Ronin Network Partners with to Integrate Philippines’ First Regulated Stablecoin PHPC

The Ronin Network, an Ethereum sidechain developed by Sky Mavis, has recently made a significant announcement regarding the integration of the Philippines’ first regulated stablecoin, PHPC, onto its platform. This move comes as part of a strategic partnership with, a prominent Filipino cryptocurrency trading platform. The integration of PHPC on the Ronin Network is expected to have a positive impact on the country’s financial landscape, particularly in the realm of remittances., which boasts a user base of 18 million accounts and 7 million monthly active users, plays a crucial role in the cryptocurrency ecosystem in the Philippines, covering approximately 6% of the country’s 116 million population. The exchange will ensure the stability of PHPC by maintaining liquidity through a reserve pool consisting of cash and other traditional financial instruments. Notably, PHPC is the first stablecoin pegged to the Philippine peso that has received approval from the Bangko Sentral ng Pilipinas (BSP), the country’s Central Bank.

The primary objective behind the creation of PHPC is to facilitate more affordable remittances, a vital service in a country where many individuals rely on financial support from overseas family members. The stablecoin’s rollout will be closely monitored by the BSP’s Regulatory Sandbox Framework to ensure compliance with regulatory standards.

The integration of PHPC on the Ronin Network marks a significant milestone for the blockchain platform, as it becomes the second stablecoin available alongside USDC. The launch of PHPC is expected to bring greater financial freedom to the Philippines, enabling fast and low-cost transactions in various use cases such as P2P transfers, merchant payments, remittances, and business transactions.

Following the announcement of the integration, the native token of the Ronin Network, RON, experienced a notable surge in value, with a 6% increase in trading price, currently hovering around $1.77. The trading volume of RON also saw a significant spike in the past 24 hours, rising by 60% according to CoinMarketCap data. Ranked as the 96th largest cryptocurrency by market capitalization, RON reached its all-time high of $4.5 in March.

In addition to the integration of PHPC, the Ronin Network has also launched version 2.4.0 of its Mobile Wallet for iOS and Android devices. This update includes features such as custom RPC, gas fee, and nonce settings, providing users with more control over their transactions. The mobile wallet update also introduces support for manual NFT addition and a new single-chain mode for streamlined usage.

Overall, the integration of PHPC on the Ronin Network represents a significant step towards enhancing financial inclusivity and accessibility in the Philippines, with the stablecoin expected to play a crucial role in facilitating seamless and cost-effective transactions for users across various sectors.