Philippines #9 in Crypto Adoption as Stablecoins Hit Remittances
Coins.ph CEO Wei Zhou said cryptocurrency has transitioned from speculation into essential infrastructure for borderless payments. The largest digital asset exchange in the Philippines reported a 20% surge in trading volume this year, powered entirely by stablecoin transactions.
Key Takeaway
Stablecoins have replaced speculation with utility in Southeast Asia's remittance and payment corridors.
Coins.ph CEO Wei Zhou said cryptocurrency has transitioned from a speculative store of value into the essential liquidity that keeps financial systems running 24/7, 365 days a year. The example is simple: a Manila resident receives USDT at 8:00 AM Sunday morning for rent. The transaction settles in five minutes. The SWIFT network would pause until Monday.
Philippines ranked #9 globally in Chainalysis's 2025 Global Crypto Adoption Index, ahead of Thailand at #15. The rankings reflect how 10 million Overseas Filipino Workers and 1.5 million freelancers now use stablecoins to send and receive payments across borders.
Stablecoins now account for nearly 45% of all on-chain activity in Thailand, according to Chainalysis. Indonesia saw a 32% year-on-year increase in small-value digital asset transactions in 2024. Cambodia processes over ₱1.21 trillion ($20 billion) in digital payment volume annually through its Project Bakong token system.
Coins.ph operates not just in the Philippines but also in Australia, Latin America, Africa, and Europe. Zhou said the company's mission is to build the continuity infrastructure for the Philippines and Thailand, bridging the gap between traditional fiat and the borderless efficiency of the blockchain.
Stablecoins are projected to capture up to 30% of the global remittance market by 2030, with stablecoin-backed transactions in Asia expected to hit ₱15.12 trillion ($250 billion) by 2028.
🇵🇭 What This Means for Filipinos: Coins.ph's 20% volume surge reflects how OFWs and freelancers now bypass traditional remittance channels that charge 3-5% fees and pause on weekends. PDAX and Coins.ph users can settle USDT transfers in minutes, making stablecoins a direct alternative to banks for the ₱2.24 trillion ($37 billion) annual OFW remittance flow. This positions the Philippines as a regional leader in real-world crypto adoption beyond trading speculation.
