Veem and Coins.ph Strengthen Alliance to Introduce Advanced Digital Settlement Functions for North American Payments to the Philippines
Global payments leader Veem and local crypto giant Coins.ph have officially expanded their partnership. This move introduces enhanced digital settlement capabilities designed to streamline how businesses in the U.S. and Canada send money to the Philippines.
 |
| Veem and Coins.ph Level Up; Faster, Cheaper Digital Payments from North America to PH |
By integrating Veem's licensed North American collection infrastructure with Coins.ph's regulated local payout rails, the duo is tackling the high fees and slow processing times typical of traditional banking.
The Tech Behind the Speed
The upgraded system utilizes a pre-funded liquidity model. Veem maintains USD reserves, allowing Coins.ph—a BSP-licensed provider—to bypass slow international wires.
- Instant Conversion: USD is converted to PHP at competitive, transparent rates.
- Local Compliance: Coins.ph handles all domestic regulatory checks for seamless delivery.
- Future-Ready: Both companies are actively exploring USDC and stablecoin settlements to further optimize transaction speed.
See Also: Coins.ph Superapp; Unlocking Financial Control in the Philippines
Why This Matters for the Philippine Tech & Freelance Sector
This partnership specifically targets the country's booming remote work and outsourcing industry. For virtual assistants, software developers, and BPO firms, the benefits are immediate:
- Rapid Payouts: Near-instant fund availability, replacing the 3-5 day wait of legacy banks.
- Maximized Earnings: Lower foreign exchange spreads and reduced withdrawal fees mean more take-home pay.
- Unmatched Versatility: Recipients can choose to receive funds via 100+ local banks and e-wallets (like GCash or Maya) through the Coins.ph network.
- Corporate Benefits for North American Employers
For companies in the U.S. and Canada, the Veem platform acts as a centralized hub for managing a Filipino workforce. Key features include:
- Mass Payouts: Send payments to hundreds of contractors simultaneously.
- Full Transparency: Real-time payment tracking and automated reconciliation.
- Regulatory Peace of Mind: Both entities operate within strict financial frameworks to ensure secure, compliant transfers.
Direct Quotes
- "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," said Marwan Forzley, CEO of Veem.
- Wei Zhou, CEO of Coins.ph, added: "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 gateway for global funds."