Disclaimer: This article is for informational purposes only and does not constitute financial advice. BitPinas has no commercial relationship with any mentioned entity unless otherwise stated.
📬 Get the biggest crypto stories in the Philippines and Southeast Asia every week — subscribe to the BitPinas Newsletter.
Coins.ph said its monthly spot trading volume rose 327% year-on-year in November to $500 million, driven largely by increased activity in stablecoin trading pairs.
The locally licensed crypto exchange said November’s volume was nearly four times higher than the $117 million recorded in the same month in 2024. It also reported an all-time high of $50 million in daily spot trading volume last week.
The figures were disclosed by the company. No independent trading data was immediately available to verify the volumes.
Stablecoins Drive Trading Growth
Coins.ph attributed the surge primarily to rising demand for stablecoins such as Tether (USDT) and USD Coin (USDC), particularly against the Philippine peso.
- Stablecoins, which are digital tokens pegged 1:1 to fiat currencies, are increasingly used for cross-border transfers and corporate disbursements.
- The Philippines received $38.3 billion in remittances in 2024, according to central bank data, making overseas transfers a key pillar of the domestic economy.
Wei Zhou, chief executive of Coins.ph, said demand for USDT-PHP and USDC-PHP pairs reflected “a strong market appetite for efficient, regulated digital asset trading.” He said the company expects stablecoin-led trading activity to remain a key growth driver into 2026.
Liquidity, OTC Activity Expand
The exchange also reported higher volumes on its over-the-counter desk, which caters to high-net-worth individuals and institutional clients executing transactions above 1 million pesos ($17,000).
Coins.ph said it has reduced spreads on its spot market to 3 basis points, compared with what it described as an industry range of 12 to 35 basis points.
The company did not disclose absolute OTC trading figures.
Settlement Integration and Outreach
Recently, Coins.ph integrated with the Circle Payments Network, a payments infrastructure linked to USDC issuer Circle, enabling peso settlement across more than 120 domestic banks and e-wallets, according to the company.
It said it is also conducting education campaigns and roadshows aimed at increasing awareness of stablecoin use cases nationwide.
Coins.ph is one of the longest-operating crypto platforms in the Philippines and holds a virtual asset service provider license from the Bangko Sentral ng Pilipinas.
Disclosure: AI is used to assist in developing this story
This article is published on BitPinas: Coins.ph Says Its Spot Trading Volume Jumps 327% to $500 million in November
What else is happening in Crypto Philippines and beyond?
