Philippine Peso Stablecoin PHPC Liquidity Pools Now Available on Ronin Katana DEX
Ronin users can now provide liquidity for PHPC, a Philippine Peso-pegged stablecoin issued by local crypto exchange Coins.ph. Liquidity pools for PHPC and other tokens are currently available.
What’s the significance: Investors can now provide liquidity on this pool and earn fees passively.
Table of Contents
What is PHPC?
In May 2024, the Bangko Sentral ng Pilipinas gave approval to launch $PHPC in June.
- $PHPC is the first known Peso stablecoin to be available to retail and will be fully backed by cash and cash equivalents stored in Philippine bank accounts.
- According to Coins.ph CEO Wei Zhou, the stablecoin is designed to enable convenience, cost-efficiency, and speed in a variety of financial activities including remittances, trading, and payments.
- The asset is also expected to help ease remittances by reducing the cost and time associated with sending funds, especially from Filipinos overseas, to their families in the country.
- Worth Reading: Coins.ph Receives BSP Approval to Launch PHPC, a Philippine Peso-Pegged Stablecoin
Two months later, Coins.ph launched $PHPC on the Ronin blockchain, marking the first time that the Philippine Peso (via its stablecoin counterpart) is listed on an international crypto platform.
- This means that $PHPC can be bought, held, and sold on Ronin Wallet, Ronin’s flagship web3 wallet.
- The stablecoin can now also be used within the Ronin ecosystem.
- Worth Reading: Coins.ph Launches BSP-Approved PHPC Stablecoin on Ronin
Currently Available LIquidity Pools for PHPC
- PHPC/RON
- PHPC/SLP
- PHPC/WETH
- PHPC/USDC
- PHPC/PIXEL
How to Provide Liquidity in $PHPC Pool?
- Step 1: Choose a Pool to provide liquidity, For example: Go to the PHPC/PIXEL liquidity pool.
- Step 2: Connect a Ronin Wallet. Make sure that the wallet has PHPC and PIXEL.
- Step 3: Supply the assets by typing in the amount to be provided to the pool.
- Step 4: Wait for the rewards to be earned.
What’s next: According to Zhou during the BitPinas Webcast, $PHPC will be available on Polygon.
This article is published on BitPinas: Philippine Peso Stablecoin PHPC Liquidity Pools Now Available on Ronin Katana DEX
What else is happening in Crypto Philippines and beyond?
SEC warns against Coinmate Plus and Trade 13.0 SERAX, unauthorized cryptocurrency schemes promising high returns.
