Coins.ph, a Philippine cryptocurrency exchange, has teamed up with Australia's Stables Money to utilize Coins.ph's PHPC stablecoin for remittances. Stables Money, which entered the Philippine market in March, has seen a significant portion of its send transactions in Philippine pesos. The Philippines, being the largest remittance importer in Southeast Asia, received $34.9 billion in remittances in 2020. PHPC, backed by Coins.ph reserves, was included in the Bangko Sentral ng Pilipinas' regulatory sandbox in May and launched in July. Stables Money also collaborated with Mastercard to enable USDC spending in the Asia-Pacific region and expanded to Europe. Despite previous failed attempts by other entities, PHPC has gained traction in the Philippine remittance market, especially on the Ronin network's Katana decentralized exchange. Read more AI-generated news on: https://app.chaingpt.org/news