Coins.ph Launches BSP-Approved PHPC Stablecoin on Ronin

Coins.ph has introduced its Philippine Peso (₱) stablecoin PHPC on the Ronin blockchain.

Coins.ph recently announced the listing of its Philippine Peso (₱) stablecoin (PHPC) on the Ronin blockchain. This marks a significant development in the company's efforts to expand the reach of its stablecoin. Here's a closer look at the news and its implications.

The listing of PHPC on Ronin was initially teased by Coins.ph CEO Wei Zhou during a previous BitPinas webcast. Now, with the stablecoin being made available on the blockchain, it opens up new possibilities for Filipinos who use both Coins.ph and Ronin.

The integration of PHPC into the Ronin ecosystem will make it cheaper and easier for Filipinos to send money, pay merchants, and perform other transactions using cryptocurrency. This is especially relevant for those who play popular games like Axie Infinity and Pixels Online, which are built on the Ronin blockchain.

Both PHPC deposits and withdrawals are now available on Coins.ph and the Ronin Wallet. However, it's important to note that PHPC is still not available for swapping on the Ronin Wallet.

As part of the listing announcement, Sky Mavis Co-Founder Jeff Zirlin expressed his enthusiasm about Coins' decision to list PHPC on Ronin.

“We are thrilled that Coins has decided to list PHPC on the blockchain that we have developed. With this move, Ronin is ascending beyond its original mandate as a gaming chain and entering the realm of real-world payments and merchant transactions. Together with Coins and the broader PHPC community, we look forward to seeing a PHPC and RON trading pair on Katana.”

Meanwhile, Wei Zhou also highlighted the significance of listing PHPC on Ronin specifically.

“It was important for us to list PHPC on Ronin because many Filipinos and Coins.ph customers use Ronin and there are a number of areas Ronin and Coins are looking to collaborate on when it comes to using PHPC for transfers, payments, trading and more.”

In the coming weeks, Coins.ph will be working closely with the Ronin team to ensure a smooth integration of PHPC into the blockchain and to explore further use cases for the stablecoin within the Ronin ecosystem.

This development follows the recent approval of PHPC by the Bangko Sentral ng Pilipinas (BSP). The stablecoin is now fully regulated and can be used for various financial transactions within the Philippines.

Coins.ph is also planning to list PHPC on other international platforms in the near future, expanding the reach of the Philippine Peso stablecoin even further. Keep an eye out for more updates on this and other cryptocurrency news in the Philippines.