The Ronin Network has integrated PHPC, a Philippine peso-pegged stablecoin, onto its platform, announced via Ronin’s X account. This launch is in collaboration with Coins.ph, a leading Philippine crypto trading platform.
PHPC, approved by the Central Bank of the Philippines in May, aims to make remittances more affordable. Fully regulated by the Bangko Sentral ng Pilipinas, it’s being piloted under the BSP’s Regulatory Sandbox Framework.
This milestone makes PHPC the second stablecoin on Ronin, next to USDC. The Philippines plays a significant role in blockchain gaming, notably with Sky Mavis’ Axie Infinity. Coins.ph has over 18 million accounts, including 7 million active monthly users, about 6% of the Philippines’ population.
PHPC is now active for deposits and withdrawals on Coins.ph and the Ronin Wallet. Future plans include listing PHPC/RON on Katana, Ronin’s decentralized exchange. The stablecoin is backed by Philippine bank reserves, ensuring its stability.
The Philippine crypto market faces increasing regulatory scrutiny, with the NTC blocking unlicensed platforms like MiTrade and OctaFX. This underscores the government’s commitment to a safer digital asset ecosystem.
Ronin also released Mobile Wallet version 2.4.0 for iOS and Android, featuring custom RPC, gas fee, and nonce settings, among other enhancements.
This integration of PHPC is strategically significant for Ronin, potentially boosting crypto adoption among millions of Filipino gamers and users.
