Coins.ph, a crypto-native digital wallet, has rolled out QRPh stablecoin payments in the Philippines, allowing users to pay using Philippine peso (PHP), Tether (USDT), USD Coin (USDC), or a mix of both in one transaction.
The feature works on QRPh, the national QR code standard developed by the Bangko Sentral ng Pilipinas (BSP). QRPh allows customers to scan a single QR code to pay merchants, even if they use different banks or e-wallets.
“After a long but exciting development process, Coins.ph is proud to introduce its QRPh stablecoin payment support, allowing eligible users to complete a QRPh transaction using PHP, supported stablecoins, or a combination of both within a single checkout flow,” said Wei Zhou, CEO of Coins.ph.
Coins.ph said the feature is immediately usable across nearly 700,000 QRPh-enabled merchants nationwide, covering small businesses and large retail chains. This makes it one of the first real-world use cases of stablecoins for everyday payments in the country.
The system removes a common hurdle in crypto spending: manual conversion. Instead of converting crypto to cash before paying, users can now complete transactions directly, with automatic conversion happening at checkout.
Users can choose from three payment modes: paying fully in PHP, using crypto that is converted to peso in real time, or combining both balances in a single purchase. Real-time conversion rates are shown before users confirm the transaction.
USDT and USDC, both pegged 1:1 to the US dollar, were selected for the initial rollout due to their liquidity and widespread use. Coins.ph said more tokens may be added in future updates.
If a transaction fails, the system automatically reverses it. For refunds, all returned funds are issued in PHP, even if the original payment involved crypto.
By integrating stablecoins into QRPh, Coins.ph is making digital assets as a practical payment option, not just an investment tool, in the Philippines’ growing cashless economy.