Coins.ph, the Philippines’ leading licensed crypto and digital wallet, participated in a recent business mission to Hong Kong, 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,” an 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 the city account for roughly 3% of total remittances sent to the Philippines. Hong Kong is also among the top 10 countries in terms of remittance volume.
Zhou’s address, focused on “Leveraging Stablecoin Technology for Fast, Affordable Money Transfers,” highlighted the emergence and global acceptance of stablecoins, a type of digital money with a fixed value. He emphasized how more users around the world are beginning to use stablecoins for remittances due to their speed and efficiency over conventional methods, addressing the long-standing issues of multi-day delays and high fees faced by OFWs.
“The future of cross-border payments is digital, and stablecoins are at the forefront of this shift,” said 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 joining 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.
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PHOTO CREDIT: Screenshot from the Final Pitch.
