As a long-term crypto investor with a strong interest in blockchain gaming and the Philippine market, I’m thrilled to see the addition of PHPC, the Ethereum-based stablecoin tied to the Philippine Peso, on Ronin. This development will significantly benefit local players by enabling them to use their in-game earnings and funds for real-life transactions within the country.
The Philippine crypto exchange Coins.ph has introduced a new stablecoin called PHPC, which is pegged to the Philippine Peso. This digital currency has been integrated into the Ronin network.
Coins.ph’s stablecoin PHPC, which runs on the Ethereum blockchain, has been integrated into Ronin. This means that gamers using local blockchain games can now utilize their in-game winnings and finances to purchase goods and services within their country.
The Philippine Stablecoin, PHPC, is now active on Ronin! 🇵🇭
— Ronin (@Ronin_Network) July 8, 2024
In a recent blog post on July 8th, Ronin announced that users on its network would soon be able to exchange the stablecoin directly on Katana, the decentralized exchange operated by Ronin. While no specific timeframe was given for this addition, Ronin emphasized the significance of the Philippines market, stating that the new feature, called PHPC, will expand the use-cases for players in this region on the sidechain.
As a researcher studying the new features of this system, I can share that scholars in other countries will now have the ability to receive PHPC directly from their managers and guild leaders. This streamlined process simplifies the transfer of funds and expedites payouts.
Ronin
As a crypto investor using Coins.ph exchange, I can tell you about PHPC – a cryptocurrency they’ve developed with a 1:1 connection to the Philippine Peso. The exchange plays an essential role in providing liquidity for PHPC by maintaining a reserve pool filled with cash and conventional financial assets.
In the opening weeks of May, the Philippine Securities and Exchange Commission expressed its intention to establish a regulatory system for the cryptocurrency sector around mid-2024. As announced by SEC chair Emilio B. Aquino, these regulations are intended to oversee crypto trading activities within the country, ensuring both market integrity and investor protection.
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2024-07-08 12:04