Coins.ph Says Philippine License Remains Intact as Transfers Face Restrictions

Coins.ph says its Philippine central bank license remains intact while incoming transfers to its peso e-wallet operator face restrictions.

The Bangko Sentral ng Pilipinas (BSP), the Philippines’ central bank, has restricted incoming InstaPay and PESONet transfers involving DCPay Philippines, which operates Coins.ph’s peso e-wallet services. Coins.ph says cash-ins and QRPh collections are temporarily unavailable, while crypto trading, cash-outs, bill payments and merchant QRPh payments remain accessible.

Coins.ph said the BSP instructed it to strengthen its internal controls. The company said it “firmly denies any claim that it knowingly serves offshore gaming or gambling operators” and that users’ funds are safe. It did not directly address whether those operators had used its platform.

DCPay holds an electronic money issuer license. Betur Inc. operates Coins.ph’s crypto services under a separate virtual asset service provider license.

In 2025, the BSP directed supervised financial institutions to remove links to gambling websites from their payment apps. The BSP has not publicly linked that directive to the restrictions involving Coins.ph.