Coins.ph explores Circle Arc public testnet for PHPC stablecoin ecosystem

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Coins.ph, the Philippines’ leading digital asset platform,  today announced its participation in the Arc public testnet, a new open, enterprise-grade Layer-1 blockchain network launched by a subsidiary of  Circle Internet Group, Inc. (NYSE: CRCL). Through participation in the Arc public testnet, Coins.ph will explore how its Philippine Peso-pegged stablecoin, PHPC, can be deployed across the network. This potential move, subject to obtaining all necessary regulatory permits and authorizations, underscores Coins.ph’s commitment to leveraging best-in-class infrastructure to drive financial innovation in a fully regulated manner.

Having successfully completed the Bangko Sentral ng Pilipinas Regulatory Sandbox Framework in June 2025, Coins is now preparing to initiate the formal application process to increase minting capacity, and expand its use for cross-border remittances and high-volume transactions.

“We are continuously evaluating technologies that can enhance the utility and efficiency of PHPC for all Filipinos,” said Wei Zhou, CEO of Coins.ph. “Arc Public Testnet presents a compelling environment to explore how we can further reduce the cost and increase the speed of remittances. Our goal is to build the next wave of local Web3 financial services on a foundation of robust and user-centric technology.”

How does Arc benefit PHPC and Filipinos

The potential  participation  in the Arc Public Testnet would allow Coins.ph to test PHPC in an enterprise-grade environment, focusing on key benefits for overseas Filipinos such as improving cross-border remittances and enabling new financial applications.

Arc’s design incorporates specialized infrastructure for stablecoin swaps and FX liquidity, potentially offering a pathway to explore mechanisms that could lead to near-instant, 24/7 cross-border transfers and a significant reduction in transaction costs for millions of Filipinos, particularly Overseas Filipino Workers.

Beyond remittances, the Arc network’s EVM-compatible architecture provides the ideal platform for Coins.ph’s developers to experiment with new decentralized finance (DeFi) applications and Web3 services, building novel use cases on the foundation of a stable, local digital currency.

Coins.ph is actively engaged with regulatory bodies and remains dedicated to securing the approvals that would allow PHPC to formally participate in and help build the future of the internet economy.

About Coins.ph

Coins.ph is an all-in-one financial app for millions, seamlessly fusing traditional finance with digital assets. Established in 2014, it stands as the Philippines’ premier cryptocurrency exchange. Licensed by the BSP as both a virtual asset marketplace and a mobile wallet, the platform empowers users to trade, execute payments, and utilize crypto remittance for sending and receiving funds quickly and affordably, all in one secure place.