Coins.ph Adds Bitcoin and Ethereum to National QR Ph, Reaching 700,000 Philippine Merchants

Coins.ph has expanded the Philippines’ national QR Ph payment network to support Bitcoin and Ethereum, enabling crypto payments at nearly 700,000 merchants. The move is an important real-world adoption test for digital assets in an emerging market with high remittance flows and a large unbanked population. Early transaction data reportedly shows usage for everyday purchases such as groceries, tuition, and appliances rather than just speculative activity. The system uses backend liquidation to shield merchants and consumers from crypto volatility, which could improve usability and accelerate retail adoption. The article also notes that Coins.ph is pursuing a Philippine peso-backed stablecoin, PHPC, pending BSP approval, while the central bank has tightened oversight of virtual asset service providers. Overall, the development is supportive for crypto adoption and payment utility, but regulatory scrutiny remains a key constraint.