Coins.ph expands to Europe, UK

MANILA, Philippines —  Coins.ph is expanding its financial services footprint into Europe and the United Kingdom through a partnership with London-based payments infrastructure provider Clear Junction, marking another step in the Philippine digital wallet’s push to grow its international business.

The partnership will allow Coins.ph to support money movement in euros and British pounds for corporate and financial institution clients, giving them access to payment infrastructure in the European and UK markets.

Under the arrangement, Coins.ph will tap Clear Junction’s payment technology to provide named virtual International Bank Account Numbers (IBANs) as well as access to local payment rails such as the Single Euro Payments Area (SEPA) Instant system in Europe and Faster Payments in the UK.

The fintech company said these services are intended to make cross-border transactions faster and easier to track, particularly for businesses that need to collect funds, send payouts and move money across different jurisdictions.

“Clear Junction gives us the European payment infrastructure we need as our international business continues to grow. Through the partnership, we can support named account structures, local payment rail access and a clearer operating framework for our corporate and financial institution clients,” Coins.ph CEO Wei Zhou said.

“What stood out was their technical capability and understanding of the high standards required for global money flow. This allows us to provide a better, faster experience for our corporate clients,” he added.

Coins.ph said the expansion is aimed at improving the efficiency of cross-border payments, which remain important for remittances, trade and corporate money movement.

Through virtual IBANs, clients may receive named virtual accounts that allow them to better identify and track incoming funds.

The company said support for SEPA Instant and Faster Payments would also allow money to move in seconds instead of days.