Locally licensed crypto platform Coins.ph announced a strategic partnership with Pays0, a licensed electronic money issuer (EMI) and payment systems operator (OPS) regulated by the Bangko Sentral ng Pilipinas (BSP).
According to the entities involved, the collaboration aims to provide users with conversion between Philippine pesos and cryptocurrencies by bridging the gap between traditional finance and the digital asset economy.
What’s With the Partnership?
In a statement, Coins.ph said the partnership will enable the integration of its cryptocurrency solutions into the Pays0 platform, which is expected to give both businesses and individual users access to peso-to-crypto and crypto-to-peso conversions.
“From businesses optimizing their financial operations to individuals seeking efficient remittance options, this partnership highlights how blockchain technology is leading innovation and enables more user-centric financial solutions.”
Wei Zhou, Chief Executive Officer, Coins.ph
Technically. Pays0 will integrate blockchain-powered solutions for greater security, transparency, and efficiency in transactions, with the use of stablecoins, such as $USDT, to ensure flexibility and stability in managing funds.
“The collaboration with Coins.ph is a key step in building a future-oriented, inclusive financial ecosystem. We have not only seen the urgent need for modern financial services in businesses, but also the strong desire from everyday users for compliant and comprehensive financial tools, including digital assets. We believe that through this collaboration, we can inject new momentum into the financial development of the Philippines and the world, opening a new chapter in digital finance.”
Penny Jing, Chief Executive Officer and Founder, Pays0
In a press release received by BitPinas, the two entities highlighted that the use of blockchain technology will ensure faster, more cost-effective, and secure transactions.
The collaboration is also expected to build a more inclusive and efficient financial ecosystem for users throughout the Philippines, as their goal is to reduce the high intermediary fees traditionally associated with money transfers.
What Could this Bring to the Public?
- For businesses, Pays0 will leverage Coins.ph’s solutions to enhance cross-border payment capabilities, allowing businesses to expand globally with more flexible and efficient settlement options.
- For individual clients, the collaboration will provide secure and simplified access to financial services like remittances, savings, and digital investments, addressing various financial needs.
- For overseas Filipinos, the partnership will improve remittance processes, offering faster and more cost-effective money transfers compared to traditional methods, reducing intermediary fees.
What is Pays0?
Launched in 2020, Pays0 is a payment gateway solutions provider that offers customizable payment processing services. It provides secure, API-driven payment infrastructure for businesses and individuals with services such as fund transfers, merchant collections, QRPH payments, foreign exchange, and cryptocurrency solutions through partners.
Recent Coins.ph News
Recently, Coins.ph joined the Circle Payments Network to enhance cross-border remittances for Filipinos by enabling faster, cheaper, and more secure international money transfers using regulated stablecoins like $USDC.
This article is published on BitPinas: BSP-Licensed Entities Pays0, Coins.ph Partner for Direct Peso-Crypto Conversions
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