Coins.ph, the Philippine’s leading digital wallet provider and crypto exchange platform, supports the Bangko Sentral ng Pilipinas (BSP) and Department of Interior and Local Government (DILG) during the launch of the Paleng-QR PH in Naga and Lapu-Lapu City.
The Paleng-QR PH, a key program in the BSP Digital Payments Transformation Roadmap, aims to help local markets and transportation, particularly tricycles, to embrace cashless transactions and go digital.
Through their Coins.ph app, Filipinos can scan and pay via the national QR code with ease. This initiative leverages how millions of Filipinos already have the capability to pay digitally as the BSP hopes to utilize this opportunity while empowering local merchants through efficient ways of business.
“Coins.ph shares the vision of the Paleng-QR PH program to empower more Filipinos to embrace digital adoption. Through this fast and convenient payment method, we hope that users and merchants feel financially included as digital finance grows in our country,” Wei Zhou, CEO of Coins.ph, said when asked about the company’s partnership with BSP’s Paleng-QR PH program.
Several local government units across the country, including Baguio City, Tagbilaran City, Davao City, Naga City and Lapu-Lapu City have launched Paleng-QR PH in their respective markets and communities as part of the massive rollout plan by BSP.
During these launches, Coins.ph was able to interact with locals to help them set up accounts and guide them on how to make the most of the services the app offers.
In the coming months, the Paleng-QR PH will be launching in other cities, within and outside Metro Manila, so more communities can be financially included and empowered.
Launched in 2014, Coins.ph is the most established crypto brand in the Philippines and has more than 16 million users. It offers a wide range of products, from e-wallet, crypto trading and remittance services, which millions of Filipinos already enjoy.
Through the easy-to-use mobile app, users can buy and sell a variety of cryptocurrencies and access a wide range of financial services. Coins.ph is fully regulated by the Bangko Sentral ng Pilipinas and is the first crypto-based company in Asia to hold both Virtual Currency and Electronic Money Issuer licenses from the central bank.