Press Release
Veem, a leading global payments provider, and Coins.ph, the Philippines’ largest and pioneering crypto and digital wallet platform, has announced an expansion of their long-standing partnership to further improve cross-border payment experiences from the U.S. and Canada to the Philippines.
Under the expanded partnership, Coins.ph will continue to act as one of Veem’s trusted local payout providers in the Philippines, establishing a new, highly efficient channel for corporate payouts, contractor payments, and supplier disbursements, with additional settlement methods such as stablecoins. This expanded model enables faster, more cost-effective delivery of funds into the Philippines while maintaining strong regulatory compliance and payout optionality.
This relationship directly addresses the long-standing pain points that have frustrated both global businesses and Philippine recipients for years, such as high international wire fees, poor foreign exchange rates, complex processes, and slow payout timelines. Together, Veem and Coins.ph have created a solution specifically designed for the massive and rapidly growing segment of Filipino remote workers, freelancers, virtual assistants, and small outsourcing firms who rely on timely, cost-effective international payments.
New end-to-end payout rail built for speed, savings, and simplicity
Today, Veem’s licensed collection infrastructure across North America works in tandem with Coins.ph’s regulated local payout capabilities in the Philippines to deliver a faster, more reliable cross-border payment experience. Veem maintains USD liquidity in advance, which allows Coins.ph, as a BSP-licensed financial services provider, to manage local compliance checks, convert USD to Philippine Pesos (PHP) at transparent and competitive FX rates, and disburse funds quickly through its domestic payout rails. In parallel, Veem and Coins.ph are exploring new digital settlement methods, including USDC, as part of ongoing product innovation.
As a result, businesses in the United States and Canada gain a faster and more predictable way to send payments to the Philippines compared with traditional international bank transfers, which often take several days to settle. Coins.ph ensures that the PHP reaches the recipient through their preferred local channel, including bank deposits to all major networks, popular digital wallets, and other instant payout rails, for optionality and convenience.
Solving C\critical payment pain points for businesses and Filipino professionals
For employers, agencies, and companies in the United States and Canada, this partnership gives them a single platform to manage payouts to remote workers, contractors, and small outsourcing teams in the Philippines. Veem provides the tools businesses need to operate at scale, including mass payouts, payment tracking, and reconciliation, which helps reduce the operational burden of managing cross-border payments.
For freelancers, remote workers, and contractors in the Philippines, a crucial segment driving the nation’s service economy, this integration helps resolve common challenges associated with receiving income from abroad. Recipients benefit from:
● Faster Access to Funds: Near-instant receipt of funds instead of waiting days.
● Better FX Rates: Highly competitive foreign exchange rates and low withdrawal fees.
● More Flexibility: Direct access to over 100 banks and e-wallets nationwide through Coins.ph.
“This partnership brings together Veem’s robust global payment network with Coins.ph’s deep local payout capabilities, creating a market-leading experience,” said Marwan Forzley, Veem CEO and Co-Founder. “By leveraging the pre-funded model and Coins.ph’s local expertise, we can deliver a faster, cheaper, and far more scalable solution for paying the Philippines than traditional banks or remittance rails can offer. It is a win-win for our customers and the Filipino workers they rely on.”
Coins.ph Chief Executive Officer Wei Zhou expressed full support for the collaboration. He said “Partnering with Veem is a significant step forward in our mission to bring fast, affordable, and compliant financial services to the Philippines. “By combining Veem’s robust global payment network with Coins.ph’s regulated, localized expertise, we are not just speeding up transfers, we are empowering Filipino freelancers and small businesses by ensuring they get paid reliably, instantly, and with maximum value. This alliance solidifies Coins.ph as the premier and trusted gateway for global funds entering the Philippine economy.”
