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The Philippines is taking another step toward mainstream crypto adoption after digital wallet provider Coins.ph integrated Bitcoin and Ethereum payments into the National QR Ph Network, allowing users to spend digital assets at nearly 700,000 merchants nationwide.
The move builds on the company’s earlier rollout of stablecoin payments using USDT and USDC and signals a broader shift in how cryptocurrencies are moving beyond trading platforms and into daily consumer transactions.
By connecting bitcoin and ethereum to the National QR Ph Network, Coins.ph is enabling users to pay for everything from groceries and school fees to household appliances without first converting their crypto holdings into Philippine pesos manually.
Industry observers say the initiative could become a major test case for how digital assets function in emerging markets where remittances, gig work, and underbanked populations continue to shape financial behavior.
The National QR Ph Network is the Philippines’ standardized quick-response payment framework, designed to create interoperability between banks, e-wallets, and merchants.
With the latest integration, consumers can now scan existing QR Ph codes and pay directly with bitcoin or ethereum through the Coins.ph app. Behind the scenes, the platform automatically converts the selected digital asset into pesos in real time, ensuring merchants receive fiat currency without exposure to crypto market volatility.
According to Coins.ph, early usage data from the initial stablecoin rollout recorded thousands of transactions worth millions of Philippine pesos, with spending patterns reflecting practical day-to-day purchases rather than luxury items or speculative activity.
Wei Zhou, chief executive officer of Coins.ph, said the automated conversion process removes a major barrier that has historically limited crypto payments.
“The true ‘Aha!’ moment for our community occurs when they realize they no longer need to manually sell their crypto to a PHP balance first,” Zhou said.
“This automation removes the psychological barrier of cashing out, allowing stablecoins to finally function as actual money rather than just a speculative trading pair.”
The expansion of the National QR Ph Network to include volatile assets such as bitcoin and ethereum represents a significant evolution from earlier crypto payment models that relied primarily on stablecoins.
While many Filipinos continue to view bitcoin as a long-term investment, Coins.ph said the rollout has revealed a growing segment of users who earn income directly in digital assets.
These users include freelancers, remote workers, content creators, and gig economy participants who receive payments from international clients in cryptocurrencies or stablecoins.
Instead of navigating multiple conversion steps, users can now spend their earnings directly through the National QR Ph Network, reducing transaction costs and minimizing delays associated with traditional banking channels.
Analysts believe the Philippines is uniquely positioned to benefit from this model due to its large overseas workforce and status as one of the world’s top remittance destinations.
Embedding crypto payments into an established national payment rail could accelerate financial inclusion while offering an alternative for consumers who remain underserved by conventional financial institutions.
The success or failure of the National QR Ph Network’s crypto integration may influence how other emerging economies approach blockchain-based retail payments.
The rollout comes as the Bangko Sentral ng Pilipinas strengthens oversight of virtual asset service providers operating in the country.
Under newly issued guidelines, crypto platforms must adopt stricter standards for token screening, monitoring, and delisting procedures.
The central bank now requires providers to evaluate digital assets based on issuer credibility, market maturity, transparency, security, legal compliance, and real-world utility.
Privacy-focused tokens that enhance anonymity have been prohibited, while exchanges must establish clear triggers for suspending or delisting assets during cybersecurity incidents, extreme market conditions, or regulatory breaches.
Zhou said regulatory engagement remains central to the company’s expansion strategy.
“In markets with tightening restrictions, we take an engagement-first approach, working closely with local authorities to demonstrate how a transparent, blockchain-based system actually enhances anti-money laundering and consumer protection efforts,” he said.
Coins.ph is also preparing for the next phase of its Philippine peso-backed stablecoin, PHPC, after completing testing within the central bank’s regulatory sandbox.
Subject to final approvals, PHPC is expected to become a key settlement asset within the National QR Ph Network.
According to Zhou, the peso-backed stablecoin could eliminate the foreign exchange spreads typically associated with dollar-denominated stablecoins.
“While USDT and USDC provide our users with excellent exposure to dollar-backed stability, PHPC will serve as the natural bridge for local commerce by eliminating the foreign exchange spreads typically associated with dollar-pegged assets,” he said.
Although crypto payments currently represent only a small portion of the country’s broader digital payments ecosystem, the integration demonstrates that blockchain-based transactions can operate within existing compliance frameworks at scale.
For payment providers and financial institutions exploring digital asset infrastructure, the National QR Ph Network may now serve as one of the clearest real-world examples of crypto’s transition from investment vehicle to everyday payment tool.
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