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Coins.ph, a locally licensed cryptocurrency exchange, announced that it joined the Arc public testnet, an open, USDC-issuer Circle’s newly launched enterprise-grade Layer-1 blockchain network for stablecoin settlement and tokenized markets.
PHPC Joins Arc Testnet
According to the crypto exchange, joining in the testnet will allow it to explore how its Philippine Peso-pegged stablecoin, PHPC, can be deployed across the network.
“This potential move, subject to obtaining all necessary regulatory permits and authorizations, underscores Coins.ph’s commitment to leveraging best-in-class infrastructure to drive financial innovation in a fully regulated manner.”
Coins.ph, Issuer, PHPC
Moreover, PHPC’s participation allows the issuer to focus on key benefits for overseas Filipinos, such as improving cross-border remittances and enabling new financial applications, as per Coins.ph.
Meanwhile, aside from remittances, the local exchange also sees PHPC to be used for decentralized finance applications and web3 services because Arc is EVM-compatible.
“Arc’s design incorporates specialized infrastructure for stablecoin swaps and FX liquidity, potentially offering a pathway to explore mechanisms that could lead to near-instant, 24/7 cross-border transfers and a significant reduction in transaction costs for millions of Filipinos, particularly Overseas Filipino Workers.”
Coins.ph, Issuer, PHPC
What’s Next for PHPC?
In a media release received by BitPinas, Coins.ph shared that the issuer is “now preparing to initiate the formal application process” of PHPC to increase its minting capacity and expand its use for cross-border remittances and high-volume transactions.
The stablecoin issuer then assured that it is engaging with regulators to ensure its security, where PHPC can “help build the future of the internet economy.”
“We are continuously evaluating technologies that can enhance the utility and efficiency of PHPC for all Filipinos. Arc Public Testnet presents a compelling environment to explore how we can further reduce the cost and increase the speed of remittances. Our goal is to build the next wave of local Web3 financial services on a foundation of robust and user-centric technology.”
Wei Zhou, Chief Executive Officer, Coins.ph
Coins.ph’s Recent Stablecoin Initiatives
In a November 2025 keynote speech, Zhou emphasized how stablecoins are increasingly being adopted worldwide for cross-border payments, explaining that stablecoins offer faster and more efficient remittances compared with traditional methods, addressing long-standing issues of multi-day delays and high fees faced by OFWs.
In October 2025, Coins.ph partnered with global remittance service provider BCRemit to launch a stablecoin-powered remittance service that promises to allow users to remit funds in minutes and save up to 80% in transfer costs compared to traditional banking channels.
Also in the same month, the crypto exchange launched a limited-time low-cost trading promotion for its USDT/PHP pair through its TradeDesk platform. The promo will run until December 15, 2025.
Meanwhile, Coins.ph in July 2025 partnered with Hong Kong-based HashKey Exchange, a subsidiary of HashKey Group, to establish a 24/7 digital asset-powered remittance corridor between the two countries. The partnership enables seamless, real-time fund transfers between PHP and HKD through direct integration between the two exchanges.
This article is published on BitPinas: Coins.ph Teams Up with Circle’s Arc Testnet to Expand PHPC Stablecoin Utility
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