Disclaimer: This article is for informational purposes only and does not constitute financial advice. BitPinas has no commercial relationship with any mentioned entity unless otherwise stated.
📬 Get the biggest crypto stories in the Philippines and Southeast Asia every week — subscribe to the BitPinas Newsletter.
Speaking before thousands of local legislators, Coins.ph CEO Wei Zhou advocated for the urgent digitization of public collection systems, describing administrative friction as an “invisible tax” that drains resources from Local Government Units (LGUs).
Zhou delivered the keynote at the 2026 Philippine Councilors League (PCL) National Congress and 1st Quarterly Continuing Local Legislative Education Program, where he challenged officials to align public services with the digital standards now prevalent in the private sector.
The Cost of the ‘Invisible Tax’
Zhou highlighted that reliance on manual processing, physical cash management, and outdated reconciliation methods results in significant time and revenue losses.
“Even a 1% inefficiency in a ₱500 million revenue base equals ₱5 million. We must ask ourselves: How many scholarships is that? How many classrooms could that build? How many families could be supported? Small percentages become real consequences.”
Wei Zhou, Coins.ph
He noted that digital payments have now reached 57.4% of retail payment volume in the Philippines, citing a 2024 report by the Bangko Sentral ng Pilipinas (BSP). This shift in consumer behavior, Zhou argued, indicates that constituents are already equipped for and expecting instant digital services from their local governments.
Surge in QR Ph Usage
To illustrate the scale of adoption, Zhou shared data from the Coins.ph platform. The executive revealed that monthly QR Ph transactions processed by the exchange grew exponentially from ₱559 million to ₱29.95 billion within a 12-month period in 2025.
Zhou positioned Coins.ph as a “battle-tested partner” for LGUs, offering infrastructure that can streamline business permits and real property tax collections, ensuring operational continuity even during calamities when physical offices are closed.
Recent Strategic Expansions
This push for public sector digitization follows a series of aggressive expansion moves by Coins.ph over the last two years.
In 2024, the company launched PHPC, a Philippine Peso-backed stablecoin available on public blockchains. The initiative was designed to facilitate cheaper and faster remittances and trading.
The company has also been rapidly expanding its token offerings and network support. In recent months, Coins.ph integrated support for the Solana network and other high-performance blockchains.
Furthermore, the company has strengthened its global footprint, securing licenses in jurisdictions outside the Philippines.
Infrastructure Readiness
Closing his address, Zhou emphasized the readiness of their regulated infrastructure, which currently serves 18 million registered users and processes an average of 140 million monthly transactions with 99.9% uptime.
“Modernization will happen; the question is timing. Design decisions are leadership decisions. I invite our local leaders to lead this change.”
Wei Zhou, Coins.ph
Disclosure: AI is used to assist in developing this story.
This article is published on BitPinas: Coins.ph CEO to Local Leaders: Eliminate ‘Invisible Tax’
What else is happening in Crypto Philippines and beyond?
No Comment! Be the first one.