A significant step toward transforming cross-border remittances in Southeast Asia has been taken through a new collaboration between 8B, a global payments platform, and Coins.ph, a crypto-enabled digital wallet based in the Philippines. The two companies have jointly launched a remittance solution designed to enhance speed, reduce costs, and increase financial access by utilizing blockchain technology and stablecoins such as USDC.
The initiative addresses long-standing challenges in international money transfers, particularly for Filipinos receiving funds from abroad. Traditional remittance channels have been criticized for high transaction fees, often surpassing 6–7%, as well as for their limited reach in underserved areas, slow processing times, and lack of transparency. The newly launched service is intended to overcome these hurdles by integrating blockchain infrastructure that allows for near-instant transfers, full visibility, and reduced costs.
According to industry data, remittance inflows into the Philippines reached approximately USD 38 billion in 2024, underscoring the importance of efficient and affordable transfer mechanisms for millions of families. The partnership between 8B and Coins.ph aims to modernize the remittance model by creating a seamless pathway for funds to move not only across borders but also into direct and meaningful usage. This marks a shift in the remittance paradigm—from one focused merely on delivery to one that encompasses utility and spending potential.
With the new system in place, recipients of funds through the 8B platform gain immediate access to a range of financial activities via Coins.ph. These include bill payments, mobile recharges, online purchases, and cross-border ecommerce spending—all within a crypto-friendly ecosystem. This innovation expands the role of digital wallets from simple storage tools to multifunctional financial platforms, empowering users with greater autonomy over their finances.
Additionally, the alliance between the two entities includes a strong focus on regulatory compliance and financial education. Both companies have expressed their commitment to working closely with regulatory bodies while also equipping users with the knowledge needed to navigate digital finance confidently. The goal is to foster inclusive digital infrastructure that supports all segments of society, particularly those traditionally excluded from formal financial systems.
8B’s broader mission involves bridging the financial gap in hard-to-reach regions by enabling global businesses to connect with local payment options. Its platform reportedly covers around 80% of underserved areas worldwide, providing partners with the tools needed to operate within intricate regulatory frameworks while ensuring efficiency and inclusivity.
Meanwhile, Coins.ph serves as a multi-functional platform in the Philippines, where users rely on it to handle everyday transactions such as remittances, bill payments, and access to international digital services. By integrating its capabilities with 8B’s cross-border platform, the company aims to redefine how remittances function—not just as monetary transfers, but as gateways to broader financial engagement.
The partnership represents a broader trend in the fintech and blockchain sectors, where innovation is increasingly being directed toward real-world financial inclusion. By eliminating unnecessary intermediaries and streamlining transactions, 8B and Coins.ph seek to democratize financial access and enhance the impact of remittances on everyday life.