The partnership also enables individuals to have direct access to cross-border services and products. The two companies aim to optimise remittance flows and remove costly intermediaries by integrating blockchain-based infrastructure and stablecoins such as USDC.
In the country, remittances reached approximately USD 38 billion in 2024. The new model represents a change in how value is transferred and utilised, bridging the gap between economic participation and financial support.
For a long time, cross-border remittances remained expensive, with fees exceeding 6-7%, slow, limited in reach, especially in unbanked areas, and with poor transparency and hidden fees. The Coins.ph wallet aims to tackle these issues with blockchain-based rails that remove friction, increase speed, and offer full visibility into transactions.
Funds sent through 8B can be spent instantly on platforms supported by Coins.ph, offering recipients more autonomy and utility. When receiving money, besides traditional cash-out models, recipients in the Philippines can now spend received funds directly via Coins.ph, including on cross-border ecommerce and digital products.
As blockchain adoption rises, the partnership aims to work alongside regulators, help users with educational tools, and build accessible digital pathways that serve all verticals of society. The two companies also aim to expand the way remittances work. Rather than stopping at delivery, 8B and Coins.ph allow funds to flow from sender to real-world usage, supporting purchases across borders.
8B connects global businesses with local payment methods in hard-to-reach markets. Its platform covers 80% of underserved regions, supporting partners in navigating complex regulatory landscapes while offering compliant, inclusive, and efficient international financial services.
Coins.ph is a digital wallet in the Philippines and a crypto-enabled platform. Its users leverage it to manage their remittances, pay bills, buy mobile load, and access global digital marketplaces.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now