Coins.ph has roared into the new year with record-breaking numbers, posting a 327 percent surge in spot trading volume as stablecoins cement their role in the country’s fast-evolving digital finance landscape.
The Philippine-based exchange logged USD500 million (about P29.4 billion) in spot trades in November, nearly quadrupling the USD117 million recorded in the same month last year. Momentum accelerated further last week, when the platform hit an all-time high of USD50 million in daily spot trading volume — a signal, executives say, of deepening liquidity and mainstream demand.
Fueling the rally is the rising utility of dollar-pegged stablecoins such as Tether (USDT) and USD Coin (USDC). With Philippine remittances reaching USD38.3 billion in 2024, businesses and individuals are increasingly turning to blockchain-based dollars for faster, more transparent cross-border payments, payroll distribution, contractor compensation, and supplier settlements.
“These spot trading milestones are a testament to the critical role stablecoins are playing in modernizing Philippine finance,” said Wei Zhou, CEO of Coins.ph, pointing to strong appetite for USDT-PHP and USDC-PHP trading pairs. He added that sustained demand is expected to shape both the company’s growth and the broader digital asset market through 2026.
Institutional interest is also climbing. The exchange’s OTC Desk reported robust volumes from high-net-worth and corporate clients, supported by liquidity conditions delivering spreads as tight as 3 basis points — significantly below the 12 to 35 bps common on rival venues.
Coins.ph recently integrated with the Circle Payments Network to extend its lead, enabling near-instant peso settlements across more than 120 local banks and e-wallets, while launching nationwide education drives to accelerate stablecoin adoption.
Stablecoins are no longer niche in the Philippine crypto market, they are infrastructure.
