Veem Expands Coins.ph Partnership With USDC Stablecoin Settlements

Veem and Coins.ph are adding stablecoins to their payment partnership that started in 2020. The companies are now adding USDC as a settlement option method to speed up cross-border payments to Filipino workers.

Veem CEO Marwan Forzley said the company can deliver a faster, cheaper, and far more scalable solution for paying the Philippines than traditional banks or remittance rails by leveraging a pre-funded model and Coins.ph's local expertise. Traditional correspondent banking systems typically settle in 2-5 days, while the new model provides near-instant fund receipt.

The partnership targets Filipino remote workers, freelancers, virtual assistants, and small outsourcing firms who receive payments from the U.S. and Canada. Veem maintains more than 1.1 million users in over 100 countries with licensed collection infrastructure across North America. Coins.ph converts the funds to pesos at transparent foreign exchange rates and disburses through domestic payout rails including bank deposits, digital wallets, and instant payout rails.

Coins.ph CEO Wei Zhou said the alliance solidifies Coins.ph as the premier gateway for global funds entering the Philippine economy. The BSP-licensed platform established in 2014 provides access to over 100 banks and e-wallets nationwide and operates as both a virtual asset marketplace and mobile wallet under BSP regulation, managing local compliance checks that would otherwise burden foreign payment providers. The expanded partnership bypasses traditional international wire fees and slow bank settlement cycles, while Veem maintains USD liquidity in advance to enable faster disbursements instead of waiting for traditional banking rails to clear.