen of traditional banking, more of your hard-earned dollars reach your loved ones.
- Flexible Payouts: Recipients receive PHP directly into their Coins.ph e-wallet or can have it sent to a connected bank account.
“Stablecoins are rapidly shifting from niche technology to essential global infrastructure,” says Wei Zhou, Coins.ph CEO. “By partnering with a trusted global leader like Remitly, we are democratizing finance… ensuring every dollar saved gives overseas Filipinos and their families more value and financial resilience.”
Gene Nigro, VP of Business Development at Remitly, added that the mission is simple: to transform lives by ensuring that “every dollar means more for the families that rely on these essential transfers.”
- Remitly: A Seattle-based digital financial services provider serving over 170 countries and 8.9 million quarterly active users.
- Coins.ph: Established in 2014, it is the Philippines’ leading licensed crypto exchange and mobile wallet, regulated by the Bangko Sentral ng Pilipinas (BSP).
