Coins.ph CEO Wei Zhou discusses how the Philippines-based crypto exchange is using Stellar and stablecoins to enable remittances and financial empowerment for overseas Filipino workers, reducing remittance costs from 4-5% to 1-2% while expanding to other emerging markets.
Wei Zhou, CEO of Coins.ph, shares how the licensed Philippine crypto exchange and e-wallet is leveraging Stellar and stablecoins to serve the diaspora remittance use case. With 15 million Filipinos working overseas sending $40 billion annually in remittances, Coins.ph has reduced remittance costs from typical 4-5% to 1-2% using USDC and their own peso-backed stablecoin PHPC. The company is expanding its fiat node model to Latin America, Africa, and Europe, working with Stellar to connect overseas workers in the UAE directly to stablecoins. Zhou emphasizes the shift from financial inclusion to financial empowerment, enabling workers to deploy capital and build businesses at home.
