Latest news with #Coinsph
Coin Geek
15-07-2025
- Business
- Coin Geek
Coins.ph and HashKey Group team up to launch 24/7 remittance corridor between the Philippines and Hong Kong
Homepage > News > Business > and HashKey Group team up to launch 24/7 remittance corridor between the Philippines and Hong Kong Getting your Trinity Audio player ready... Manila, Philippines, July 15 — the leading cryptocurrency exchange and digital wallet in the Philippines, has announced a landmark partnership with HashKey Group, operator of Hong Kong's largest* licensed crypto exchange, HashKey Exchange. This collaboration marks HashKey Exchange's strategic entry across Southeast Asia and sets the stage for a new era of compliant, digital asset-powered cross-border infrastructure between two of Asia's most dynamic economies. The partnership aims to establish a seamless, fully regulated, and always-on corridor for users to move funds between the Philippines and Hong Kong. By directly integrating and HashKey Exchange, users will soon be able to access near-instant on and off-ramps between Philippine Pesos (PHP) and Hong Kong Dollars (HKD), significantly reducing friction for remittances, payments, and broader digital asset flows. 'This partnership is a game-changer not only for crypto users but for the millions of Filipinos with strong ties to Hong Kong,' said Wei Zhou, CEO of 'Through platform in the Philippines and with HashKey's fully licensed infrastructure in Hong Kong, we're building a 24/7 crypto-powered bridge between the two regions. This is a major step forward in making remittances faster, cheaper, and more accessible for everyone.' 'HashKey Exchange is proud to collaborate with to build a secure, transparent, and 24/7 value transfer corridor between Hong Kong and the Philippines,' said Randall Chan, Managing Director of HashKey Exchange. 'This partnership is also a key step in our Global Shared Liquidity initiative—designed to connect regulated exchanges across regions and establish a unified global trading network with deep, reliable liquidity.' The collaboration is grounded in regulatory compliance, leveraging licenses from the Bangko Sentral ng Pilipinas (BSP) and HashKey's position as one of the leading licensed virtual asset exchanges in Hong Kong. With growing clarity around digital asset regulation in both markets, this partnership provides a model for compliant, scalable infrastructure supporting both retail and institutional flows. The partnership between and HashKey Exchange aims to build institutional-grade solutions across Southeast Asia. This includes onboarding enterprise users, enabling business-to-business cross-border transactions, and expanding coverage, eventually in other regional markets through global entity, and Coins Brazil. 'Our goal is more than just a corridor—it's a foundation for interoperable digital finance across Asia,' added Zhou. 'As regulatory frameworks solidify across the region, we're moving quickly to serve not just individuals, but also institutions that require compliant and efficient cross-border settlement solutions.' The and HashKey partnership marks a milestone in that journey and signals the broader potential of Asia's maturing crypto ecosystem. As Southeast Asia's digital asset landscape continues to grow, this partnership illustrates what the future of digital money movement can be: fast, secure, compliant, and always open. *As of January 31, 2025, HashKey Exchange ranked 7th on CoinGecko and is the highest-ranked licensed virtual asset exchange in Hong Kong. About is on a mission to power the new internet with easy access to digital assets and web3 products. Launched in 2014, is the most established crypto brand in the Philippines and has gained the trust of more than 18 million users. Through the easy-to-use mobile app, users can buy and sell a variety of different cryptocurrencies and access a wide range of financial services. is fully regulated by the Bangko Sentral ng Pilipinas (BSP) and is the first ever crypto-based company in Asia to hold both Virtual Currency and Electronic Money Issuer licenses from a central bank. About HashKey Exchange On a mission to set the bar for virtual asset exchanges in compliance, safety, and security, HashKey Exchange (HBL) was granted as a licensed virtual asset exchange to provide retail services in Hong Kong. HashKey Exchange has received approval from the Securities and Futures Commission (SFC) of Hong Kong to operate a virtual asset trading platform under Type 1 (Dealing in securities) licence, Type 7 (Providing automated trading services) licence and Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO) licence. As HashKey Group's flagship exchange business, HashKey Exchange provides trading services for both professional investors (PI) and retail investors. HashKey Exchange has obtained ISO 27001 (Information Security) and ISO 27701 (Data Privacy) management system certifications. HashKey Exchange does not service users from Mainland China, United States and certain other jurisdictions in compliance with laws and regulations. This material has not been reviewed by the Securities and Futures Commission of Hong Kong or any other regulator. Stay tuned for more details about HashKey Exchange. Follow us on Twitter and LinkedIn. For media enquiries and more information, please contact: HashKey Exchange Jade Shi Senior PR Manager [email protected]
Coin Geek
04-06-2025
- Business
- Coin Geek
Coins.ph, Pays0 partner to offer direct PHP-to-crypto services
Getting your Trinity Audio player ready... Pays0, a licensed electronic money issuer and payment systems operator under the Bangko Sentral ng Pilipinas (BSP), the Philippine central bank, has announced a partnership with digital currency exchange to streamline the conversion between Philippine pesos (PHP) and digital currencies. The partnership is designed to enhance financial services for both corporate entities and individuals, including the millions of Filipinos working abroad. The collaboration enables direct access to Coins. ph's cryptocurrency solutions through Pays0's system, providing a two-way PHP-to-crypto conversion channel. The companies say this will benefit a range of users, from businesses managing global payments to individuals transferring remittances to family members back home. Atty. Timothy Yee, Board Member of Pays0 Inc.; Jen Bilango, Country Head of and Penny Jing, Founder and CEO of Pays0 Inc. (Source: Seamless conversions and new settlement options Pays0's platform allows clients to move funds between traditional and digital finance systems. By integrating digital asset capabilities, users will be able to convert PHP into major digital currencies and vice versa directly from the Pays0 interface. 'The collaboration with is a key step in building a future-oriented, inclusive financial ecosystem,' Penny Jing, CEO and Founder of Pays0, said. '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.' For corporate clients, this partnership opens up efficient settlement methods and cross-border payment capabilities. Blockchain-based remittances, particularly using stablecoins like USDT, enable faster and more secure transfers. This is expected to ease payment processes for companies working with overseas suppliers or engaging in international trade. Empowering Overseas Filipino Workers The partnership also targets a vital segment of the Filipino economy: remittances from Overseas Filipino Workers (OFWs). In March 2025 alone, personal remittances rose 2.6% year-on-year to $3.13 billion, according to the data from the BSP. For the first quarter of the year, remittances totaled $9.40 billion, up from $9.15 billion during the same period in 2024. Source: Bangko Sentral ng Pilipinas Cash remittances, which comprise the bulk of the total, also grew by 2.7% to $8.44 billion in January-March 2025. The increase was driven largely by remittances from the United States, Singapore, Saudi Arabia, and the United Arab Emirates. The U.S. remained the top source of cash remittances during this period. 'The sustained growth in personal remittances continues to support domestic consumption and economic activity in the Philippines,' the BSP noted in its statement. 'The steady flow of funds from Filipinos overseas remains a critical lifeline for many families and communities across the country.' Source: Bangko Sentral ng Pilipinas Pays0 and aim to make that process even more efficient. With blockchain-enabled services, OFWs can now bypass traditional remittance intermediaries, reducing fees and improving speed. '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, CEO of said. The two companies emphasize that by using stablecoins as a bridge currency, users can minimize volatility risks and maximize fund value. The decentralized ledger technology (DLT) behind these transactions ensures that they are transparent, traceable, and resistant to tampering. Lower costs, faster transfers, better security Traditional remittance channels often involve several layers of intermediaries, each taking a cut from the transaction. The blockchain-powered system introduced by Pays0 and aims to eliminate most of these layers. As a result, recipients will receive a larger portion of the amount sent. In addition to reducing costs, the partnership is promoting financial inclusion. Many Filipinos remain underbanked or unbanked, lacking access to traditional financial services. By allowing users to interact with digital assets directly through a licensed platform, the partnership opens financial services to wider audiences. Business use cases expand On the business side, the joint service helps facilitate smoother and faster business-to-business (B2B) payments across borders. Companies working with foreign suppliers or partners can now settle invoices using digital assets, avoiding the often slow and costly process of converting currencies through traditional banking channels. As the digital asset space continues to evolve, regulatory compliance remains a key factor. Both companies stress their commitment to working within the BSP's regulatory framework. already operates under BSP oversight as a licensed virtual asset service provider (VASP), while Pays0 is authorized to issue electronic money and operate as a payment system operator. The collaboration comes at a time when digital finance is accelerating rapidly in the region. The rise of mobile wallets, crypto payments, and cross-border blockchain settlements reflects a broader shift in how individuals and companies manage their finances. Watch: The Philippines is moving toward blockchain-enabled tech title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">
Coin Geek
07-05-2025
- Business
- Coin Geek
Industry leaders weigh in on DeFi's future in the Philippines
Getting your Trinity Audio player ready... Blockchain technology is redefining the financial landscape in the Philippines—reshaping how money moves, who has access, and what opportunities are available. In a panel discussion during the recently concluded Crypto Vision Conference 2025 in Makati City, leaders from UnionBank, and Yield Guild Games (YGG) explored how this emerging infrastructure is challenging traditional systems and opening new possibilities for users across economic levels. Speaking to a room of professionals, regulators, and tech enthusiasts, the panellists addressed real-world blockchain applications, the urgent need for modernization in finance, and how digital tools are creating alternatives for Overseas Filipino Workers (OFWs). Panel discussion on the future of decentralized finance. (Source: UnionBank's take on blockchain Robert Joseph Dela Cruz, Head of Digital Assets at UnionBank of the Philippines, shared the institution's approach to integrating blockchain into its operations. 'I think the technology itself gives us a lot of power to create different products that we can actually offer to our clients or to governments,' Dela Cruz said. He cited UnionBank's various pilot initiatives, including a digital currency app called BitBox, as part of their effort to make digital currency more accessible. Far from seeing themselves in competition with exchanges, Dela Cruz explained UnionBank's collaborative approach: 'We are really actually working with them. It's a community—all of us, YGG, and all the other exchanges and everyone in DeFi—that allows us to give access to our clients.' He described real-world applications of blockchain, such as logistics, where transparency and traceability are improved through decentralized systems. However, he acknowledged hurdles. 'The challenge is adoption with other banks. We need to be in the same network, the same community, to be able to implement this on a wider scale.' 'It's really more allowing the users themselves to tell us what they want from their banking experience,' he said. 'If blockchain is a solution to that, then we will go that route. But otherwise, if it's not, we won't force that kind of technology.' on modern finance Jen Bilango, Country Manager at said inefficiencies are embedded in traditional financial systems. 'You can send an email in one second. Why can't I receive money in a second?' she asked. For Bilango, the promise of blockchain lies in its ability to provide a more adaptive and modern financial foundation. 'The fundamental foundation of how we interact in our financial lives will be different,' she asserted. 'There will be a point in which there will be an intersection,' referring to blockchain and traditional finance eventually merging. However, she also emphasized the importance of regulation in building user trust. 'You don't care about regulation until you've lost your money,' she said. Bilango also shared her experience transitioning from a traditional finance role to blockchain. 'I used to do IPOs (initial public offering). It takes me six to twelve months. Then all of a sudden, five people raised money in three weeks,' she said, recounting a pivotal moment. 'My work will be gone in ten years because you can raise money from everyone. It's the best kind of crowd-sourcing.' She argued that financial processes like remittances, which are vital to Filipinos, are ripe for disruption. 'Remittances should be disrupted,' she stated. 'I can send money to anyone around the world just like that, if you use the right chain.' According to the September 2023 data of the Philippine Statistics Authority (PSA), the number of OFWs or Filipino workers who worked abroad from April to September 2023 was estimated at 2.16 million, an increase of 9.8% from the previous year's estimated number of 1.96 million. Grassroots innovation and the rise of the Metaverse Filipino Worker Mench Dizon, Country Head of Yield Guild Games (YGG), highlighted a different angle of blockchain adoption—its unexpected grassroots momentum fueled by gaming. 'We all expected adoption to come from some fintech or finance product, but it actually came from games,' she said. 'Several millions of Filipinos started to learn about blockchain, about Web3, about crypto, because they were playing games.' Dizon described how the gaming ecosystem introduced average users to the blockchain. 'That is what's very interesting to us—how adoption can really trickle via these products in the DeFi space, via games, via Web3 projects.' She also discussed a movement initiated by YGG called the Metaverse Filipino Worker, aimed at expanding local economic opportunities without requiring overseas employment. 'Remittances is one gap that DeFi could bridge, but we could go steps further,' she explained. 'How can we actually provide the opportunities back home here —provide work, provide learning, provide capabilities?' For Dizon, the ultimate impact of decentralized finance (DeFi) lies in its potential to offer an alternative to migration. 'There even is no discussion of remittances because the Filipinos have a choice not to leave the country, but stay here, be with their families, be with their kids as they are growing up, and continue to be digital workers.' She also stressed the importance of community-led education and support. 'It's not a safe space— we know that,' she said, referencing the risks in the crypto space. 'But within the community, we see each of the members help each other understand this space that's very hard to navigate.' Balancing innovation and safety The industry leaders agreed that while blockchain offers new possibilities, careful attention must be paid to user protection and regulatory compliance. Bilango highlighted the need for balance. 'The regulators are concerned about how we make sure it's safe for the people— AML, KYC because we're part of a broader ecosystem.' With financial inclusion, community-driven education, and emerging technologies converging, the panel underscored that decentralized finance is not just a tool for innovation but a potential pathway to rethinking economic participation from the ground up. Watch | The Philippines startup boom: Highlights from Sinigang Valley Build Startup Festival title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen>
