Leading Filipino crypto exchange Coins.ph has launched its Philippine Peso stablecoin, PHPC, on the Ronin blockchain.

In a Monday post on X, the exchange, which boasts an impressive user base of over 18 million, revealed it has obtained approval from the Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, to pilot PHPC under the BSP’s Regulatory Sandbox Framework.

PHPC is a stablecoin specifically designed to be pegged to the Philippine Peso, with each token fully backed by