Veem and Coins.ph have partnered to improve payments from the US and Canada to the Philippines, addressing inefficiencies in international payouts.
The collaboration strengthens payout infrastructure for businesses sending funds to Filipino contractors, freelancers, and suppliers, while ensuring regulatory compliance and offering additional settlement options, including stablecoins.
Under the expanded arrangement, Coins.ph continues to serve as one of Veem’s local payout partners in the Philippines. The model introduces a more efficient channel for corporate disbursements, contractor payments, and supplier payouts, enabling faster settlement times and lower overall costs. By leveraging pre-funded liquidity and local payout rails, the partnership reduces reliance on traditional international wire transfers, which are often slow and expensive.
Building more efficient cross-border payment rails
Veem’s licensed collection infrastructure in North America operates in coordination with Coins.ph’s BSP-regulated payout capabilities in the Philippines. Funds collected in USD are pre-funded, allowing Coins.ph to perform local compliance checks, convert currencies at competitive foreign exchange rates, and distribute Philippine pesos through domestic banking and digital wallet networks. This approach improves speed and predictability while offering recipients flexibility across banks, e-wallets, and instant payout channels. The companies are also exploring digital settlement methods such as USDC as part of ongoing product development.
The expanded partnership is relevant given the scale of cross-border payments flowing into the Philippines. The country received around USD 38 billion in remittances in 2024, accounting for 8.3% of GDP. At the same time, the Philippines has become one of the world’s largest hubs for remote work, ranking among the top global markets for freelancers and virtual assistants. Industry estimates suggest that more than 1.5 million Filipinos work as online freelancers, contributing billions of dollars annually to the local economy.
For companies in the US and Canada, the Veem–Coins.ph integration provides a single platform for managing mass payouts, payment tracking, and reconciliation at scale. For Filipino professionals and small businesses, it offers faster access to funds, improved FX transparency, and broader payout options nationwide. Together, Veem and Coins.ph are positioning their expanded partnership as a scalable solution for cross-border payments to the Philippines, aligned with the country’s digital economy growth and increasing demand for efficient global payment infrastructure.
