The exchange recorded a landmark performance in November, reaching $500 million (about P29.4 billion) in spot trading volume — nearly four times higher than the $117 million logged in the same month in 2024.
The growth trajectory continued, with Coins.ph recently hitting an all-time high of $50 million in daily spot trading volume.
What’s driving it
At the center of the surge is the evolving role of stablecoins. Once viewed largely as speculative digital assets, stablecoins such as USDT and USDC — pegged 1:1 to traditional currencies like the US dollar — are now serving as essential financial infrastructure.
In the Philippines, where remittances reached $38.3 billion at the end of 2024, stablecoins are increasingly being used as a faster, more transparent alternative to traditional banking channels. They are now commonly utilized for corporate payouts, contractor payments, and supplier disbursements.
“These spot trading milestones are a testament to the critical role stablecoins are playing in modernizing Philippine finance,” Wei Zhou, CEO of Coins.ph, said in a statement.
He added that strong demand for USDT-PHP and USDC-PHP trading pairs signals sustained market appetite for regulated and efficient digital asset trading, a trend expected to shape the platform’s trajectory through 2026.
Platform advantage
Coins.ph’s Spot Trade feature operates as a professional-grade order-book exchange, offering users greater control, lower fees, and advanced tools compared to standard retail buy-and-sell options.
Prices are determined by market supply and demand, allowing users to trade directly with one another, the company said in the statement.
The company has also reported strong volumes from its Over-the-Counter (OTC) Desk, a specialized service catering to high-net-worth individuals and institutional clients executing transactions exceeding P1 million.
The OTC Desk provides deep liquidity, zero slippage, and personalized support, ensuring that large-scale trades do not disrupt broader market pricing.
Cost efficiency
A key factor behind Coins.ph’s competitiveness is its reduced trading spread — the difference between buy and sell prices.
The exchange has narrowed this to an industry-low 3 basis points (bps), significantly lower than the 12 to 35 bps range seen in other exchanges.
By minimizing transaction friction, the platform enables high-volume traders to retain more value.
What’s next
To sustain its stablecoin-driven growth, Coins.ph recently integrated into the Circle Payments Network, enabling near-instant and compliant peso settlements across more than 120 domestic banks and e-wallets.
The company is also conducting nationwide educational campaigns and roadshows to raise awareness of stablecoins’ real-world applications, aiming to equip more Filipinos with tools for efficient, low-cost financial transactions. —Ed: Corrie S. Narisma
