Survey data or official reports from Ronin Network or Coins.ph

Ronin Network Launches PHPC Stablecoin on Katana with 984.2K DAA

Jul 8, 2024, 08:33 AM

Ronin Network has launched PHPC, the first stablecoin pegged to the Philippine Peso. The stablecoin, which is an ERC-20 token, is now live on Ronin and is supported by Coins.ph. One PHPC is equivalent to one PHP and has been approved by the Bangko Sentral ng Pilipinas. The introduction of PHPC allows users to convert PHP to PHPC using the Buy/Sell feature on Coins.ph. This development marks a significant step for Ronin, traditionally known as a gaming chain, as it expands its services to include financial transactions. The Philippines remains a major sector of the Axie and Ronin community, and with PHPC, players can use their in-game earnings to pay for goods and services within the country. PHPC is also available on Katana, and this move is seen as a step towards economic freedom for everyone. Ronin Network ranks as the third most used blockchain with 984.2K DAA.