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Philippines Introduces PHPC Stablecoin for Easier Remittances
The Philippines has introduced a new cryptocurrency called PHPC, a stablecoin pegged to the Philippine peso. This initiative aims to reduce transaction costs for the approximately 10 million Filipino expatriates sending remittances back home. Unlike traditional channels such as banks and non-banking financial institutions, using PHPC for remittances is cheaper and available 24/7.