To promote stablecoin, USDC issuer collaborates with the Philippines exchange.
“A new alliance between Circle and Coins.ph is set to transform the financial landscape for 18 million users, promising them swifter, more affordable, and readily accessible remittance options. Circle, the issuer of the United States dollar-pegged stablecoin USDC, is significantly expanding its footprint in the Philippines through this exciting local partnership. On the 10th of October, Circle unveiled a strategic collaboration with Coins.ph, a prominent cryptocurrency exchange and digital wallet provider in the Philippines. This dynamic partnership between Coins.ph and Circle is poised to revolutionize cross-border transactions and payments, making them faster and more cost-effective for the Filipino people, as both companies emphatically stated. In 2022, the average cost of sending a $200 payment to Asia was 5.7%, according to World Bank data. In the Philippines, remittances pose an even more intricate challenge, especially for the unbanked, constituting 44% of the adult popul...