BSP cuts Coins.ph from banking rails

The Bangko Sentral ng Pilipinas (BSP) has directed Philippine banks and e-wallet operators to stop processing cash-in transactions for Coins.ph. The order effectively cuts the country's largest retail crypto exchange by user base off from its primary onboarding channels. Users who rely on bank transfers or e-wallets such as GCash or Maya to fund their Coins.ph accounts can no longer do so under the directive. The source article is a single report from Bilyonaryo Business dated 30 September 2026. The BSP's stated rationale, the duration of the restriction, and whether it is a temporary suspension or a permanent revocation of funding privileges have not been confirmed in available sources.

Coins.ph is not a niche operator. It holds a large share of retail crypto users in the Philippines, many of whom are unbanked or underbanked and entered the financial system through the Coins.ph app. For that segment, bank and e-wallet cash-ins are the only practical funding route. Blocking those channels does not just inconvenience users. It freezes the onboarding funnel entirely and may strand existing balances if withdrawal channels are also affected, though that has not been confirmed.