Coins.ph launches institutional FX with 2 bps spreads, undercutting Philippine banks
Coins.ph, the Philippines’ largest digital-asset platform, has launched an institutional-grade foreign exchange (FX) service offering ultra-tight spreads of 2 basis points (0.02%) on major G10 pairs including USD/PHP, USD/EUR and USD/JPY. Backed by Bangko Sentral ng Pilipinas (BSP) licences for Foreign Exchange, Remittance & Transfer and Money Changing, the service targets corporate and institutional clients with a $20,000 minimum trade size, no maximum transaction limit, near-instant settlement, and next-business-day spot hedging. CEO Wei Zhou credits the pricing to the company’s regulated agility, faster settlement and improved risk management, allowing it to undercut typical Philippine bank institutional fees (~10 bps) and far below retail spreads (80–90 bps). The launch complements Coins.ph’s recent moves into stablecoin-enabled remittances and partnerships (including BCRemit and a Memorandum of Understanding with Vietnam’s Best Way Corporation) and participation in Circle’s Arc testnet for stablecoin settlement. For crypto traders and institutional treasury desks, the offering signals deeper FX liquidity, lower hedging and cross-border payment costs, and a regulated counterparty alternative for fiat and digital-asset flows—potentially improving execution and reducing FX costs for large-volume trading and corporate FX operations.
Neutral
Direct price impact on cryptocurrencies mentioned in the articles is limited—no specific crypto token price is discussed. The news primarily affects FX execution, treasury operations and cross-border payment costs for institutional clients operating between fiat and crypto. Short-term: traders using Coins.ph for fiat on-/off-ramps may see tighter FX execution and lower hedging costs, improving cost of entry/exit for large fiat-denominated trades, but this is unlikely to move major crypto prices directly. Long-term: broader adoption of regulated, low-cost institutional FX and stablecoin settlement could lower operational friction for crypto firms and institutional flows into the Philippine market, potentially supporting trading volumes and fostering greater on/off-ramp efficiency. Overall, price direction for tokens themselves should remain neutral absent explicit token-related liquidity or adoption events.