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Coins.ph Unveils PHPC Stablecoin on Ronin Blockchain

Coins.ph, a leading cryptocurrency exchange in Philippines, has introduced PHPC, the first Philippine Peso stablecoin
July 9, 2024

Coins.ph, a leading Filipino crypto exchange, has made a significant move by launching its Philippine Peso stablecoin, PHPC, on the Ronin blockchain. This initiative, approved by the Bangko Sentral ng Pilipinas (BSP), aims to enhance financial transaction efficiency across the Philippines.

PHPC, designed as a stablecoin pegged 1:1 to the Philippine Peso, is fully backed by cash and equivalents held in Philippine bank accounts. This ensures users can confidently convert PHPC to fiat currency seamlessly.

The introduction of PHPC on Ronin, known for its prominence in web3 gaming with platforms like Axie Infinity, signifies Coins.ph's strategic expansion into digital finance within the gaming ecosystem. This move not only supports the burgeoning web3 gaming sector but also opens new avenues for financial inclusion and innovation in the Philippines.

Coins.ph and Ronin are exploring further collaborations beyond PHPC's listing, including opportunities in payments, transfers, and trading. Plans to list the PHPC/RON pair on Katana, a decentralized exchange on Ronin, further integrate the stablecoin into the web3 gaming economy.

This development aligns with broader regulatory efforts in the Philippines, including upcoming guidelines from the securities regulator aimed at ensuring safe and regulated crypto trading. As Coins.ph pioneers the adoption of PHPC on Ronin, it marks a pivotal moment in bridging digital currencies with everyday transactions and gaming in the Philippines.

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