Today, the Philippine Peso stablecoin (PHPC) is exiting the Bangko Sentral ng Pilipinas (BSP) Regulatory Sandbox Framework, with all remaining PHPC fully redeemable – unlocking greater minting capacity to power larger, seamless transactions in the coming months.
Following the successful sandbox pilot that began in 2024, PHPC has demonstrated its stability, security, and utility for Filipino users. Within two months of the sandbox, PHPC was able to meet and exceed the set KPIs, showing the demand and use cases available for the stablecoin. The completion of the regulatory sandbox marks a significant milestone in the Philippines' digital currency ecosystem and positions PHPC for broader adoption across multiple use cases.
With sandbox restrictions lifted, Coins.ph is now preparing for the next phase of PHPC’s growth operations, following the necessary regulatory requirements. This is set to increase the supply of PHPC to meet growing market demand. This expanded minting capacity will support larger transaction volumes and enable new applications for the stablecoin across the Philippine financial ecosystem.
"Exiting the BSP regulatory sandbox represents a pivotal moment for PHPC and the broader adoption of digital currencies in the Philippines," said Wei Zhou, CEO of Coins.ph. "We can now unlock PHPC's full potential, particularly in areas where Filipinos need it most – remittances and cross-border transactions."
One of the most significant applications of PHPC's expanded capacity lies in addressing the Philippines' massive remittance market. As one of the world's largest recipients of remittances, PHPC will revolutionize how these critical funds flow into the country. The stablecoin enables faster, cheaper, and more accessible transfers by eliminating traditional banking intermediaries, reducing processing times from days to minutes, and allowing recipients to access funds without requiring traditional bank accounts.
The successful completion of the BSP sandbox program positions the Philippines as a regional leader in stablecoin regulation and adoption. Coins.ph's collaboration with the BSP has established important precedents for how digital assets can be safely integrated into national financial systems.
"This achievement reflects the BSP's positive approach to digital innovation and our commitment to building compliant, user-focused financial products," added Zhou. "We look forward to working with regulators, partners, and the Filipino community to realize PHPC's full potential in modernizing how money moves in and out of the Philippines."
As part of the exit process, Coins.ph continues to maintain comprehensive BSP compliance requirements including public disclosure of PHPC holders, regular progress reporting to the BSP, and independent third-party audits covering proof of reserves, smart contract security, and system vulnerability assessments.
PHPC remains fully backed by cash and cash equivalents held in Philippine bank accounts, maintaining its 1:1 peg to the Philippine Peso. Users can continue to deposit and withdraw PHPC through both the Coins.ph platform.
