Coins.ph, the Philippines’ leading licensed crypto and digital wallet, participated in a recent business mission to the city, spearheading a campaign to educate Overseas Filipino Workers (OFWs) on the power of stablecoin-powered remittances.
Coins.ph chief executive officer Wei Zhou delivered a presentation to the Filipino community at the “Financial Literacy & Digital Adoption Program for the OFW Community” event organized by the Fintech Alliance Philippines, in collaboration with the Overseas Workers Welfare Administration.
At present, there are an estimated 200,000 OFWs in Hong Kong, and remittances from Hong Kong account for roughly 3% of total remittances sent to the Philippines. Hong Kong is also part of the Top 10 Countries in terms of remittance volume.
Zhou’s address focused on “Leveraging Stablecoin Technology for Fast, Affordable Money Transfers,” and highlighted the emergence and global acceptance of stablecoins, a type of digital money with a fixed value. He emphasized that more users around the world are starting to use stablecoins for sending remittances due to their speed and efficiency, which directly addresses the problems of multi-day delays and high fees historically faced by OFWs.
“The future of cross-border payments is digital, and stablecoins are at the forefront of this shift,” said Wei Zhou. “This opportunity allowed us to engage directly with the OFW community, reinforcing our commitment to financial inclusion and educating them on how digital adoption can lead to greater financial empowerment and security for their families back home.”
The mission concluded with the Coins.ph team participating in a courtesy call with Consul General of the Philippines in Hong Kong Romulo Victor M. Israel, Jr., reaffirming the company’s dedication to secure and efficient financial solutions for Filipinos worldwide.