Veem x Coins.ph expand partnership for seamless payments between US, Canada, and Philippines

Veem and Coins.ph expand partnership to enhance cross-border payments to the Philippines.

Coins x Veem partnership logo

International money transfer made easier

Veem, a global payments provider, and Coins.ph, a digital wallet platform in the Philippines, have announced an expansion of their existing partnership. 

The collaboration aims to improve cross-border payment services from the United States and Canada to the Philippines.

Under the expanded agreement, Coins.ph will continue to serve as a local payout provider for Veem in the Philippines. 

The partnership establishes a channel for corporate payouts, contractor payments, and supplier disbursements, with additional settlement methods such as stablecoins. The model is designed to enable faster and more cost-effective transfer of funds while maintaining regulatory compliance and providing payout options.

The arrangement also addresses common challenges in cross-border payments, including international wire fees, foreign exchange rates, process complexity, and transfer timelines. The service is tailored for remote workers, freelancers, virtual assistants, and small outsourcing firms in the Philippines who receive international payments.

New payment channel for speed and cost efficiency

Veem's licensed collection infrastructure in North America will integrate with Coins.PH's regulated payout services in the Philippines. Veem maintains USD liquidity in advance, allowing Coins.ph, a BSP-licensed provider, to handle local compliance, convert USD to Philippine Pesos at competitive rates, and disburse funds through domestic channels. Both companies are also exploring new digital settlement methods, including USDC.

Businesses in the U.S. and Canada gain a faster alternative to traditional international bank transfers. Recipients in the Philippines can receive funds through bank deposits, digital wallets, or other local payout rails.

Managed payouts for businesses and recipients

For companies in North America, the partnership provides a platform to manage payments to remote workers and contractors in the Philippines. Veem offers tools for mass payouts, payment tracking, and reconciliation.

For freelancers and remote workers in the Philippines, the service aims to provide faster access to funds, competitive exchange rates, and low withdrawal fees. Funds can be accessed through over 100 banks and e-wallets via Coins.ph.

This partnership brings together Veem's robust global payment network with Coins. Veem's deep local payout capabilities, creating a market-leading experience, said Marwan Forzley, Veem CEO and Co-Founder. 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 or remittance rails can offer. It is a win-win for our customers and the Filipino workers they rely on. 

Coins.ph Chief Executive Officer, Wei Zhou, also expressed full support for the collaboration.

Partnering with Veem is a significant step forward in our mission to bring fast, affordable, and compliant financial services to the Philippines. By combining Veem's robust global payment network with Coins.ph's regulated, localized expertise, we are not just speeding up transfers, 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 and trusted gateway for global funds entering the Philippine economy.

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